10/20/2026
Fall Is the Time to Start Tax Planning, Not Just Looking Back👇
As the October 15 tax filing deadline passes, business owners have an opportunity to shift their attention from tax preparation to planning for the year ahead. The decisions made in the final months of 2026 can affect both year-end results and plans for 2027.
We asked Jackson Harbolt, CPA, recently promoted to Associate Partner in Capstone's Redmond office, what business owners should be thinking about before December 31. He identified three areas worth discussing with an advisor.
1. Don't wait until tax season to start tax planning 🔸
"I think one of the biggest mistakes business owners make is waiting until tax season to talk about tax planning. By then, many opportunities have already passed."
Jackson recommends that business owners use the remaining months of the year to discuss estimated tax payments, equipment purchases, retirement contributions, compensation, distributions, and any significant transactions or upcoming changes.
Addressing these matters before year-end allows business owners to consider their options while there's still time to make decisions.
2. A good tax decision isn't always a good business decision 🔸
Before making a large purchase, hiring additional employees, or expanding, Jackson encourages business owners to look beyond the immediate tax implications.
"A decision that makes sense from a tax standpoint isn't necessarily the best business decision."
The overall financial impact on the business matters just as much as the potential tax consequences. Bringing an advisor into the conversation early can help ensure the numbers support the decision.
3. Bring your advisor in before the decision, not after 🔸
Whether it's buying equipment, purchasing another business, changing the ownership structure, hiring key employees, or taking on significant debt, Jackson believes an accounting or tax advisor should be involved before major decisions are made.
"Having that conversation beforehand can often identify issues or opportunities that may not be obvious to the owner."
Rather than reviewing the consequences after a decision has been made, an early conversation gives business owners an opportunity to consider the financial and tax implications beforehand.
Looking Ahead to 2027
Jackson's advice highlights the importance of looking beyond tax preparation and involving an advisor in the decisions that shape a business's future.
His recent promotion to Associate Partner is an opportunity to recognize his professional advancement at Capstone and the perspective he brings to conversations with business owners.
As 2026 comes to a close, now is the time to consider which financial decisions deserve a conversation before year-end.
👉Connect with Jackson or a Capstone advisor to discuss your year-end tax planning priorities.
