David M Daggett CPA – Importance of Tax Planning

David M. Daggett is a qualified accountant who is a partner at Lee, Cochran & Daggett, CPAs, LLP, which is a full-service firm specializing in tax preparation and tax planning. He’s been a partner since December 2011, and part of his work is handling about 400 clients who range from high-net-worth individuals to real estate professionals, service companies, and manufacturers. Over the years, he’s advised many clients on the importance of tax planning, thus, helping them file their taxes and avoid unnecessary penalties.

What tax planning means

Tax planning is the ‘process’ of getting your financial affairs in order so that you can meet your tax obligations properly and timely. By having effective strategies, you can ensure that you have more money to invest or save, all resulting from making maximum use of all the tax breaks available under the tax code.

Closely related to tax planning is financial planning, which speaks to the strategies that help you accomplish your financial goals, whether they are long-term or short-term. Financial planning and tax planning are related because taxes are a huge expense over a lifetime. If you want to be successful, you will have to figure out how to handle taxes. So having a plan in place is crucial to your long-term financial success.

Over the years, David M. Daggett, CPA has helped many clients understand fully the importance of tax planning. By doing so, many have avoided committing blunders that cost them time and financial resources.

 

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