The Stacking Benjamins Show · Monday, August 3, 2026
Joe breaks down the tax forecasting process into four key elements: projecting full-year income based on past and current performance, estimating deductions and credits, calculating expected tax liability, and tracking taxes already paid. This holistic view helps in identifying potential tax surprises.
“Yeah, I love everything that you said. And in my head, I'm breaking those up kind of into four things. First is, based on last year and where I am this year, how much money do I expect to make? If you think the business is going well this year and you get bonuses, my bonus going to be about the same. Those are the hard parts, you know, these lumpy ones off can change things. But we've got to look at what the expected full year income. So I love the fact that you go back, look at last year compared to where you were at this point last year. Second, your expected deductions and credits that you're going to get. Third, how much tax do I think I'm going to pay. And then fourth, how much of I already paid?”