Tax Prep Vs Tax Planning: What’s The Difference? | The Airline Advisor

On this episode:

Most of us think about taxes once a year, around April 15^th. We gather our documents, either to do it ourselves or hand them over to a CPA. This is tax preparation- looking back at the past year, compiling necessary forms, and filing your taxes.

Tax planning, on the other hand, is a proactive strategy. It involves looking ahead and making decisions that will minimize your tax liability in the future. Join Scott and Marc as they discuss how effective tax planning can create significant financial advantages for high-earning pilots.

Follow the podcast on your favorite app or platform:

Here’s some of what we discuss in this episode:

0:00 – Intro

2:09 – How CPAs relate to tax planning

4:59 – It’s not what you make, it’s what you keep

7:36 – Why a team approach is crucial

Check out the Retirement Planning Tax Checklist HERE

Resources:

Schedule A Call with Scott

Scott’s Book, A Pilot’s Guide To Maximizing Wealth & Cashflow In Retirement

The Pilot’s Planner Website

Related Episodes:

MicNew

WATCH OUR PODCAST

vert wht 1

The Airline Advisor

Phone: (419) 314-4139
Email: [email protected]
Address: 1700 Woodlands Dr, Maumee, OH 43537

All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Ohio or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

©2024. All rights reserved.

All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Ohio or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

©2024. All rights reserved.