It’s June. Feels early, right? The holidays are months away. Tax season? Even farther.
But here’s the thing: If you wait until December to start thinking about your taxes, you’re already out of time. The damage has been done and your accountant can only say, “Well… there’s always next year.”
Most business owners skip mid-year tax planning. And that’s exactly why they end up paying more than they should.
What Goes Wrong in June?
Plenty. June is when your tax bill quietly starts taking shape, whether you’re looking or not. If you’re having a strong year, that’s great. But if your estimated taxes have not been updated or you haven’t made any strategic moves, your April tax bill is quietly ballooning.
We see it all the time:
- Income up, taxes not adjusted
- Big purchases not planned for
- Deductions missed because nothing is being tracked
- S Corp owners still not paying themselves “reasonable compensation”
- No clue how much you actually owe so far
This is when that stuff needs to be fixed. Not December. Now.
How Small Mistakes Turn Into Big Tax Bills
When your books are off mid-year, your tax estimates are off too. That means you could be underpaying without even knowing it. If your expenses are not tracked right, deductions get missed. And if your entire tax plan is just “hope it works out,” the IRS is more than happy to let that plan fail.
June is when smart business owners stop the bleeding. It’s the last clear checkpoint before the year accelerates and the damage becomes permanent by April.
Avoid the Panic Button Later
June is the perfect time to clean things up and get a clear view of where your tax situation actually stands. This is not about massive changes. It’s about:
- Reviewing your income and expenses so far
- Updating your tax estimate before it’s too late
- Catching costly mistakes while they are still fixable
- Planning smart moves to reduce what you owe
A 30-minute review could save you thousands.
Don’t Wait for a Nasty Surprise in April
The earlier you plan, the more options you have. That’s true for taxes, bookkeeping and just about everything else in business.
You’ve still got time to fix it. But not much, so let’s get moving.
Schedule your mid-year check-in to get your tax game in shape before it costs you.
