When it comes to managing your finances, you need a partner you can trust. Peavy & Associates, PC, located in Conway, South Carolina, provides comprehensive CPA services for individuals, families, and businesses. Our goal is simple: to simplify your financial life, minimize tax liability, and help you plan for long-term success.

With decades of combined experience, our certified professionals deliver expert guidance, personalized solutions, and trusted advice. Whether you need tax planning, bookkeeping, payroll, or business consulting, Peavy & Associates is your Conway CPA partner for financial clarity and confidence.

Our CPA Services in Conway, SC

1. Individual Tax Planning & Preparation

Navigating personal taxes can be overwhelming. We provide accurate, timely tax preparation, identify deductions and credits, and develop a proactive plan to reduce liability.

2. Business Accounting & Bookkeeping

From day-to-day bookkeeping to preparing financial statements, we ensure your business records are accurate, organized, and compliant.

3. Payroll Services

Reliable payroll processing and tax reporting are essential for any business. We handle the details so you can focus on running your company.

4. Tax Consulting & Strategic Planning

Our CPAs offer year-round tax planning to help you make informed financial decisions, maximize savings, and stay compliant with federal and state regulations.

5. Estate Planning & Succession Strategies

Protect your assets and plan for the future. We provide guidance on estate and trust planning, ensuring a smooth transition for your family or business.

6. Audit Assistance & Assurance

We offer support with audits, attestations, and financial reviews to protect your interests and maintain transparency.

Why Conway Residents Trust Peavy & Associates
Choosing the right CPA firm is about more than just numbers — it’s about trust, reliability, and expertise. At Peavy & Associates, we offer:

• Local Knowledge: In-depth understanding of Conway, South Carolina tax laws and business regulations.
• Personalized Solutions: Tailored strategies based on your financial goals and business needs.
• Professional Expertise: Experienced CPAs with ongoing education to stay ahead of changing regulations.
• Year-Round Support: Guidance and advice throughout the year, not just at tax time.
• Transparent Communication: Clear explanations, reporting, and pricing for peace of mind.

Benefits of Partnering with Peavy & Associates

By working with us, you gain a trusted financial partner who can help you:

• Minimize taxes and maximize deductions
• Maintain organized and accurate financial records
• Plan for retirement, growth, and major life events
• Avoid costly mistakes and IRS penalties
• Make informed financial decisions backed by professional expertise

Frequently Asked Questions

1. Who can benefit from your CPA services?

Individuals, families, small businesses, and corporations in Conway and surrounding areas benefit from our services.

2. How often should I meet with a CPA?

For optimal results, we recommend quarterly check-ins, though we tailor our services to your needs.

3. Can Peavy & Associates help with IRS audits?

Yes, we provide audit support, guidance, and representation to protect your interests.

4. Do you offer services for remote clients?

Absolutely. We work digitally with clients nationwide while providing personalized service.

5. How do I get started?

Contact us for a consultation — we’ll review your financial situation and recommend tailored solutions.

Take Control of Your Finances Today

Your financial future deserves expert guidance. Whether you’re an individual needing tax planning or a business owner seeking accurate bookkeeping and accounting, Peavy & Associates, PC is your trusted CPA firm in Conway, SC.

📍 Visit Us: 1516 E Highway 501, Unit 104, Conway, SC

📞 Call: (843) 347-0849

🌐 Website: www.peavyandassociates.com

📅 Schedule Your Consultation: Book Online

Partner with a CPA firm that puts your financial success first. Start planning smarter, growing stronger, and achieving peace of mind today.

Running a small business comes with challenges — especially when it comes to managing your finances. From tax compliance to bookkeeping and cash flow management, even minor missteps can lead to costly mistakes. That’s where Peavy & Associates, PC comes in.

Located in Conway, South Carolina, our full-service CPA firm provides personalized small business accounting and tax planning services that help business owners simplify operations, stay compliant, and plan for sustainable growth.

Comprehensive Small Business Accounting Services

At Peavy & Associates, we understand that every small business is unique. That’s why our services are tailored to meet your specific needs:

1. Bookkeeping & Financial Statements

We maintain accurate books and prepare timely financial statements so you can see exactly where your business stands.

2. Payroll Services

From employee payroll to tax reporting, we ensure accurate, on-time processing that complies with federal and state requirements.

3. Tax Planning & Preparation
Proactive tax strategies reduce liability, maximize deductions, and keep you ahead of regulatory changes.

