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Mid-Year Tax Planning: 5 Moves Small Businesses Should Make Before December

Mid-year is one of the most important times for small business tax planning—but it’s often skipped.

By the time December arrives, most decisions are locked in. A quick check-in now can help you adjust early and avoid surprises later.

Here are five key moves to make before year-end.

  1. Recheck Your Profit and Tax Outlook

Start by updating your year-to-date numbers. Your tax situation depends on how your profit is trending, so it’s important to see whether you’re ahead or behind your original projections and what that means for year-end.

  1. Review Estimated Tax Payments

Many small businesses underpay taxes during the year without realizing it. Mid-year is the time to compare actual income to what you expected and adjust estimated payments if needed so you’re not caught off guard later.

  1. Plan Equipment Purchases

If you’re thinking about buying equipment or vehicles, timing can impact your tax bill. Review whether purchases should happen now or later in the year and how deductions like Section 179 or bonus depreciation may apply.

  1. Review Owner Pay and Retirement Contributions

Owner compensation affects both taxes and cash flow. This is a good time to look at salary versus distributions, and whether retirement contributions like a SEP IRA, SIMPLE IRA, or 401(k) need to be adjusted before year-end.

  1. Look at Cash Flow, Not Just Profit

Profit doesn’t always reflect available cash. Review receivables, upcoming expenses, and tax payments so you understand your real cash position heading into the second half of the year.

Why This Matters

Mid-year planning helps you avoid surprises, manage cash flow better, and make smarter year-end decisions while you still have time to act.

Schedule a Mid-Year Review

If you haven’t reviewed your numbers yet, now is the time.

A mid-year check-in with your accountant can help you update your tax outlook, identify planning opportunities, and make adjustments before year-end.

If you’d like help reviewing your 2026 position, contact our office—we’re here to help you stay ahead.

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CHRISTINA IMPERIOLI

Supervisor, CPA

Christina Imperioli is a Supervisor at Accavallo & Company, LLC, where she specializes in the preparation and review of individual and business tax returns across a variety of industries. With a focus on accuracy, client service, and technical expertise, she plays a key role in helping clients navigate complex tax matters.

She began her career as a Staff Accountant at The Innovative CPA Group, quickly rising through the ranks to Senior Accountant and ultimately Supervisor, demonstrating a strong commitment to professional growth and leadership.

Christina is a Certified Public Accountant and an active member of both the Connecticut Society of CPAs (CTCPA) and the American Institute of Certified Public Accountants (AICPA). She holds a Bachelor of Business Administration in Financial Accounting from Western Connecticut State University.

Throughout her career, she has worked with clients in the real estate, construction, and retail sectors, bringing valuable insight and industry-specific knowledge to every engagement.

Outside of work, she enjoys traveling with her husband and son, spending time with her three dogs—two rescues named Cole and Indigo, and a Brussels Griffon named Louie—and exploring local bookstores. Christina is a passionate reader and podcast enthusiast, she often listens to new episodes during her daily commute.

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Sherri Fisher is a Tax Manager at Accavallo & Company, LLC.  Sherri has longstanding expertise in Trust and Estate Taxation, Eldercare, and Estate planning. Sherri appreciates the relationships she has built with estate planning attorneys and advisors, to provide a team approach to assisting her clients. Sherri also has seasoned experience in business and individual taxation and is partial to assisting start-ups in developing overall accounting and operating plans.

Prior to joining Accavallo & Company, LLC, Sherri was a manager in a large firm, servicing high net worth trust clients, business, and personal clients. She was also a Partner in a large bookkeeping firm, which specialized in cloud accounting systems for regional and national companies. Sherri led a team in assisting clients to organize their accounting systems.  She is a graduate of Florida Atlantic University with a B.S. degree in Accounting.    

Sherri’s experience includes working with companies and organizations in a variety of industries including:

  • Investment Trusts

  • DAPT and Family Investment Partnerships

  • Estate and Probate Administration

  • E-Commerce

  • Manufacturing

  • Construction

  • Real Estate Investment

  • Marketing and Service-based industries

In addition to her professional accomplishments, Sherri is an Intuit Advanced Pro Advisor, Intuit Future Firm Advisory Board member, member of the Valley WIN Network, and proudly served as past Connecticut Public School liaison for the Yale Tommy Fund for Childhood Cancer. Sherri enjoys time with her family, Cleveland sports, thrifting and gardening.