Dear Friend,

It’s that time again—the one we all love to hate. Tax season.

Now, if you’re like most people, you probably fall into one of two camps:

  1. The “I’ll get to it eventually” crowd—where tax prep involves a shoebox of receipts and a prayer.
  2. The “I hired someone but I’m still sweating bullets” crowd—where you’re hoping and praying your CPA uncovers some magical deductions you didn’t know existed.

Either way, I get it. Taxes aren’t fun, but they’re inevitable. And while I’m not an income tax strategist (I leave that to the CPAs and financial wizards), I am someone who helps people protect their wealth—and that includes making sure Uncle Sam doesn’t get more than he deserves.

So, let’s talk about how you can prep for tax season like a pro—especially if you’re looking to make sure your assets are working for you, not against you.

  1. Get Organized (No, Really—This Isn’t Optional)

I know it sounds basic, but you’d be surprised how many high-net-worth individuals walk into tax season without so much as a basic organizational system.

Start by gathering:

  • Income documents – W-2s, 1099s, K-1s, and any other sources of income, including rental properties or dividends.
  • Deductible expenses – Charitable donations, mortgage interest, medical expenses, business expenses, etc.
  • Investment records – Capital gains and losses, stock transactions, and any crypto dealings.
  • Estate and gift documentation – If you gifted large sums this year or received an inheritance, this is crucial.

If you’re sitting there thinking, “Well, that’s going to take forever,” it probably will. But that’s exactly why starting early is key.

  1. Work With the Right People (Because Not All Experts Are Created Equal)

A good CPA is worth their weight in gold. But here’s the thing—even the best CPA can only do so much if your financial house isn’t in order. That’s where having an estate plan comes in.

Why? Because a properly crafted estate plan isn’t just about what happens when you’re gone. It’s also about:

  • Minimizing taxes now and in the future.
  • Protecting your assets from creditors and legal claims.
  • Ensuring your wealth is passed on efficiently—without the government taking a huge bite out of it.

Estate planning tools like trusts, for example, can offer significant tax advantages. Depending on how they’re set up, they can reduce estate taxes, gift taxes, and even capital gains taxes.

So, while your CPA is handling this year’s income tax return, you should also be thinking about the bigger picture. Are you structured in a way that limits your tax liability not just today, but for the next decade—or even the next generation?

  1. Look Ahead, Not Just at Last Year’s Numbers

Tax season has a nasty habit of making people focus on the past—what they made last year, what they spent, and how much they owe. But real wealth preservation comes from forward-thinking.

Ask yourself:

  • Am I making use of tax-advantaged accounts? (Think IRAs, HSAs, and 529 plans.)
  • Have I maxed out charitable giving opportunities?
  • Is my estate plan aligned with my tax strategy? (If you’re not sure, that’s a red flag.)

When you look at taxes as part of a long-term wealth strategy—not just an annual chore—you start seeing real results.

  1. Don’t Wait for a Crisis to Get Things in Order

The truth is, the people who pay the most in taxes are often the ones who waited too long to get serious about planning.

I’ve seen it time and time again. A wealthy individual passes away without a proper estate plan, and suddenly their family is hit with a massive tax bill that could’ve been avoided. Or someone gifts assets without understanding the gift tax implications, leaving their heirs with a headache and a half.

Don’t be that person.

A properly structured estate plan isn’t just a “nice to have”—it’s one of the most effective tools you have to protect your wealth and minimize taxes. And the best part? It doesn’t just benefit you—it benefits your kids, grandkids, and even great-grandkids.

Let’s Make This Tax Season the Last One You Dread

If you’re tired of feeling like you’re always playing catch-up with taxes—and worried about how much your family might lose to taxes when you’re gone—let’s talk.

At Bascom Law, I help clients like you create estate plans that don’t just protect wealth—they help grow it, minimize tax exposure, and ensure your legacy lasts for generations.

And while I’m not going to file your tax return (I’ll let your CPA handle that), I will help make sure you’re set up in a way that makes next tax season a whole lot easier—and less painful.

So, if you or someone you care about could use help with estate planning, call me today at 770-285-5493.

Because while tax season is inevitable, losing unnecessary money to the IRS doesn’t have to be.

Sincerely and Thanks,

Mike Bascom
Bascom Law, PC