4. QuickBooks & Accounting Software Support
We help set up, optimize, and manage your accounting software to streamline workflows and save you time.

5. Business Consulting & Advisory Services
We provide actionable insights on budgeting, forecasting, and financial decision-making to help your business thrive.

6. Audit & Assurance Services
Our team can assist with audits, reviews, and attestation services to ensure financial transparency and compliance.

Why Tax Planning is Critical for Small Businesses

Many small businesses wait until tax season to think about taxes, which can lead to surprises and lost opportunities. Year-round tax planning with Peavy & Associates helps you:

• Reduce your tax burden legally
• Take advantage of deductions and credits
• Plan for retirement contributions and business growth
• Avoid penalties and IRS issues
• Make informed financial decisions for the future

By reviewing your financials quarterly, we ensure your business stays on track and ready for any tax changes in 2025.

Frequently Asked Questions (FAQs)

1. What types of small businesses do you work with?

We work with sole proprietorships, LLCs, corporations, and partnerships across Conway and surrounding areas.

2. How often should I meet with my CPA?

We recommend at least quarterly reviews for small business owners to track finances, plan taxes, and make adjustments.

3. Can Peavy & Associates help with IRS audits?

Yes — we provide audit representation and support, guiding you through the process with confidence.

4. Do you offer remote services?

Absolutely. We work with clients digitally for bookkeeping, tax filing, and consulting while providing the same personalized service.

5. How do I get started?

Contact us for a free consultation — we’ll review your business, assess your needs, and create a plan tailored to your goals.

Why Choose Peavy & Associates in Conway, SC

• Local Expertise: We know Conway and South Carolina tax laws inside and out.
• Personalized Attention: Your business is unique, and we tailor services to match your goals.
• Trusted Professionals: Our CPAs have years of experience serving small businesses.
• Year-Round Support: We don’t disappear after filing season — we’re here all year to help you grow.
• Transparent Communication: Clear pricing, easy-to-understand reports, and proactive advice.

Book Your Small Business Accounting & Tax Consultation Today
Managing a small business doesn’t have to be stressful. With Peavy & Associates, PC, you can focus on running your business while we take care of the numbers.

📍 Visit Us: 1516 E Highway 501, Unit 104, Conway, SC

📞 Call: (843) 347-0849

🌐 Website: www.peavyandassociates.com

📅 Schedule a Consultation: Book Online

Take the first step toward stress-free finances, smarter tax planning, and sustainable business growth — partner with Peavy & Associates today.

As 2025 approaches, now is the perfect time to get your finances in order — before tax season stress sets in. Whether you’re a small business owner, freelancer, or individual filer, proactive tax planning can make a major difference in your financial outcome.

At Peavy & Associates, PC, our experienced team of CPAs and accountants in Conway, South Carolina help clients take control of their taxes, books, and business finances through personalized, year-round strategies.
Here’s your guide to effective 2025 tax planning, plus insider insights from our local experts.

Why Tax Planning Matters More Than Ever

Most people think about taxes once a year — when it’s time to file. But real financial success comes from planning all year long.

Proactive tax planning helps you:

• Reduce your overall tax liability
• Identify new deductions or credits
• Optimize business structure for savings
• Avoid surprises during filing season
• Improve long-term wealth management

When you partner with Peavy & Associates, you’re not just hiring a tax preparer — you’re gaining a trusted financial strategist who looks at the full picture.

Our Tax & Accounting Services in Conway, South Carolina

At Peavy & Associates, we deliver comprehensive financial services designed to simplify your life and strengthen your financial future.

1. Individual Tax Preparation & Planning

From standard W-2 returns to complex income portfolios, we tailor strategies to your specific situation. Our CPAs stay up to date on every IRS and South Carolina tax law change so you don’t have to.

2. Small Business Accounting & Bookkeeping

We help local businesses maintain clean financial records, track expenses, and stay compliant — freeing you to focus on growth. Whether you’re a sole proprietor or managing payroll for a team, we’ve got you covered.

3. Payroll Services

Simplify payroll with our efficient processing, reporting, and tax compliance solutions. We ensure accurate, on-time payroll — every pay period.

4. QuickBooks Setup & Support

Our experts can help you set up or optimize your QuickBooks system, ensuring your bookkeeping is efficient and error-free.

5. Business Consulting & Financial Forecasting

Planning a business expansion? Want to improve cash flow? Our consultants use advanced financial modeling to help you make confident, data-driven decisions.

