How to Predict Your Tax Bill Before it's Too Late
- Chris McCormack
- Jun 18
- 1 min read
A 2026 Tax Guide
In this episode of the Know Your Numbers Podcast, CPA and Certified Tax Planner Chris McCormack walks business owners, entrepreneurs, and investors through a step-by-step guide to running a mid-year tax projection so you can estimate your tax bill, avoid costly surprises, and uncover opportunities to legally reduce your taxes before year-end.
Know Your Numbers Podcast • Episode 146
Many business owners wait until tax season to find out what they owe, but by then, most tax-saving opportunities are gone. Chris breaks down the exact process used by professional tax planners to project taxes, calculate taxable income, understand tax brackets, apply deductions and credits, and make strategic decisions before December 31st.
Whether you're a small business owner, real estate investor, self-employed professional, freelancer, or entrepreneur, this episode will help you gain clarity on your tax situation and identify potential opportunities to keep more of your hard-earned money.
If you're looking to reduce your tax burden, improve cash flow, and make smarter financial decisions, this episode is for you.
Key Strategies in this episode:
Why Tax Projections
Updated Profit And Loss Statement
Add Back Non-deductibles
Add All Income Sources
Deductions And QBI
Tax Brackets Math
AMT And Credits
Withholding Reality Check
Project Full Year
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