First Tax Advisory Meeting Workbook for Business Owners
Prepare a focused first meeting with AE Tax Advisors and turn the discussion into an agreed scope and action list.
Prepare a one-page business overview
Start with what you own, how the businesses earn money and the decisions coming next. List each entity, operating state, approximate revenue and profit range, employee count and current tax support. Include ownership of rental property if it affects the broader planning discussion. The first meeting is more useful when the advisor can understand the business before being asked to evaluate an isolated strategy.
Choose three questions that matter now
Rank questions by the business decision and its timing. For example, an upcoming ownership change, a payroll concern and a planned sale may deserve attention before a deduction idea that can wait. Describe the facts you know and the gaps you need help resolving. Ask how the advisor would scope the analysis. Do not expect a short introductory conversation to produce a complete calculation based only on rough income numbers.
Illustrative meeting agenda
An owner operates an S corporation, plans to hire a manager and may buy an office building. A focused agenda asks what records are needed to review compensation, how hiring affects retirement planning, and how the building's ownership should be analyzed. These questions are connected but require different work. The meeting can define responsibilities and priorities without pretending to settle every tax position immediately.
Agree on the engagement
Ask which entities and years are included, what deliverables will be provided, who handles implementation and which work is separately priced. Confirm how AE coordinates with your existing preparer, attorney, payroll provider and bookkeeper. Request a clear description of the assumptions, timing and records needed. The written scope, rather than a generic strategy list, should define what the engagement includes.
Leave with a practical next step
Finish with an action list naming the person responsible, the records required and the next review date. Arrange secure document delivery before sending returns or employee information. Keep sensitive information out of public worksheets. Save the meeting notes as an intake document, not as proof that a proposed position was approved. A productive first meeting establishes what needs analysis and how that work will be completed.
Records to prepare
- Entity and ownership overview
- Three priority questions and timing
- Current advisor and preparer responsibilities
- Records available and missing
- Written scope and implementation roles
- Secure document-delivery instructions
Questions for your next review
- Which assumptions need verification before making a decision?
- Who owns the calculation, implementation and reporting?
- What change in the facts should trigger another review?
Primary reference
IRS guidance for this topic. Verify the applicable year and facts with your advisor.