Focus CPA urges business owners to act on mid-year tax moves before Q3 closes

Focus CPA Group is urging business owners to use the weeks before the end of Q3 2026 to review taxes, retirement contributions, entity structure and estimated payments. The firm says acting now can reduce tax bills and avoid missed opportunities that disappear once the year ends.

Why it matters: - Business owners can still change 2026 tax outcomes before year-end. - Mid-year planning can lower current-year tax liability, improve cash flow and reduce penalty risk. - Waiting until filing season limits options that must be set in motion before December 31.

What happened: - Focus CPA Group, led by Amit Chandel, CPA and LLM (Tax), outlined tax planning moves business owners should make before Q3 2026 ends. - Chandel said business owners who have not reviewed their numbers with a CPA by mid-year are likely leaving money on the table. - The firm said the summer months are the best time to adjust 2026 planning while there is still time to act.

The details: - Retirement plan contributions are a priority, including SEP IRAs, Solo 401(k)s and defined benefit plans. - Those retirement vehicles can build long-term wealth and reduce current-year taxable income. - Contribution limits and plan structures should be finalized before year-end. - Entity structure should be reviewed as a business grows. - Sole proprietors and single-member LLCs may benefit from an S-Corporation election if self-employment tax exposure is high enough. - That review needs enough lead time to implement properly. - Equipment purchases should be timed with available deductions instead of rushed in December. - Estimated tax payments should be revisited mid-year for businesses with fluctuating income. - Adjusting payments now can prevent overpayment and underpayment penalties. - Business expense documentation should be checked mid-year so deductions are tracked and categorized correctly. - Reconstructing records during filing season is harder and less accurate.

Between the lines: - State-specific tax rules can create planning opportunities or compliance risks that generic software may miss. - Chandel said combined state and federal tax rates can make proactive planning more valuable in California than in lower-tax states. - The message is also a cash-flow warning: smaller businesses can feel the effect of missed tax moves more directly than larger companies.

What's next: - Business owners who act now can review mid-year numbers, adjust estimated taxes, evaluate entity structure and finalize retirement moves before year-end. - Focus CPA Group said the window for meaningful 2026 changes gets smaller each month. - The firm offers tax planning, compliance, entity structuring and multi-year strategy services for business owners. - Focus CPA Group also launched SWAT Advisors in 2023 as a specialized subsidiary focused on proactive tax planning for high-income business owners and professionals. - More information is available on the firm's website.