Tax preparation reports what already happened. Tax planning is about the months before the year ends, when decisions about income, expenses, retirement contributions, equipment and how your business is structured can still change the result.
A planning session looks at your current income and expenses, estimates what you are on track to owe, and lists the options that are worth considering for your situation, with the trade-offs explained. We do not promise a particular saving, because it depends on your facts and on the rules in effect.
What we look at
Estimated taxes
If you are self-employed or own a business, we work out whether and how much you should be paying each quarter, so you avoid a large bill and underpayment penalties.
Business structure
Whether your current structure still fits, and whether an S corporation election or another change makes sense at your level of profit.
Owner pay and payroll
How you pay yourself, including reasonable compensation for S corporation owners, and what that means for payroll tax.
Deductions and timing
Expenses, equipment purchases, retirement contributions and other items where timing matters, and what records you need to support them.
Year-end checklist
What to do before December 31 so nothing is missed: payroll, 1099s, bookkeeping catch-up, estimated payments.
Who benefits most
- Business owners whose profit has grown and who are not sure their structure still fits
- Self-employed people who owed a surprising amount last year
- Anyone selling a property, a business or investments
- Owners planning a large purchase or a new hire
- People whose income changed during the year
One session or ongoing support
A single planning session is a good start if you want a clear picture and a list of next steps. Owners who want regular check-ins during the year can ask about ongoing planning alongside bookkeeping and tax preparation.
How it works
- 1
Share your numbers
Send your latest profit and loss statement or bank statements, last year's return and any big changes ahead.
- 2
We estimate where you stand
We project your income and tax for the year and compare it with what you have paid so far.
- 3
We go through your options
We explain what is available, what each option costs and what documents it needs.
- 4
You decide, and we follow up
You choose what to act on. We help carry it out and update the numbers as the year goes on.
What we need from you
- Last year's federal and state tax returns
- This year's profit and loss statement and year-to-date bank statements
- Records of estimated tax payments made so far
- Information about big changes: new hires, large purchases, property sales, a new business
- Payroll reports, if you have employees
Not sure what applies to you? Send what you have and we will tell you what is missing.
Why work with BUTA Tax
- Tax preparation, bookkeeping, payroll, business formation and IRS help in one firm, so your records line up.
- A secure client portal for your documents and messages, available whenever you need it.
- Starting prices shown on this site and the questions that set your final price asked before you pay.
- An office in Frisco, Texas, and online service for clients across the United States.
Frequently asked questions
Is tax planning only for big businesses?
No. Self-employed people and small business owners often gain the most, because a few decisions about timing and structure can matter a great deal at their size.
When is the best time to plan?
During the year. The earlier in the year, the more options remain. Many moves have to be made before December 31 to count for that year.
Can you tell me how much I will save?
Not in advance. What you can save depends on your facts and on the tax rules in effect. We show you the likely effect of each option so you can decide with real numbers.
Do I need tax planning if I already have my taxes done every year?
Preparation and planning are different. Preparation records what happened, and planning changes what happens. If your tax bill has surprised you, planning is worth a conversation.
How much does a planning session cost?
Planning is quoted by the type of engagement, from a single session to ongoing support. Book a consultation and we will tell you which fits and what it costs.