Tax Season Was Rough… Your Accountant is on Vacation – Now What?
Tax season was brutal. You filed your return, saw that unexpectedly high tax bill, and just when you needed answers—your accountant went on vacation. Sound familiar?
You’re not alone. Many business owners find themselves in this exact spot, realizing too late that tax planning wasn’t a priority. Let’s break down why this happens and how you can prevent it next year.
That Unexpectedly Large Tax Bill
If your tax bill caught you off guard, it’s likely because:
❌ You didn’t make estimated quarterly tax payments.
❌ Your business revenue grew, but your tax strategy didn’t keep up.
❌ There was no tax planning throughout the year.
❌You have a large balance to pay off over time with a payment plan draining your business of value cashflow for the next 6-12mo.
Your Accountant is Offline, But You Have Money Questions
Your accountant is taking a well deserved and earned time off due to the stress of tax season. You're expecting your accountant to act like your CFO, but that is not their role. Your accountant's job is to file your taxes—not necessarily to proactively help you plan financially. If you’re feeling lost post-tax season, it might be time to bring in a CFO who helps you strategize and is accessible all year round.
The Lack of Tax Planning Hurts Your Bottom Line
Most accountants focus on compliance—making sure you follow the rules and guidelines. They also help you use tax laws to minimize your tax liability, if they are doing tax planning before the end of year. Planning ahead of time and forecasting your profit will allow you to better plan for your quarterly estimated tax payment and ultimately your tax bill to avoid under or overpaying.
This forecasting is a task a CFO can support and provide guidance which enables your accountant to provide you a tax estimate against your upcoming total tax bill. You want to keep cash in the business and not pay beyond what is necessary. That way you can put that cash to work to grow the business and ultimately improve profits.
Now that we’ve talked about why tax time felt like a nightmare, let’s discuss how to avoid this situation again next year.
A CFO Plans Forward
Your accountant’s role is to file taxes based on what already happened in your business. But what if you could reduce your tax bill before it’s even due?
That’s where a CFO comes in. A CFO helps you:
🔹 Forecast your profit and loss monthly goals with a profit target
🔹 Knowing how much profit you are projecting allows your accountant to estimate your tax bill ahead of time
🔹 Part of the planning process is to identify opportunities to save for retirement, buy a property, re-invest back into the business to proactively protect your profit
🔹Your tax bill will never be a surprise as we will collaborate with your accountant to make sure you are paying enough each quarter to avoid a surprise bill
Oversight of Your Bookkeeper and CPA
Many business owners assume that their bookkeeper, CPA, and tax professional are all working together seamlessly. But in reality, each role is focused on different tasks, and mistakes or miscommunications can happen more often than you think.
Without strategic oversight, you could be overpaying taxes due to missed deductions, underpaying, leading to penalties and interest, losing money due to inefficient management.
A CFO acts as the bridge between these roles, ensuring that:
✅ Your bookkeeper is accurately categorizing transactions by reviewing the PnL
✅ Your CPA is aligning tax planning with your business financial goals
✅ Your financials are structured for both tax efficiency and business growth
Your Accountant is NOT Your CFO—There’s a Difference
Many business owners mistakenly believe their CPA or tax preparer is handling all aspects of financial strategy. While CPAs are experts in tax law and compliance, they are not financial strategists.
Here’s the key difference:
🔹 A Accountant or CPA ensures you meet tax compliance, reviews past and present for accuracy, identifies areas of tax savings opportunities.
🔹 A CFO helps you optimize your finances so your business is profitable, scalable, and has a strategic financial plan that is being executed and on track.
If you want to stop feeling blindsided by taxes every year, you need both roles working together.
Proactive Financial Strategy = More Money in Your Pocket
A CFO doesn’t just look at your numbers—we help you:
Optimize your pricing and profit margins.
Build a cash flow strategy, so you always have funds set aside for taxes.
Implement strategies like compensation structuring, retirement plan saving, and identify
The Key to Less Stress Next Tax Season? Start Now
The truth is, waiting until tax season to think about taxes is costing you money. By implementing a proactive financial strategy now, you can:
✅ Avoid a massive surprise tax bill next year.
✅ Keep more of your profit and cash instead of losing it to taxes.
✅ Have peace of mind knowing your financial house is in order.
Ready to Get Financially Proactive?
If you’re tired of tax season surprises and want to get ahead, let’s create a financial strategy that actually works for your business. Book a call today to start planning now and have less stress and more profit.