As summer winds down and fall approaches, many business owners in Conway, South Carolina shift their focus to finishing the year strong. September is the perfect time to start year-end tax planning. By acting now, you can reduce your 2025 tax liability, maximize deductions, and set your business up for success heading into the new year.

At Peavy & Associates, PC, our Conway-based CPAs help local businesses stay ahead with smart, proactive planning. Here are some essential strategies to consider this fall.

1. Review Your Estimated Tax Payments

If your business pays quarterly estimated taxes, September is an ideal time to review your payments and ensure you’re on track. Underpaying can result in penalties, while overpaying ties up valuable cash flow. A mid-year review helps you strike the right balance.

2. Maximize Retirement Contributions

Retirement plans like 401(k)s, SIMPLE IRAs, and SEP IRAs aren’t just a benefit for employees—they can also provide significant tax advantages for employers. Contributions made before year-end may reduce taxable income, lowering your business’s overall tax liability.

3. Consider Equipment & Asset Purchases

Thinking about investing in new equipment, technology, or vehicles for your business? Certain purchases may qualify for Section 179 deductions or bonus depreciation, allowing you to write off expenses this year rather than depreciating them over time.

4. Review Business Expenses for Missed Deductions

From home office expenses to mileage and business travel, small deductions add up. A September review of expenses ensures nothing slips through the cracks before filing season.

5. Work with a Local CPA Before Year-End

The biggest mistake many business owners make is waiting until January to think about taxes. By partnering with a trusted Conway CPA firm like Peavy & Associates now, you’ll have time to implement strategies that can make a real difference in your 2025 tax outcome.

Prepare for a Strong Year-End with Peavy & Associates

Don’t wait until tax season to start planning—by then, it may be too late to make meaningful changes. At Peavy & Associates, PC, our team of experienced accountants helps Conway businesses save money, avoid surprises, and plan confidently for the future.

📞 Call us today to schedule your year-end tax planning consultation in Conway, SC, and let’s finish 2025 on a strong note!