Introduction
Taxes are won during the year, not at filing.
Q1: Structure & Baselines
- Entity & Owner Pay: If S-Corp, set reasonable salary; remainder as distributions.
- Accountable Plan: Reimburse home office, phone, internet, mileage properly.
- Retirement Plan: Decide SEP vs. Solo 401(k) (deferral + profit share potential).
- Quarterly Estimates: Calculate and calendar all due dates.
Q2: deductions you’ll actually use
- Equipment & Vehicles: Section 179 and bonus depreciation—model cash impact first.
- R&D Credit (if applicable): W-2 wages for qualifying work; document aggressively.
- Health Reimbursements: ICHRA/QSEHRA options for small teams.
Q3: Mid-Year True-Up
- Mid-Year Tax Projection: Update for YTD profit; adjust estimates.
- Inventory/COGS: Confirm method and documentation.
- Charitable Strategy: Cash vs. appreciated assets; donor-advised funds.
Q4: Finish Strong (No Fire Drills)
- Pre-Year-End Spend: Only on items with clear ROI and documentation.
- Retirement Top-Off: Employer contributions before deadlines.
- 1099 & W-9 Hygiene: Collect W-9s now, not in January.
- Clean Close: lock books by the 10th of January.
Documentation That Saves You
- Mileage log (app), receipts tied to transactions, payroll reports, board/owner minutes for big decisions, accountable plan memos.
Next step: Want a tailored calendar and mid-year projection? We’ll build your plan, coordinate with your CPA, and keep you on schedule.
