August Newsletter

Key Actions

August is a great time to pause, get organized, and make sure your finances are setting you up for a strong finish to the year. As summer winds down and the busy fall season approaches, spending a little time on your books now can save you a lot of stress later.

Here are a few things to fo

cus on this month:

• Review your year-to-date financial reports. Take a look at your Profit & Loss, Balance Sheet, and cash flow to see how your business is really performing.

• Make sure your bookkeeping is up to date before business starts getting busier this fall.

• If you filed a tax extension, start preparing now for the September 15 deadline (for many partnerships and S corporations) or the October 15 deadline (for many individual returns).

• If you filed an extension, talk with your tax professional about whether you're eligible to make SEP IRA or Solo 401(k) contributions by the October 15 deadline to potentially reduce your taxable income.

• Review any large expenses coming up over the next few months, and make sure you've set aside enough cash for taxes and other business obligations.

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A little planning now can help you head into the fall with more confidence and fewer surprises.

Upcoming Tax Deadlines

Mark these important dates on your calendar:

September 15, 2026

• Third quarter estimated tax payment due for income earned June 1 to August 31, 2026.

•  Extended deadline to file S corporation (Form 1120-S) and Partnership (Form 1065) returns if you requested an extension.

October 15, 2026

• Extended deadline to file your 2025 individual federal tax return if you requested an extension.

A Few Final Thoughts

As summer starts to wind down, life has a way of getting hectic. Whether you're getting the kids ready for school, gearing up for a busy season in your business, or simply trying to get back into a routine, now is a great time to make sure your finances are keeping pace.

If your bookkeeping has slipped to the bottom of the to-do list, don't worry. You’re not alone. Taking a little time now to get caught up can give you the confidence you need for the rest of the year.

To help get you started on your way to organization, we're offering a free Business Mileage Tracker. Use it to keep your business miles organized throughout the year, so you have the information you need when tax time comes around.

Get the Business Mileage Tracker

Here's to a productive, organized, and successful August!