3 Smart Tax Moves to Make Before the Year Ends

October is here, and if you’re a small business owner, you might be telling yourself you’ll “deal with taxes later.” I want to show you why now is actually the best time to take action—and how a few smart moves can save you real money.

At Misty Newsome CPA, we’ve helped hundreds of business owners shift from scrambling at year-end to feeling calm, prepared, and even confident about their tax strategy. Here are three steps you can still take before Q4 to set yourself up for a smoother finish to the year.

1. Review Your Numbers Before the Year Gets Away

Take 30 minutes this month to look at your year-to-date revenue, expenses, and profit margins. Ask yourself:

• Am I where I expected to be?

• Am I ahead or behind?

• Has anything changed in how money is flowing in or out?

This isn’t just bookkeeping—it’s the foundation for smart decisions. If business is stronger than expected, tax planning becomes even more important. If it’s slower, you’ll want to plan differently for Q4.

For help identifying overlooked write-offs, check out our post on 5 uncommon business expenses new entrepreneurs often forget to track.

2. Adjust Your Tax Payment Strategically

September and January are key months for estimated tax payments. Underpaying now can result in costly penalties later—but here’s the good news: if your income is higher or lower than expected, you can adjust this payment strategically.

With the right CPA in your corner, you can fine-tune payments so you’re not overpaying the IRS and not risking a surprise tax bill come spring. That means more cash stays where it belongs—in your business.

If you’re unsure how to track payments or use the IRS portal, our guide on managing IRS deadlines, payments, and your account is a great place to start.

3. Make Smart Moves Before Year-End

Thinking about upgrading equipment, contributing to retirement accounts, or making a charitable donation? These are powerful tax-saving tools—but timing and structure matter.

Too often, we see business owners try to squeeze in big financial decisions in December without fully understanding the tax impact. A short strategy session now can help you make these moves with clarity and confidence.

Not sure what documents you’ll need for that planning session? Take a look at our guide on how to prepare your financial documents before hiring an accountant.

The Bottom Line

The best tax savings don’t happen in April. They happen now, while you still have time to plan and act.

If you haven’t reviewed your financials or talked through tax strategy yet this year, now’s the time. Our team at Misty Newsome CPA helps small business owners just like you understand your numbers, prepare for what’s ahead, and save money with strategy—not surprises.

Book a call with us today and let’s look at your numbers together before the year ends.