Why a Good Tax Professional is Part of Your Wealth Strategy
- Chris McCormack
- 1 day ago
- 4 min read
For real estate investors and business owners, tax planning isn't just about filing a return. It's about having a strategy that supports your bigger financial goals.
“You can do it without a good tax professional,” says Dean, a real estate investor and Better Books client. “But why? Why would you make it so much harder on yourself?”
For Dean and his business partner, Anthony, working with Chris McCormack and the Better Books team has become an important part of their overall approach to building wealth.
“You guys have been a huge component in that, and Anthony and I both really appreciate it,” Dean says. Their experience illustrates an important distinction for business owners and investors: there's a big difference between having someone prepare your taxes and having someone help you strategize around them.
From Tax Preparer to Tax Strategist
Dean admits he's a little unusual when it comes to taxes. “I nerd out on this stuff,” he says. “I enjoy taxes, which may sound like a weird thing to most people.”
He enjoys learning about tax strategies and looking for ways to maximize their savings. But even with that interest, their experience with their previous tax preparer wasn't giving them the proactive guidance they needed.
Their old approach was essentially: gather the records, hand them over at the end of the year, and let the tax preparer figure it out. The transition to Better Books changed that completely.
“It’s night and day,” Dean says.
Instead of waiting until tax season, Dean and Anthony now meet with Chris and the Better Books team throughout the year to discuss their financial and tax strategy.
That means they're not simply looking backward at what happened. They're making decisions with their goals in mind.
“We’re not just spending randomly,” Dean explains. “We’re actually spending with a strategy in place because you can’t fix it after the fact.”
And that's the key difference between tax preparation and proactive tax planning.
You Can't Fix Everything After the Fact
For business owners and real estate investors, many financial decisions have tax implications. But once the year is over, many opportunities have already passed.
That's why Dean sees working with a tax strategist ahead of time as so important.
“Don’t just find a preparer,” he says. “Find a strategist. Find somebody who’s going to work with you on your strategy ahead of time.”
Quarterly conversations allow Dean and Anthony to look at where they are, where they want to go, and what decisions they may need to make along the way.
Instead of asking, “What can we do about our taxes now?” they're able to ask, “What should we be doing now to accomplish our goals?”
That shift has become one of the biggest benefits of their relationship with Better Books.
The Financial Results Matter - But So Does Peace of Mind
The proactive approach has also produced tangible financial results.
Looking back at their taxes from the previous year, Dean estimates that he and Anthony each received refunds in the range of $6,000 to $8,000. Combined, that's a significant result.
But Dean points out that the value goes beyond the dollars saved. “We know we’re doing it right,” he says. “We’re not worried about the IRS coming knocking on our door.” That confidence and peace of mind are important, particularly for business owners and investors who are making increasingly complex financial decisions.
Having a knowledgeable professional involved throughout the year means they aren't trying to figure everything out on their own or wondering whether they missed something important.
More Time for What Actually Grows the Business
There's another benefit Dean didn't initially expect: time. He enjoys taxes and accounting, but he recognizes that doing everything himself isn't necessarily the best use of his time.
“You may enjoy something. You may be good at something. But if you're a business owner like we are, if you're spending your time in the taxes and the accounting, it's probably not the best use of your time in terms of growing your business.”
For Dean and Anthony, their expertise is in implementing their business plan and growing their business - not spending hours researching tax rules and accounting issues. By relying on Chris and the Better Books team, they have been able to redirect that time toward activities that contribute directly to growth.
“Not having to research it myself and then not having to take time away from the actual productive activities in the business that are going to grow us to the next level” has been a huge game changer, Dean says.
What Does the Next Level Look Like?
For Dean and Anthony, the answer is ambitious.
They're moving into the business acquisition space and have already been analyzing businesses, talking with brokers, and speaking with potential sellers. Now they're focused on finding the right acquisition - one that fits their criteria and gives them another opportunity to grow.
The goal? Acquire a successful business, grow it, add it to their investment portfolio, and eventually do it again. Lather, rinse, repeat.
And having their tax and financial strategy integrated into those decisions will continue to be an important part of that process.
Your Tax Strategy Should Support Your Wealth Strategy
Dean's story is a good reminder that your tax return is only one piece of the financial picture.
For business owners and real estate investors, the better question isn't simply:
“Who is going to prepare my taxes?”
It's:
“Who is helping me make smart financial decisions before the year is over?”
At Better Books Accounting, we work with business owners and investors to take a proactive approach to tax strategy - so tax planning becomes part of the bigger picture rather than something that happens once a year.
If you're ready to move beyond simply preparing your taxes and start thinking strategically about your business, investments, and financial goals, schedule a Strategy Session .
Let's talk about where you are, where you want to go, and how a proactive tax strategy can help you get there.