6. Estate, Trust & Succession Planning

Prepare for the future by protecting your assets and ensuring a smooth transition for your family or business.

Tax Planning Strategies for 2025

Our team recommends implementing these smart tax strategies now — before year-end — to maximize your savings.

1. Review Your Withholding and Estimated Taxes

Ensure you’re not underpaying or overpaying. Our CPAs can run projections and help you adjust quarterly payments.

2. Maximize Retirement Contributions

Contributing to an IRA or 401(k) can reduce taxable income and build long-term wealth.

3. Take Advantage of Business Deductions

If you’re self-employed or own a business, you may qualify for deductions like home office expenses, equipment, and qualified business income (QBI).

4. Consider Timing Income & Expenses

Depending on your tax bracket, it may be beneficial to defer income or accelerate expenses before December 31.
5. Plan for Capital Gains

Selling property, stocks, or a business? Let’s strategize how to offset capital gains with losses or time your sales wisely.

Why Choose Peavy & Associates

At Peavy & Associates, we’re proud to serve Conway and surrounding communities with professionalism, accuracy, and integrity. Here’s what sets us apart:

• Locally Rooted: As a Conway-based CPA firm, we understand South Carolina tax law and regional business dynamics.
• Experienced Team: Our accountants and CPAs have decades of combined experience across personal and business finance.
• Year-Round Support: We’re not just here during tax season — we’re your ongoing partners in financial growth.
• Customized Solutions: Every client gets a tailored plan, never a one-size-fits-all approach.
• Trusted Reputation: We’ve built lasting relationships based on transparency, reliability, and results.

FAQs About Tax Planning & Accounting

1. When should I start planning for the 2025 tax year?

Now! The earlier you begin, the more opportunities you’ll have to reduce your taxable income and avoid last-minute stress.

2. What documents should I bring to my tax consultation?

Bring your income statements (W-2s, 1099s), expense records, prior tax returns, and any relevant investment or property documentation.

3. Do you work with remote or out-of-state clients?

Yes — while we’re based in Conway, SC, we serve clients across the Southeast and nationwide through secure digital tools.

4. How often should I meet with my accountant?

We recommend quarterly check-ins to stay on track with tax projections, business goals, and financial updates.

5. Can Peavy & Associates help me with IRS issues?

Absolutely. We provide IRS correspondence support, audit assistance, and representation to help resolve tax matters quickly and effectively.

Plan Smarter, Stress Less — Partner With Peavy & Associates

Whether you’re preparing for next year’s taxes or managing your business finances, Peavy & Associates is your trusted accounting partner in Conway, South Carolina.

Our mission is simple: to provide expert guidance, honest communication, and real financial results.

📍 Visit Us: 1516 E Highway 501, Unit 104, Conway, SC

📞 Call: (843) 347-0849

🌐 Website: www.peavyandassociates.com

📅 Book a Free Consultation: Schedule Online Here

Take control of your financial future today. Contact Peavy & Associates, PC — where professionalism meets personal attention.

At Peavy & Associates, PC, we deliver more than numbers — we deliver peace of mind. Based in Conway, South Carolina, our full-service CPA firm blends deep local understanding with technical excellence to serve individuals, small businesses, and growing enterprises. Whether you need tax planning, bookkeeping, audit support, or consulting, we tailor our solutions to your goals.

With a foundation built on trust, integrity, and ongoing professional development, Peavy & Associates helps clients maintain financial viability today while planning strategically for tomorrow. Peavy and Associates, PC+2Peavy and Associates, PC+2

Our Core Services

Tax Planning & Preparation

We offer proactive tax planning and preparation services for individuals, businesses, and estates — minimizing liability while maximizing compliance. Peavy and Associates, PC+1

Bookkeeping & Financial Statement Preparation

From daily bookkeeping to monthly and quarterly financial statements, we help you maintain clarity in your finances. Peavy and Associates, PC+1

Payroll & Cash Flow Management

Outsource your payroll, manage with accuracy, and ensure compliance. We also support budgeting, forecasting, and cash flow optimization. Peavy and Associates, PC

Accounting System Setup & Support

If you’re starting fresh or updating existing systems, we provide setup, training, and support for accounting software and workflows. Peavy and Associates, PC

Estate, Trust & Succession Planning

Prepare for the future with structured estate planning, trust formation, and business succession strategies. Peavy and Associates, PC+1

