Section 179 Deductions Archives

8 Year-End Tax-Saving Strategies for Business Owners in 2026

By Office Staff|2026-10-27T16:13:26-07:00October 27, 2026|Categories: Business Taxes|Tags: Business Tax Planning, Qualified Business Income, Section 179 Deductions, Small Business Tax Deductions|0 Comments

If you own or manage a business, you’re probably spending time thinking about taxes, especially as the end of the year approaches. With 2026 drawing to a close, now is a good time to review your business finances with your CPA and consider opportunities to reduce your federal income tax liability before Dec. 31, 2026.

The One Big Beautiful Bill Act (H.R. 1) — see “What the Passage of the One Big Beautiful Bill Mean for You and Your Business” here on the SWC Blog — extended several business-friendly tax provisions and expanded others. Signed into law in July 2025, these changes create opportunities to reduce taxable business income and make decisions that may benefit your business.

Here at SWC, we hate to see business owners pay more in taxes than they’re legally obligated to. That’s why we encourage our clients to schedule year-end tax projection appointments while there’s still time to make adjustments that could reduce their 2026 tax bills.

In our recently published post, “2026 Year-End Tax Checklist: 12 Ways to Save Before December 31,” we covered tax-saving strategies for individual taxpayers. In this post, we’re focusing on eight opportunities specifically for business owners and those who manage businesses, starting with retirement plan considerations.

Tip No. 1: Establish a Retirement Plan or Increase Your Contributions

If your business doesn’t already offer a retirement plan, establishing one may be among the most effective ways to reduce taxable income while helping you and your employees save for retirement. Several retirement plan options are available to businesses, and the best choice depends on your business structure and the number of employees you have.

Here are three common choices: Continue reading… Continue reading… Continue reading…

Midyear Tax Planning for Small Businesses: How to Reduce Your 2026 Tax Bill

By Office Staff|2026-06-12T12:32:06-07:00June 12, 2026|Categories: Business Taxes|Tags: 1099 Rules, Bonus Depreciation, Charitable Giving Strategies, Employing Family Members, Mid-Year Meeting, Qualified Business Income Deduction, Qualified Small Business Stock, Section 179 Deductions|0 Comments

If you’re like most small-business owners, taxes probably aren’t even a blip on your radar screen right now. After all, you just filed your tax returns on April 15, so why bring up taxes less than two months later?

The reason? Summer is the best time to take a fresh look at your business tax situation. With several months remaining in the year, you have time to make adjustments that could reduce your 2026 tax bill, improve cash flow, reduce tax liabilities, and help you avoid unpleasant surprises next spring. The important thing is to act before year-end. Many of the most effective tax-saving and wealth-building strategies work best when implemented well in advance, not in a last-minute scramble in December.

Last week, we presented forward-looking advice for saving on personal income taxes. This week, we shift our attention to helping small-business owners keep more of their hard-earned profits. The following tax-saving strategies and tactics can help you identify opportunities, evaluate your options, and position your business for a stronger financial finish to 2026.

Maximize Your Qualified Business Income (QBI) Deduction

One of the most valuable tax breaks available to many business owners is the Qualified Business Income (QBI) deduction. It allows many owners of pass-through businesses to deduct up to 20 percent of their business income right off the top. For example, if your business generates $100,000 in qualified business income, you may be able to deduct up to $20,000 and pay federal income tax on the remaining $80,000. Pass-through businesses (income passes through the business to the owners) include: