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Key Takeaways New tax law updates make the fourth quarter a critical window for entrepreneurs to reassess how their businesses are structured and taxed.
Strategic year-end planning around deductions and state taxes could unlock meaningful savings if reviewed before the calendar closes.
The clock is ticking for entrepreneurs to take full advantage of the new tax law changes. With the One Big Beautiful Bill Act introducing significant updates, there’s never been a better time to revisit your tax strategy.
Here are three actions I’m recommending every entrepreneur take in the fourth quarter.
Related: I Work With High-Earning Entrepreneurs — This Year-End Practice Prevents Money Issues
1. Review your entity structure
Choosing the wrong entity structure is the single biggest mistake that I see investors and entrepreneurs make. Luckily, these mistakes aren’t irreversible. In fact, I’ve seen entrepreneurs save $100,000 or more just by making a strategic change. With the recent changes in the tax law, it’s more important than ever to review this foundational part of your business.
The government taxes your business in one of three categories:
As a corporation (either a C corporation or an S corporation)
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