Audit, Attestation & Consulting

We assist with attestations, financial reviews, and strategic advisory consulting — offering insight and verification when you need it. Peavy and Associates, PC+1

Why Choose Peavy & Associates in Conway, SC

Local Expertise, Trusted Reputation

Located at 1516 E Highway 501, Unit 104, Conway, SC, we are deeply rooted in the local community and understand the nuances of state and regional tax law. Peavy and Associates, PC+2MapQuest+2

Personalized, Client-Centered Focus

We don’t believe in one-size‐fits‐all. Every engagement begins with a consultation to understand your unique challenges, goals, and preferences. Peavy and Associates, PC+1

Up-to-Date Professional Standards

Our team stays current with evolving tax codes, accounting standards, and regulatory changes to provide you accurate, compliant advice.

Integrated Solutions

We combine bookkeeping, tax planning, payroll, consulting, and system support — delivering a seamless financial engine rather than fragmented services.

Transparent & Accessible

From free initial consultations to clear pricing and open communication, we believe in building trust from day one.

What to Expect When Working With Us

1. Initial Consultation
   We review your financial status, history, and goals, then recommend the best services or package suited to you.
2. Data Gathering & Onboarding
   We collect records, reports, and relevant documents. If needed, we assist with software setup or data import.
3. Service Execution & Review
   Whether it’s book closing, tax returns, payroll processing, or advisory work, we perform with diligence and periodic check-ins.
4. Communication & Transparency
   You’ll receive clear explanations, customized reports, and strategic insights — always keeping you in the loop.
5. Ongoing Support & Planning
   We stay by your side year-round — helping you adjust to changes, plan for growth, and optimize your financial operations.

FAQ: Answers to Common Client Questions

What areas do you serve?

Primarily Conway, Surfside Beach, and surrounding Horry County and northeastern South Carolina markets. Peavy and Associates, PC+1

When should I engage a CPA?

Early — getting guidance before decisions like business formation, tax elections, or major purchases ensures better outcomes.

How often should I have my books updated?

Monthly is ideal for transparency and timely decision-making. But some small clients opt for quarterly or annual updates.

Can you assist with IRS audits or notices?

Yes — we provide audit support, correspondence handling, and representation within allowable scope.

What is your pricing structure?

We offer transparent, service-based pricing. After an initial consultation, we provide an estimate tailored to the scope of work.

Call to Action: Let’s Build Your Financial Foundation Together

At Peavy & Associates, PC, we’re more than accountants — we’re your trusted financial partners in Conway, SC. Whether you’re an individual with complex tax needs or a business scaling to the next level, we’re ready to guide you.

Ready to get started?

📞 Call us at (843) 347-0849

📧 Email us at peavy@peavyandassociates.com Peavy and Associates, PC

📅 Schedule your free consultation online

Partner with a CPA firm that prioritizes integrity, clarity, and your long-term success. Let’s get your finances working smarter — starting today.

Planning for the future is one of the most important steps you can take to protect your family and your assets. Yet many families in Conway, South Carolina put off estate and trust planning, leaving loved ones vulnerable to unnecessary stress and tax complications. At Peavy & Associates, PC, we help local families create comprehensive estate plans that provide security and peace of mind.

Why Estate & Trust Planning Matters

An estate plan ensures your assets are distributed according to your wishes, minimizes tax liability, and helps avoid legal complications. Trusts, wills, and other tools can protect your family, provide for children or dependents, and ensure a smooth transfer of wealth.

Key Components of a Strong Estate Plan

1. Wills

A will is the foundation of any estate plan. It outlines how your property should be distributed and names guardians for minor children.

2. Trusts

Trusts offer flexibility and control over how assets are managed and distributed. They can help reduce estate taxes and avoid probate, saving time and legal costs for your heirs.

3. Power of Attorney & Healthcare Directives

Planning isn’t just about finances. Designating a power of attorney and healthcare directives ensures your wishes are honored if you become unable to make decisions for yourself.

4. Tax Planning Strategies

Proper estate planning can reduce federal and state taxes, preserving more of your assets for your loved ones. Our team helps identify opportunities for tax-efficient wealth transfer.

Why Work with a Local Conway CPA?

Navigating South Carolina’s estate and trust laws can be complex. A local CPA firm like Peavy & Associates, PC combines financial expertise with an understanding of local regulations, ensuring your estate plan is tailored to your family’s unique situation.

Secure Your Family’s Future with Peavy & Associates

Don’t leave your family’s future to chance. At Peavy & Associates, PC, we provide personalized estate and trust planning services for Conway families, helping you protect your assets and provide peace of mind.

