Tax & Surf Quarterly, Q2

Are you ready for June 15th? This is a good time to be evaluating your business, career, and tax life. Far less abstractly and directed to my wonderful clients, “Pay your taxes.” Second quarter taxes for the self-employed and anyone else in that boat, are due 6/15. As holiday memories start to archive and the tax season hangover has been lifted – It is the perfect time to plan. The compliance work is done, you know what needs to get paid, and now it is time to look forward. Any big financial changes should be addressed now to avoid penalties, fees, and cash-flow crunches. What are some things sophisticated clients are doing this time of year?


For the equity compensated employee:

-Maxing out workplace retirement plans

-Strategizing now for potential job changes

-Reviewing stock options and potential tax reducing elections

-Reviewing existing portfolios and planning ahead for any sales

-Planning for major purchases and goals

-Reviewing tax withholding

-Ready for major life changes with financial impact: marriage, kids, moves, and new ventures


For the self-employed business owner:

-Making estimated tax payments and savings

-Projecting cash flow for expansion

-Considering any entity decision making far in advance

-Planning for growth and strategy with potential returns

-Performing various retirement planning and implementations

-Confirming health insurance coverage

Gillingham CPA has a relatively simple philosophy: “Value Added.” As addressed in Gillingham’s Hierarchy of Client Needs, we want to go beyond just a tax return. First comes the compliance work of accounting, return filings, and estimated tax payments. This establishes the base of the pyramid of “Tax & Accounting” so that we may then continue onto “Plan” and then “Advise.” This process should help to improve your tax and financial related life, so that you can work towards any other business, career, and personal goals.

Please reach out to me directly if you have any questions. John at GillinghamCPA dot Com.


Surf Report: Ocean Beach has continued to receive strong offshore winds, making the surf conditions largely unrideable. I have suspicions that there may be some good early mornings to be had out in the SF avenues for the dedicated, but I have not seen it with my own eyes. As the always contrarian California weather turns grey for the “Summer” and the winds blow consistently in the wrong direction, it may be advisable to consider a surf trip.

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