5 Mid-Year Tax Moves That Could Save Your Small Family Business Thousands.
- Karolyn & Bryan LaLonde
- Aug 11
- 3 min read
The decisions you make in the next few weeks can have a real impact on your April tax bill.
We know how much thought and energy you put into running your business and how every bit of savings matters.
For small family business owners, an extra cushion can mean paying yourself on time, covering payroll without stress, reinvesting in growth, or finally taking that deep breath you’ve been holding.
The tricky part? Most tax-saving opportunities vanish if you wait until the end of the year. That’s why now, mid-year, is the sweet spot. You still have options, and the changes you make today can put you in a far better position when tax season rolls around.
Here are five moves that can help you keep more of what you’ve worked so hard to earn.
1️⃣ Check Your Year-to-Date Profit
Why it matters: Your estimated taxes are based on projections.
If business has been better (or slower) than expected, you might be overpaying or underpaying.
Benefit: Paying the right amount avoids penalties and keeps cash flowing where it belongs—your business.
Watch out for: Waiting until December.
The September 15 estimated tax deadline is your next big opportunity to adjust.
2️⃣ Start Retirement Contributions For Your Small Family Business Now
Why it matters: Contributions to a SEP, SIMPLE, or Solo 401(k) reduce your taxable income and grow your future savings.
Benefit: You lower this year’s tax bill and spread the cash impact out over several months instead of one big April hit.
Watch out for: Overcommitting.
Pick a realistic monthly amount you can maintain through year-end.
3️⃣ Upgrade Equipment or Software
Why it matters: Section 179 allows you to deduct the full cost of qualifying purchases placed in service before year-end.
Benefit: You improve your workflow now and get the tax deduction in the same year.
Watch out for: “Placed in service” means ready to use, not still in the box.
4️⃣ Double-Check Payroll & Contractors
Why it matters: Misclassifying employees and contractors can lead to IRS penalties, back taxes, and even legal fees.
Benefit: Clean payroll records now mean smooth W-2 and 1099 filing later.
Watch out for: Assuming “how it’s always been” is correct.
Laws change, and so do roles and work with an EA during tax season to assure you have a resources trained in the most up to date tax law.
5️⃣ Give with Intention
Why it matters: Charitable giving can be a smart tax strategy, but timing is everything for deductions.
Benefit: You support causes you care about and potentially increase your tax benefit.
Watch out for: Skipping documentation.
Keep receipts and confirmations, especially for non-cash donations.
The SBS Way Forward
We know these decisions can feel like “one more thing” on an already long to-do list. But taking just a little time now can make a big difference later.
less stress, fewer surprises, and more money staying in your business where it belongs.
If you’re not sure where to start, we’ll walk through it with you.
We’ll run the reports, explain the numbers, and help you make the right moves while you still have time to make them count.
Because at the end of the day, your success isn’t just about the numbers, it’s about the peace of mind that comes from knowing you’re in control.
📅 Let’s get your August tax plan in place today so next April feels a whole lot easier.
Let’s Connect
We offer remote-friendly services with local understanding, and a free intro call to see if we’re a fit.
Not ready to schedule? Learn more about The SBS Way.
Stillwater Business Solutions is run by Karolyn and Bryan, a tech-savvy and community-focused team who believe bookkeeping should feel collaborative and empowering—not confusing. Whether you're looking to simplify your systems or get support you can trust, we're here when you're ready. No pressure. Just people-first accounting that fits your business.
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