You know that feeling when tax season rolls around and you’re staring at the bill thinking:
“This could’ve been avoided… if we had just planned ahead.”
Here’s the good news: You still can. It’s July.
This is the window when high-earning business owners—especially those seeing better-than-expected results—can make moves that matter. Because waiting until Q4? That’s when options dry up and stress levels spike.
At JS Morlu, we help business owners stay ahead of the tax game—not play catch-up. Here are three smart, mid-year tax strategies you can act on now to save big next spring.
1. Revisit Your Depreciation Plan (Bonus Write-Offs Are Still on the Table)
If you’ve bought—or are planning to buy—equipment, vehicles, or software in 2025, now’s the time to talk tax. Section 179 and bonus depreciation still offer powerful deductions—but they require upfront planning.
Here’s what you should know:
- Bonus depreciation is phasing out. The 100% deduction that used to be available is dropping, which means waiting could cost you.
- Section 179 allows you to expense qualifying purchases, but only if the assets are put into use before December 31.
Pro tip: Even leased assets may qualify depending on your entity structure.
Many business owners miss these breaks because they wait until December to bring it up—when the chance to optimize has passed. Don’t be that person.
2. Maximize Retirement Contributions (Especially Yours—Not Just Your Employees’)
You already know retirement plans are a win-win: build wealth for the future and cut your tax bill today. But mid-year is when the smartest business owners take action, especially if income is trending higher than expected.
Now’s the time to:
- Set up or adjust a Solo 401(k) or SEP IRA
- Explore a Defined Benefit Plan if your income is significantly up (yes, they’re powerful and still legal)
- Re-evaluate estimated tax payments for Q3 and Q4 based on actual performance
Why now? Because setup deadlines are approaching, and contribution strategies depend on knowing your income trajectory—not guessing it.
For high-earning professionals, a Defined Benefit Plan can unlock six-figure deductions. It’s not for everyone, but if it fits, it’s a game-changer.
3. Shift Income and Expenses (You Still Control the Clock—For Now)
You can’t always control revenue. But you can control when income is recognized and when expenses hit your books.
That’s why mid-year is ideal for:
- Accelerating or deferring invoices and billing
- Prepaying expenses you’ll incur anyway
- Timing asset purchases while depreciation rules still favor you
- Using strong cash flow to fund deductions proactively
Different rules apply depending on whether you’re an S corp, partnership, or sole prop, so it’s critical to tailor your strategy. But the earlier you move, the more control you have.
Timing isn’t just about opportunity—it’s about leverage. And right now, you still have it.
Why Planning Now Beats Regret Later
We see it every year:
- The business is booming through Q3
- No tax review, no adjustments
- January rolls in—and so does the shockingly high tax bill
By then, it’s too late.
At JS Morlu, We Help You Stay Ahead
If it’s been more than six months since your last tax strategy check-in—or if your business has made big moves this year—let’s talk.
We’ll help you:
- Spot missed deductions
- Recalculate estimated tax payments
- Make smart mid-year decisions that protect your cash flow and future
Because tax season shouldn’t be a surprise attack.
It should be a strategy you design in July.
Ready for a Mid-Year Checkup?
Now’s your chance to course-correct before Q4 locks you in.
Let’s build a smart, tailored tax strategy that fits your business—and your life.