For sole proprietors or W2 wage earners with straightforward finances, an accountant can be a cost-effective option for tax preparation. However, for most businesses, it’s essential to develop a long-term tax strategy. This is particularly true for companies with complex finances, multiple revenue streams, or complex ownership structures. By developing a multi-year approach, businesses can ensure that they are making the most of all available tax benefits and deductions, while also minimizing the risk of non-compliance. A proactive approach to tax planning can help businesses reduce their tax burden, increase profitability, and avoid costly penalties and fines. Ultimately, investing in a comprehensive tax strategy can save businesses significant time and money over the long term.