📞 Call us today to schedule a consultation and start building an estate plan that works for you and your loved ones.

Running payroll may seem simple on the surface, but even small mistakes can lead to compliance issues, unhappy employees, and costly fines. For business owners in Conway, South Carolina, staying on top of payroll requirements is essential. At Peavy & Associates, PC, we’ve helped many local employers navigate these challenges with ease.

Here are the top payroll pitfalls we see—and how to avoid them.

1. Misclassifying Employees and Contractors

One of the most common payroll mistakes is treating workers as independent contractors when they should be employees. Misclassification can result in penalties for unpaid payroll taxes. Working with a knowledgeable CPA ensures your team is properly classified under IRS and South Carolina law.

2. Missing Tax Deadlines

Employers must withhold, report, and remit federal and state payroll taxes on time. Missing these deadlines can trigger penalties and interest charges. A reliable payroll system or outsourced service keeps everything on schedule.

3. Incorrect Overtime Calculations

Overtime rules can be tricky, especially for businesses with part-time or seasonal staff. Miscalculating overtime pay not only frustrates employees but may also lead to compliance issues under labor laws.

4. Poor Recordkeeping

Accurate payroll records are required by both the IRS and the South Carolina Department of Revenue. Incomplete or disorganized records can create headaches during audits. Keeping detailed documentation of hours worked, pay rates, and tax filings is essential.

5. Lack of Confidentiality and Security

Payroll data contains sensitive employee information. Failing to protect this data can lead to identity theft, loss of trust, and even legal consequences. Secure payroll systems and professional oversight help prevent breaches.

Avoid Payroll Stress with Peavy & Associates

Payroll doesn’t have to be a burden. At Peavy & Associates, PC in Conway, we provide comprehensive payroll services that ensure accuracy, compliance, and peace of mind for local employers. From small businesses to larger organizations, we customize solutions to fit your needs.

📞 Call us today to learn how our Conway payroll services can save you time, reduce risk, and keep your employees happy.

Starting a new business is exciting—but it also comes with challenges, especially when it comes to bookkeeping and accounting. Without the right systems in place, it’s easy for new business owners to lose track of cash flow, miss tax deadlines, or overlook deductions that could save money.
At Peavy & Associates, PC in Conway, South Carolina, we specialize in helping startups establish strong financial foundations. Here’s how our team supports local entrepreneurs from day one.

Why Startups Need a Solid Accounting System

A clear and organized accounting system does more than just track income and expenses. It helps:

• Monitor cash flow so you know where your money is going.
• Stay compliant with tax laws and avoid costly penalties.
• Create accurate financial reports for investors, lenders, or partners.
• Build a framework for long-term growth and scalability.

Services We Provide for Startups in Conway

At Peavy & Associates, we understand that every new business is unique. That’s why we tailor our accounting setup services to fit your goals. Our support includes:

1. Bookkeeping System Setup

We help you choose the right accounting software (like QuickBooks or other platforms) and configure it to suit your business.
2. Payroll Setup & Compliance

From classifying employees correctly to setting up direct deposit, our team ensures payroll runs smoothly and meets state and federal requirements.

3. Business Entity Guidance

LLC, S-Corp, or partnership? We provide advice on entity selection and tax implications to help you make the right choice.

4. Ongoing Support & Training

We don’t just set up your system—we train you and your staff on how to use it effectively while remaining available for ongoing support.

The Local Advantage

As a Conway-based accounting firm, we’re familiar with South Carolina tax laws, business regulations, and local market conditions. That means startups can count on us for both technical expertise and practical guidance tailored to our community.

Build Your Business on a Strong Foundation with Peavy & Associates

Starting a new business in Conway? Don’t let financial stress slow you down. At Peavy & Associates, PC, we provide the accounting tools and support you need to grow with confidence.

📞 Call us today to schedule a consultation and let us help you set up an accounting system that works for your business from the very beginning.

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!

Running a successful business in Boca Raton—or anywhere—requires more than revenue and sales. Many business owners underestimate the hidden costs that can quietly eat into profits if not carefully managed. From payroll taxes to software subscriptions, these overlooked expenses can make the difference between a thriving business and one struggling to stay afloat.

At Peavy and Associates, we help businesses uncover hidden costs and implement strategies to control them, ensuring long-term financial health. Here’s a closer look at common hidden costs and how to plan for them.

