End of Year Tax Planning - Strategies and Tips w/ Dan Pilla

Pilla Tax Academy Podcast Podcast

Welcome to a crucial episode of the Pilla Tax Podcast, especially designed for those looking to make smart tax moves as the year draws to a close. In Episode 38, we have the privilege of having Dan Pilla, a tax expert with over four decades of experience, who will provide invaluable insights into strategic tax planning as we approach the end of the year.

In this episode, we're focusing on three key areas:

1. Prepaying State Income Taxes: Dan addresses the strategy of prepaying state income taxes before December 31st. He elaborates on how this can be a smart move for some taxpayers, while also cautioning about potential downsides. It’s a nuanced discussion that can help you decide if this strategy works for your situation.
2. Wage Withholding and Estimated Payments Review: Next, we delve into the often-overlooked aspect of wage withholding and estimated tax payments. Dan guides us through the process of reviewing these payments and identifies common errors that taxpayers should avoid. This segment is essential for anyone looking to optimize their tax situation and possibly increase their take-home pay.
3. Financial Review and Tax Liability Forecast: Finally, Dan emphasizes the importance of reviewing your financial situation before the year ends. He explains how this proactive step can be crucial in managing unexpected tax liabilities and avoiding unpleasant surprises during tax season.

This episode is packed with expert advice and practical tips for both individual taxpayers and small business owners. Whether you're seeking ways to minimize your tax liability or just looking to better understand the end-of-year tax landscape, this podcast is for you.

Tune in now and step into the new year with confidence, equipped with the knowledge to make informed tax decisions.

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Be sure to check out the Pilla Tax Academy website for all your tax resources at:
www.PillaTaxAcademy.com

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