Tax Strategies That Still Work in 2025
August isn’t just the last stretch of summer; it’s your strategic edge. While many business owners coast through the rest of Q3, smart entrepreneurs use this month to tighten up their finances and lock in tax savings before it’s too late.
Here are five tax strategies you can still implement in 2025 and why August is the perfect time to act:
1. Check In on Your Estimated Taxes
Quarterly taxes aren’t just for peace of mind, they’re for penalty prevention. Now’s the time to:
Review what you’ve paid so far.
Project what you’ll owe based on YTD earnings.
Adjust Q3 and Q4 payments accordingly.
Pro Tip: If you’ve made more than expected this year, don’t wait until the last quarter to catch up.
2. Optimize Your S-Corp Payroll
If you're operating as an S-Corp, it’s time to check:
Have you paid yourself reasonable compensation so far?
Are your distributions in proportion?
Could you be saving more on self-employment taxes?
August gives you time to make necessary adjustments without raising IRS red flags later.
3. Maximize Your Retirement Contributions
There’s still time to make strategic contributions to:
Solo 401(k)
SEP IRA
Traditional IRA (if eligible)
Retirement contributions lower your taxable income and build long-term wealth.
4. Plan Strategic Business Investments
Thinking about upgrading equipment, software, or services? August is a great time to:
Time purchases for bonus depreciation or Section 179.
Spread costs wisely across Q3 and Q4.
Buying now can help you boost deductions and productivity before year-end.
5. Audit Your Bookkeeping Before It’s a Fire Drill
Waiting until December to fix your books is a recipe for stress (and missed deductions). Use August to:
Reconcile your accounts
Categorize expenses properly
Flag anything unusual for your CPA
Clean books = smarter tax planning.
If you’re ready to make these moves but want guidance, let’s talk strategy!
August gives you a rare window, you’re far enough into the year to have real data and close enough to the end to make meaningful changes. Use it. Don’t let tax season sneak up on you.
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