When is the best time to start tax planning?

The best time to start is mid-year, well before the December 31 deadline that governs most tax-saving decisions like retirement contributions and loss harvesting. Starting in January of the following year, once filing season begins, means most opportunities for the prior year are already gone.

Is tax planning different from tax preparation?

Yes, tax preparation reports what already happened during the year, while tax planning is the forward-looking work that shapes what that return will eventually show. Both matter, but planning is where most of the actual savings happen.

Can tax planning help me decide when to sell investments?

Yes, we review your current-year income and existing gains and losses to identify whether selling now versus later, or harvesting a loss to offset a gain, produces a better tax outcome. This works best as an ongoing conversation rather than a single year-end phone call.

Do I need a certain income level to benefit from tax planning?

No, taxpayers at many income levels benefit, particularly those with variable income, a recent life event, or access to an employer retirement plan with choices to make. The value comes from having decisions reviewed before the deadline to act on them passes, not from a minimum income threshold.

Individual Tax Services

Individual Tax Planning in Clovis, CA

A year-round conversation about your K-1, your distributions, and the moves that need to happen before December 31, not a once-a-year filing appointment.

Built for HVAC, plumbing, electrical, and mechanical contractors running trucks, techs, and service agreements out of QuickBooks Online, ServiceTitan, and Housecall Pro.

Schedule Your Free Strategy Call (559) 203-3450

What sends contractors looking for this

I only think about taxes in April, when it's too late to change anything

By the time your return is being prepared, nearly every opportunity to change the outcome for that tax year has closed. Retirement contribution deadlines, a decision to put a spouse or the kids on payroll, and reasonable compensation adjustments almost all fall before December 31, and a preparer who only sees you during filing season has no chance to raise them in time.

This reactive pattern is especially costly in a year with a big jump in profit, a truck fleet expansion, or the sale of the business, because those are exactly the years where planning ahead produces the largest savings.

An owner who misses a single year-end planning window in a strong profit year, or the year the business sells, can overpay by tens of thousands of dollars in tax that no amount of clever preparation in April can recover.

I don't know if I'm putting away enough for retirement in a good year

Contribution limits for a SEP IRA, Solo 401(k), or a company retirement plan change most years, and how much you can put away depends on your S corp profit, your reasonable compensation, and how the current year compares to the last. Without a coordinated review, owners often contribute inconsistently or miss the chance to shelter a strong year's profit before the deadline passes.

This is especially relevant the year you sell a rental, take on a large job that pushes profit up, or start thinking about handing the business to a family member, since those windows for a larger contribution or a strategic timing move don't last.

Missing a retirement contribution deadline in a strong profit year permanently forfeits tax-deferred savings and the deduction that would have come with it, money that can't be recreated retroactively once the calendar year closes.

I'm not sure my withholding or estimated payments match how the business actually pays me

Withholding and estimated payment elections made years ago often don't reflect a spouse now on payroll, a season that ran better than expected, or distributions that increased once the business could support them, leading either to a large balance due or an interest-free loan to the government in the form of an oversized refund.

Owners face a particular challenge here because distributions and K-1 income don't have anything withheld from them the way a paycheck does, so a number that was never checked against this year's actual results is almost always wrong in one direction or the other.

Underpaying without adjusting estimates triggers an IRS underpayment penalty assessed quarter by quarter, while chronic overpayment means giving the government an interest-free loan of cash the business could be using for equipment, payroll, or the tax reserve you actually need.

How we fix each of those

01
Scheduled planning meetings tied to your season, not the calendar year
We meet with planning clients mid-year and again in the fourth quarter, specifically to review profit year-to-date and identify moves, like a retirement contribution or putting a spouse on payroll, that need to happen before December 31 to count for that tax year.
02
Retirement contribution timing sized to how the year is actually going
We review your contribution levels against current-year limits and your S corp profit, and flag windows, like a stronger-than-usual season, that make a larger contribution or a plan change particularly advantageous, coordinated with your longer-term plan to slow down or hand off the business.
03
Withholding and estimated payments calibrated to distributions and payroll
We calculate a withholding or estimated payment schedule based on your actual projected S corp profit and distributions for the year, updating it when a big job, a new hire, or a slow stretch changes the picture, so you land close to breakeven at filing time instead of guessing.

Everything included

Mid-year and year-end tax planning meetings
Retirement contribution timing sized to a strong profit year
Reasonable compensation and distribution review
Withholding and estimated payment recalibration
Spouse and family payroll planning
Rental and property purchase timing tied to a strong year
Coordination with your financial advisor or attorney when relevant

Work that pairs with this

Individual Tax Preparation

A carefully reviewed return that accounts for your K-1, your truck, your home office, and the distributions you already took, filed on time with every deduction you're entitled to actually claimed.

View Individual Tax Preparation

Business Tax Services

Tax preparation and planning for HVAC, plumbing, electrical, and mechanical contractors, built around your S corp or LLC, your ServiceTitan or Housecall Pro job data, and the states your crews actually work in.

View Business Tax Services

Contractors who have already done this

Real Google reviews from owners we work with, next to the engagements behind the numbers.

Google review
As a home services company, I feel that High Velocity Accounting has elevated our business to the next level. We are able to dig deeper into our numbers, report accurately and make adjustments where needed. They are very responsive, detail oriented and an extension of our team.
Cathleen Helin
Owner, Home Services
Clovis, CA
Case study
How a Construction Company Cleaned Up Two Years of Books and Financed New Equipment
Construction · $2.8M - $4.1M annual revenue
Books brought current
22 months
Equipment loan approved
$680,000
Read the full breakdown
Google review
I have been so genuinely pleased with High Velocity Accounting's services. I feel I have an extension of our team in Brett and his team. They always make time for my questions and look for strategic ways to build our businesses mutually. I rest easy knowing our books are kept in good order and our taxes are prepared professionally. I never hesitate to recommend this firm to any service business owners looking for professional book keeping and tax services.
Texas Medley
Owner, Service Contracting
Clovis, CA
Google review
We have been using High Velocity Accounting for a couple years now and are so thankful for their service! They are meticulous, thorough, dependable and always ready to deal with a curveball. Kind, patient, gracious. Thank you for your service and the relationship we've developed together.
Grant Schoenberger
Client, Trades
Clovis, CA
Google review
Brett Neal has been our family's accountant for over six years now, because he is the most dependable professional in this business. We started with Brett as two separate single-filers with simple W-2's and quickly graduated to a married couple having multiple types of complicated business/tax filings. Brett took every shift in stride; every transition has been carried out smoothly and without any hiccups. Trust that this is the guy for all your filing, bookkeeping, and financial consulting needs.
Alyssa Cotrina
Business Owner, Trades
Clovis, CA

Where we do this work

Our office is in Clovis and we work with home services contractors across the Central Valley and nationwide. Pick your city to see how individual tax planning works for shops in that market.

Not on the list? We run every engagement over QuickBooks Online, ServiceTitan, and Housecall Pro, so distance does not change the work. Call (559) 203-3450.

Talk to a CPA who will actually pick up the phone

Start with a 30-minute consultation at no cost. You will leave it knowing what the work involves, what it costs, and what happens next.