Ben Franklin’s famous quote, “In this world, nothing can be said to be certain, except death and taxes,” seems to get tossed around more this time of year than any other. As individuals and businesses scramble to gather and review tax records and prepare returns, promises are made that “next year we will be more organized!” One of the best ways to get organized, manage expectations, meet deadlines, and operate efficiently is to reduce responsibilities to writing. Using tools such as checklists, worksheets, questionnaires, and memoranda can help attorneys and their clients communicate effectively and stay on the same page.
The Business Docx® client intake and communications suite offers these and other tools to help support your practice. Proper record-keeping, tax planning and documentation are of paramount importance for any small business. WealthCounsel’s “Halfway to Tax Day” worksheet will help you and your client check the pulse of their business tax planning mid-year to avoid a mad rush at year-end. In addition to encouraging your client to complete the worksheet, this interim tax check-in will help your client bring any outstanding issues to the forefront and make necessary changes before it is too late to resolve them.
Like all of WealthCounsel’s drafting solutions, the Halfway to Tax Day worksheet is customizable for your client’s tax status. If your client operates as a corporation, for instance, then the worksheet will address mid-year corporate tax considerations but will not be bogged down with irrelevant partnership tax concerns. Similarly, questions pertaining to retirement plans can be omitted for those business clients that do not offer them. A corresponding client letter enables you to explain the worksheet and provide direction to your clients. There is no escaping tax day. Help your clients be more prepared for it and simultaneously demonstrate the value-added, prudent legal representation you provide.
Have you utilized WealthCounsel’s client intake and communications tools in your practice? Please share your experience in the comments.