1. Payroll Taxes and Employee Benefits

Salaries are just the beginning. Payroll taxes, health insurance, retirement contributions, and other employee benefits can add up quickly. Failing to account for these costs in advance can create cash flow problems, especially for small businesses.
Pro Tip: Work with an accountant to accurately project these expenses and avoid surprises.

2. Software and Technology Subscriptions

Businesses rely on tools for accounting, marketing, communications, and operations—but recurring subscription fees can multiply unnoticed. Regularly review all software subscriptions and evaluate whether each service still delivers value.

3. Regulatory and Compliance Costs

Licensing fees, permits, industry-specific compliance, and insurance requirements are often overlooked until renewal deadlines approach. Planning for these obligations throughout the year prevents last-minute financial strain and ensures your business remains compliant.

4. Maintenance and Operational Costs

From office equipment repairs to utility bills, day-to-day operational expenses can quietly add up. Including a contingency budget for unexpected costs ensures you’re prepared for equipment failures, facility repairs, or seasonal spikes in utility use.

5. Marketing and Business Development

Many business owners underestimate the ongoing costs of marketing campaigns, social media management, and professional networking. These expenses are essential for growth but should be planned and monitored to maximize ROI.

6. Plan Ahead to Protect Profits

Identifying hidden costs is the first step toward financial clarity. Once you know where your money is going, you can implement strategies like budgeting, cost reduction, and smarter cash flow management. This proactive approach protects profits and positions your business for sustainable growth.

Partner with Peavy and Associates for Expert Business Guidance

Running a business is complex, but you don’t have to navigate it alone. At Peavy and Associates, our experienced accountants help businesses uncover hidden costs, optimize budgets, and plan for long-term success. With the right financial strategy, you can focus on growth, confident that your numbers are in order.

✨ Contact Peavy and Associates today to schedule a consultation and start uncovering hidden costs before they impact your business! ✨

It may feel like tax season is months away, but the truth is, the earlier you prepare, the smoother the process will be. By August, businesses and individuals have enough year-to-date data to make smart tax planning decisions that can minimize stress—and maximize savings—when filing season arrives.

At Peavy and Associates, a full-service accounting firm, we help clients stay proactive with their tax strategies so they can avoid last-minute surprises. Here are the top steps you can take now to ensure a stress-free filing season ahead.

1. Review Year-to-Date Income and Expenses

Now is the time to take a close look at your financial performance so far this year. For businesses, this means reviewing profit and loss statements, cash flow, and expense categories. For individuals, this might include employment income, side gigs, or investment gains. Understanding where you stand helps your accountant project your tax liability and create a plan.

2. Adjust Estimated Tax Payments

If you’re self-employed or a business owner, you may be making quarterly estimated tax payments. A mid-year review allows you to adjust those payments based on actual performance, helping you avoid both underpayment penalties and overpaying the IRS.

3. Maximize Retirement Contributions

Contributing to retirement accounts such as a 401(k), IRA, or SEP IRA not only builds long-term savings but also reduces your taxable income for the year. Planning these contributions now spreads out the cash flow impact and ensures you don’t miss out on valuable deductions.

4. Track Deductions and Credits Early

Waiting until tax season to gather receipts and documentation can be overwhelming. Start now by organizing records for common deductions such as business expenses, charitable donations, childcare, and medical costs. Staying organized throughout the year makes filing faster and easier.

5. Consider Accelerated Expenses or Purchases

For business owners, strategically timing large purchases or expenses before year-end can reduce taxable income. Whether it’s investing in equipment, software, or employee training, talk with your accountant to see if accelerating expenses makes sense for your tax strategy.

6. Plan for Major Life Changes

Have you recently gotten married, had a child, bought a home, or started a new business? These changes can significantly impact your tax situation. Reviewing them now with a trusted advisor ensures you take advantage of all available credits and deductions.

7. Schedule a Tax Planning Consultation

The best way to avoid last-minute tax stress is to partner with a professional. At Peavy and Associates, we provide tailored tax planning services that help both individuals and businesses minimize liability and maximize peace of mind.

Prepare Early with Peavy and Associates

Tax season doesn’t have to be stressful—if you prepare in advance. At Peavy and Associates, our experienced accountants guide clients through smart, proactive tax strategies designed to save time and money. By starting now, you’ll avoid the year-end rush and enter tax season with confidence.

✨ Contact Peavy and Associates today to schedule your tax planning consultation and get ahead of the filing season! ✨