How Smart Business Owners Plan All Year for Tax Season
- Chris McCormack
- 2 days ago
- 2 min read
Are you waiting until tax season to start thinking about taxes? That could be costing your business money.
In this episode of the Know Your Numbers Podcast, Chris McCormack breaks down the quarterly tax planning system used at Better Books to help business owners, real estate investors, and high-income earners take a more proactive approach to taxes.
Know Your Numbers Podcast • Episode 156
Tax planning isn't something that should only happen in February, March, or April. By then, many of the opportunities to make strategic decisions may already be gone.
Instead, effective tax planning starts with accurate bookkeeping and follows a consistent rhythm throughout the year. Chris explains what business owners should be reviewing in Q1, Q2, Q3, and Q4 and how each quarter plays a different role in preparing for and potentially reducing your tax liability.
From reviewing your prior-year financials and entity structure to forecasting income, evaluating retirement contributions, considering real estate strategies, accelerating deductions, and deferring income, this episode provides a practical framework for making tax planning a year-round system instead of a last-minute scramble.
Key strategies in this episode:
Books Before Strategy
Quarterly Planning Framework
Quarter One Setup
Quarter Two Adjustments
Quarter Three Midyear Review
Quarter Four Final Plays
Deadlines And Action Steps
The tax code isn't just a burden. When you plan ahead, it can become a blueprint for making smarter financial decisions and building long-term wealth.
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