Sitting down with your accountant for a tax planning session is a great way to review your finances and find ways to reduce your tax liability (as much as legally possible) by looking at tax deductions, small business tax concessions, credits, tax exemptions, rebates, etc that you may be eligible for. Tax planning can be quite complex and it's crucial to ensure that your tax planning is within the law to avoid penalties, which is why it's recommended to do this only through a qualified tax accountant. 

The cost of tax planning really depends on how complex your tax situation is and whether it’s included in your tax preparation or a standalone service. An interim tax planning report with recommendations typically costs between $500 to $1,000 for small businesses. For an hourly fee, you're probably going to be charged around $200 to $300 p/hour.