Avoid the Q4 Panic: Start Your Tax Strategy in June

If the phrase “tax strategy” makes you think of spreadsheets, receipts, and waiting until November to panic—this one’s for you.

Spoiler alert: your best tax-saving moves?They don’t happen in Q4. They happen right now.

June is the sweet spot. You’ve got a solid half-year of financial data, time to make strategic moves, and the opportunity to avoid the mad dash that happens every fall. Let’s walk through how starting your tax strategy now can save you thousands—and your sanity—later.

💸 Why Tax Planning Starts in June (Not December)

Waiting until Q4 (or worse, January) to deal with taxes is like trying to steer a cruise ship with a pool noodle. You’re limited, reactive, and stuck with what already happened.

In June:

• You have real-time financial visibility

• You still have 6 months to make tax-advantaged decisions

• Your CPA isn’t drowning in deadlines (yet)

Translation: You can be strategic—not just compliant.

✅ What You Should Review Right Now

1. Year-to-Date Profit

How much have you earned—and what’s likely coming in by year-end?

If your income has dramatically increased or dipped compared to last year, your tax obligations are likely different, too. Better to know that now than owe a surprise five-figure bill later.

2. Estimated Tax Payments

Have you made your quarterly payments? Are they accurate?

If you’re self-employed or own a pass-through entity (like an LLC or S-corp), you should be making estimated tax payments. Underpaying = penalties. Overpaying = giving the government an interest-free loan.

Adjust your next payment (due in September) based on your updated income.

3. Business Deductions + Strategy Gaps

Here’s where you can get proactive. Some tax-saving moves need to be made before December 31.

Ask:

• Have you maxed out retirement contributions?

• Are there assets or equipment purchases you should make this year?

• Should you adjust how you're paying yourself?

• Are you tracking your home office, mileage, or travel deductions?

The earlier you plan, the more you can stack legitimate deductions.

4. Entity Structure Review

Your business structure affects your taxes—period.

June is a smart time to evaluate whether:

• You should elect S-Corp status for savings on self-employment tax

• You’re better off filing jointly or separately (for multi-member LLCs)

• Your state or local tax liabilities could be reduced through restructuring

Talk to your fractional CFO (hi 👋) or CPA before making changes—but don’t wait until December when the window is closing.

🔍 Proactive Moves to Make Now

• Schedule a tax projection meeting with your accountant

• Reevaluate your pay structure (especially if you're taking draws)

• Prepay eligible expenses if your cash flow allows it

• Strategically time income or invoicing if you’re cash-basis

• Set up a bookkeeping clean-up plan so your numbers are audit-ready

June is also a great time to update your tax calendar, prep for Q3 payments, and document what’s deductible now so you’re not stuck sorting receipts later.

🧠 TL;DR: Tax Planning is a Summer Activity

The businesses that win tax season?They start in June—not in panic mode.

By getting ahead of your tax strategy now, you’re giving yourself options. You’re creating flexibility. And you’re setting yourself up for a profitable—and peaceful—Q4.

Ready to ditch the scramble?

👉 Book a Tax Strategy Session with Western Reserve Consulting. We’ll walk through your year-to-date numbers, run projections, and help you make strategic moves before it’s too late.

Don’t let taxes sneak up on you. Let’s plan smarter, not sweat harder.