Amerant Mortgage President Shares Expert Tax Preparation Insights
Tax season can be stressful for many individuals and business owners, but with proper planning and the right banking relationships, it doesn’t have to be. Recently, Tony Eelman, President of Amerant Mortgage, appeared on Tampa Bay’s Morning Blend to discuss the importance of year-round tax planning and how banking relationships can play a crucial role in this process.
The Value of Year-Round Tax Planning
According to Eelman, one of the biggest mistakes people make is waiting until the last minute to think about their taxes. He emphasized that tax planning should be an ongoing conversation throughout the year, not just something to address as the filing deadline approaches.
“It’s essential to plan throughout the year and keep track of your documents,” Eelman noted during his interview. He also stressed the importance of discussing tax needs with family members and business partners well before the filing deadline, which is April 15th for most Americans and May 1st this year for Florida residents.
How Your Banker Can Help with Tax Preparation
Developing a strong relationship with your banker can be invaluable when it comes to tax preparation. Eelman highlighted several ways that bankers can assist clients with managing their tax liabilities:
Understanding tax obligations ahead of time allows individuals and businesses to prepare for potential capital needs.
A good banker can help clients access various financial tools and products to address these needs, including:
• Treasury Management services
• Business lines of credit
• Personal Home Equity Lines of Credit (HELOCs)
• Wealth management products that allow clients to leverage assets
“It’s important to have people that understand you, your relationships, and what your personal needs are,” Eelman explained, emphasizing the personalized approach that Amerant Bank takes with its clients.
Benefits of Filing Early
Eelman also discussed several advantages to filing taxes early rather than waiting until the deadline:
Early filing provides advance knowledge of potential cash needs, which can help individuals and businesses plan for major expenses such as purchasing a home or paying off substantial debts. Additionally, filing early serves as an important safeguard against tax fraud, as it reduces the window of opportunity for identity thieves to file fraudulent returns using stolen information.
Smart Ways to Use Your Tax Refund
For those expecting a tax refund, Eelman offered guidance on making wise financial decisions with those funds. He stressed the importance of aligning refund usage with personal financial goals, whether that means:
• Saving for a home purchase
• Building a college fund
• Making strategic investments
Eelman noted that Amerant Bank has a dedicated team of professionals who can help clients develop strategies for their long-term financial goals, including effective utilization of tax refunds.
Building a Financial Partnership
Throughout his interview, Eelman repeatedly emphasized that successful financial planning, including tax preparation, relies on strong relationships between clients and their financial institutions. By working with bankers who understand their unique situations, clients can develop more effective strategies for managing their tax obligations while advancing their broader financial objectives.
For those looking to improve their approach to tax planning, consulting with financial professionals at institutions like Amerant Bank can provide valuable insights and access to tools that make the process more manageable and potentially more beneficial to their overall financial health.
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