Most people think tax planning happens in March.
Investment reviews happen when the market gets volatile.
Accounting gets attention when financial statements are due.
And retirement planning? That’s something they’ll “get to someday.”
The problem is that none of those decisions happen in isolation.
At Tannery Company, we believe the best financial decisions happen when tax, accounting, and wealth management work together.
That’s why one of the most valuable meetings of the year often happens right now—in the middle of the year.
Why July Matters
By the third quarter, you’ve accumulated enough information to know where your year is heading.
- You know how your business is performing.
- You know whether your income is tracking higher or lower than expected.
- You know if your investment portfolio has changed.
And most importantly, you still have time to make meaningful adjustments before December 31.
Waiting until year-end often limits your options.
Meeting in July gives you choices.
What We Review
Every client’s situation is different, but our mid-year reviews typically focus on questions like these:
Is your tax withholding still accurate?
Raises, bonuses, business income, stock compensation, and investment gains can all change your tax picture.
Many executives with RSUs discover that employer withholding isn’t enough to cover their actual tax liability.
We would much rather adjust today than deliver an unpleasant surprise next April.
“A tax projection is most useful when there’s still time to respond to it. By mid-year, we can usually see whether withholding, estimated payments, or a change in income is creating a gap—and discuss adjustments before filing season.”
— Cooper Westbrook, CPA, Senior Tax and Business Advisor
Are your retirement contributions on pace?
If your goal is to maximize your 401(k), SEP IRA, SIMPLE IRA, or other retirement plans, mid-year is the perfect checkpoint.
Waiting until December sometimes leaves too little payroll remaining to fully fund your plan.
Small course corrections now are much easier than large ones later.
Are your business profits creating new planning opportunities?
This is where accounting and tax planning come together.
Accurate financial statements allow us to project taxable income before year-end.
That opens the door to proactive decisions such as:
- Retirement plan contributions
- Equipment purchases
- Timing income and deductions
- Estimated tax adjustments
- Entity compensation reviews
- Cash flow planning
Good accounting doesn’t just produce reports.
It creates opportunities.
“You can’t make a useful tax projection from financials that are several months behind. When the accounting is current, the business owner and tax team can work from the same information and make decisions while there are still options available.”
— Leslie Carden, CPA, Head of Accounting
Is your investment portfolio working alongside your tax strategy?
Our wealth management team isn’t simply focused on investment performance.
We’re looking for ways your portfolio can improve your tax outcome.
That may include:
- Tax-loss harvesting
- Managing capital gains
- Donating appreciated securities
- Coordinating withdrawals
- Rebalancing in a tax-efficient manner
Investment decisions and tax decisions should never be made independently.
“A portfolio decision can have consequences beyond investment performance. Before realizing gains, making a large withdrawal, or giving appreciated assets, we want to understand how that decision fits with the client’s tax picture and the rest of their plan.”
— Jaclyn McGuire, Financial Advisor
Are you maximizing your employee benefits?
Many people overlook benefits they’ve already earned.
We review items such as:
- Health Savings Accounts (HSAs)
- Flexible Spending Accounts (FSAs)
- Backdoor Roth IRA opportunities
- Employer retirement matching
- Stock compensation
- Deferred compensation elections
These aren’t just HR benefits.
They’re financial planning opportunities.
Have your personal circumstances changed?
Life changes quickly.
Marriage.
Divorce.
A new child.
A new home.
A business sale.
A new job.
Each one can affect beneficiary designations, insurance needs, estate planning, and your long-term financial strategy.
Those are conversations worth having before they become urgent.
The Power of an Integrated Team
One of the biggest advantages our clients experience is that these conversations don’t happen in separate offices.
Your CPA isn’t working without knowing your investments.
Your wealth advisor isn’t making recommendations without understanding your taxes.
Your accounting team isn’t producing financial statements that sit on a shelf.
Instead, our tax, accounting, and wealth management professionals work together to help you make better decisions.
That’s where real value is created.
The Cost of Waiting
A comment I read recently said it perfectly:
“The cost of waiting compounds.”
A missed withholding adjustment becomes an April tax bill.
A delayed retirement contribution may never get made.
A tax-loss harvesting opportunity disappears when the market recovers.
An outdated beneficiary designation can create consequences your family never intended.
Most financial mistakes aren’t caused by bad decisions.
They’re caused by decisions that were never made.
Our Advice
- Put a date on the calendar.
- Gather your financial statements and review your year-to-date numbers.
- Ask whether you’re still on track for the goals you set in January.
If you’re a Tannery Company client, this is exactly why we bring together tax, accounting, and wealth management throughout the year—not just during tax season.
Because the best financial strategies aren’t created in April.
They’re built one proactive conversation at a time.
