As summer winds down and routines return, many small business owners use September as a fresh start to refocus on their operations and financial goals. It’s the ideal time to get organized, tighten up your records, and make sure your tax strategy sets you up for a strong year-end. With just a few proactive steps, you can reduce your tax burden and free up cash flow to support your next stage of growth.
1. Organize and Update Your Financial Records
Clean, accurate records are the foundation of strong tax planning. Review your bookkeeping to ensure all income and expenses are properly categorized and up to date. This makes it easier to spot missed deductions and prevents year-end stress. Partnering with experienced Massachusetts accountants can ensure your books are in excellent shape well before tax season arrives.
2. Review Deductions for Training and Education
September often brings renewed professional development activity, from workshops to certification courses. Many of these expenses are deductible for small business owners, but they must be properly documented. Our tax planning specialists can help determine which education-related costs qualify, ensuring you don’t leave valuable deductions on the table.
3. Plan for Year-End Bonuses and Benefits
Employee bonuses, raises, or benefits adjustments made late in the year can have major tax implications. Reviewing your compensation plans now gives you time to budget appropriately and avoid last-minute surprises. Consulting with Kent, Parker & Associates ensures your plans align with your tax goals while supporting employee retention.
4. Refresh Your Budgets and Forecasts for Q4
The start of fall is an ideal time to review your cash flow and project revenue for the final quarter. Updating your financial forecasts helps you spot gaps, manage spending, and prepare for tax liabilities. Our business advisory experts can work with you to build a plan that keeps your finances on track through year-end.
5. Schedule a Mid-Year Tax Strategy Review
Even if you’ve been keeping up with your filings, a quick strategy session can reveal new opportunities. From adjusting estimated payments to leveraging Section 179 deductions on planned purchases, a proactive review can significantly lower your tax bill. Meeting with our tax professionals now gives you time to act before deadlines hit.
Refocus Your Business With Expert Support
For small business owners, September is the perfect time to get back on track. By organizing your records, updating your budgets, and reviewing your tax strategy early, you can set yourself up for a smoother—and more profitable—year-end.
At Kent, Parker & Associates, we help small business owners simplify tax planning and build long-term financial strength. Call us today at (508) 457-1700 or schedule your tax strategy consultation to start the season off right.