Tax Season is Over, Now What? Planning for next season starts now!
Congratulations!! You made it through another tax season.
Whether you filed early, submitted just in time, or bought yourself some breathing room
with an extension, there’s a moment of relief that comes with getting it done. The
deadlines are behind you, the paperwork is off your desk, and for a second it feels like
you can finally move on.
But here’s the truth: if you want the next tax season to be easier, less expensive, and
more strategic, now is the time to start planning. Most people only think about taxes when deadlines are staring them down. But that approach leaves a lot of money on the table. The most valuable tax-saving strategies, the ones that move the needle, need time to implement.
Tax planning isn’t just about filing a return. It’s about aligning your financial decisions
with your tax strategy before the year ends. And the earlier you start, the more options
you have to make meaningful adjustments. You’ve got a clear view of your financial activity. You know where the surprises were, what worked well, and what you wish you’d done differently.
Now’s the perfect time to use that insight to get ahead. That might mean:
- Revisiting your business structure to evaluate if an S Corp election makes sense
- Adjusting your withholdings or quarterly estimates to prevent underpayment
penalties - Building out a more efficient bookkeeping and expense tracking system
Thinking about buying property, investing in your business, hiring staff, or launching
something new this year? Those milestones come with tax implications.
When you plan for them in advance, you can structure deals and transactions in a way
that minimizes taxes and maximizes benefits. Without planning, those same moves
could create avoidable liabilities.
This is why proactive tax planning isn’t just for large corporations or ultra-high-net-
worth individuals. It’s essential for small business owners and growing entrepreneurs
who want to make confident, informed decisions.
One of the biggest tax-time stressors is poor recordkeeping. Scrambling to find receipts
or sort transactions at the eleventh hour adds pressure and opens the door for missed
deductions or errors.
Now is the time to clean up your systems. Whether that means syncing your bank
accounts, organizing your chart of accounts, or outsourcing bookkeeping altogether set
yourself up for success before things get busy again.
The people who see the biggest tax benefits aren’t doing anything flashy they’re just
planning ahead. They’re checking in quarterly. They’re talking to their CPA before they
make big moves and they’re treating taxes as part of their long-term strategy, not just
an annual obligation.
Consistent habits mean fewer surprises and more accurate data later. And, better
data leads to better decisions and results. Now is the time to get a head start on your tax planning strategy for next year.
Shelton Brown, CPA
Accounting Consulting Taxes and Human Resources, Inc.
