Most business owners think about their taxes in April, when the return is due, or in December, when the year is almost over. Both of those moments are useful, but neither is when the most meaningful planning actually happens: June is.
The middle of the year is one of the best times to take a clear-eyed look at where your business stands. You have six months of real data behind you and six months still ahead — enough time to make decisions that will actually affect your outcome, rather than simply documenting what already happened.
Where Do Your Estimated Tax Payments Stand?
The Q2 estimated tax payment is due June 15, which makes this a natural moment to ask a more important question: are your estimates actually accurate?
Underpaying can trigger penalties on top of what you owe at year-end. Overpaying ties up cash your business could be putting to work. Both are avoidable with a mid-year review. If revenue is running ahead of last year, your payments may need to adjust upward. If business has been slower, there may be room to recalibrate.
Are You Taking Advantage of What the Tax Code Is Offering?
Several OBBBA provisions that took effect January 1, 2026 represent real planning opportunities — but only if you’ve adjusted your approach to reflect them. A few worth reviewing with your advisor:
Bonus depreciation is back at 100%, meaning businesses can immediately deduct the full cost of qualified equipment placed in service this year, rather than depreciating it over time. Section 179 limits have increased to $2.5 million, with phase-outs beginning at $4 million. And expanded QBI deduction thresholds mean some pass-through owners — S corporations, partnerships and LLCs — who didn’t previously qualify may now be eligible for a larger deduction. It’s worth confirming where you stand.
A Review Now Prevents Surprises Later
The business owners who feel most in control of their tax situation aren’t the ones who are best at filing returns — they’re the ones who stay connected to their numbers throughout the year.
At Dunn CPA Firm, mid-year reviews are part of how we work with clients. We’d rather have a conversation in June that changes your trajectory for the second half of the year than a conversation in December about options that have already expired.
If you haven’t taken a close look at where things stand since filing your 2025 return, now is a good time to do it.
