When most people think about taxes, they picture gathering documents and racing to meet the filing deadline. But there's a lot more to managing taxes than filing once a year. Tax preparation and tax strategy may sound similar, but they serve very different purposes. While one focuses on compliance, the other focuses on building long-term financial benefits.

Let's break down these concepts and explain why working with a trusted CPA can make a significant difference in your financial outlook.

When it comes to managing your finances, communication with your tax advisor is critical. It's easy to think that the job is done once your return has been filed—but a good tax advisor does so much more than file your taxes. If your CPA just processes the numbers without offering proactive advice, you might miss some crucial opportunities to save money or to make more advantageous financial decisions.