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Midyear Tax Planning Strategies for Noncorporate Small Business Owners

ARTICLE | July 15, 2026

Authored by Vasquez + Company

For small business owners operating as sole proprietors, partnerships, S corporations, or LLCs, your business's tax picture is inseparable from your personal one. That makes midyear an ideal time to pause, assess where you stand, and take advantage of planning opportunities before they slip away. With the One Big Beautiful Bill Act now law, key provisions, including favorable individual tax rates, the Section 199A qualified business income (QBI) deduction, and an enhanced employer-provided child care credit, have been made permanent. Understanding how these rules apply to your situation could meaningfully reduce your tax burden.

Read the full article here.

 

Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.  

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