7 Smart Tax Moves to Make This Summer
Summer is all about sunshine, vacations, and rest… but if you're serious about building wealth and financial freedom, it's also the perfect time to get ahead on your tax planning.
At Consult With Erika, we believe that financial peace doesn’t happen by accident—it’s the result of intentional decisions made in every season, not just during tax time.
So let’s break down 7 smart tax moves to make during the summer while things are (hopefully) slower—and set yourself up for a smoother, more profitable year.
1. Review Your Tax Withholding or Estimated Payments
If your income has changed this year—maybe you’ve started a business, landed a side hustle, or experienced a raise—it’s time to revisit your withholding or estimated payments.
Smart tax planning for entrepreneurs means making sure you’re not underpaying (and risking penalties) or overpaying (and losing cash flow).
2. Organize Your Income and Expense Records
Summer is the perfect time to get your financial documents in order. Review:
Receipts
Invoices
Mileage logs
Home office expenses
Bank and credit statements
With solid documentation, you're ready to take full advantage of tax-deductible expenses and avoid scrambling during filing season.
3. Track Your Business Miles
Gas is expensive, so don’t leave business mileage deductions on the table. Use apps or spreadsheets to keep a running log. If you use your car for business purposes (meetings, deliveries, networking events), those miles could mean major savings.
This is one of the most overlooked opportunities we address in our business financial consulting services.
4. Reevaluate Your Business Structure
Sole proprietor? LLC? S-Corp? The structure that served you last year may not be the best fit for your growth this year.
Mid-year is a great time to have a tax planning strategy session and ensure your business is set up to maximize deductions and minimize taxes.
5. Start Prepping for Year-End Deductions
Summer is halfway through the year—so it’s time to plan ahead. Consider:
Charitable donations
Retirement contributions
Equipment or software purchases
Training and education expenses
Planning these moves now ensures you make them before December 31, when they count toward this tax year.
6. Check in on Your Credit Health
Tax time and credit health go hand-in-hand. If your financial goals include funding, homeownership, or business growth, your credit needs to be in shape.
Use the slower summer months to explore credit repair and audit services, dispute errors, and begin building a stronger credit profile.
7. Book Your Mid-Year Strategy Call
Don’t wait until tax season to ask questions. Take advantage of this quieter time to book your check-in, ask tax-related questions, and adjust your strategy based on what’s changed this year.
You’ll avoid stress, uncover savings, and get clarity—all while staying two steps ahead.
📞 Book your free 15-minute strategy call today:
👉 https://calendly.com/consultwitherika/15-min-strategy-call
Final Thoughts: A Little Summer Planning = Major Year-End Peace
Summer doesn’t have to be a financial pause. In fact, it’s the perfect season to reflect, adjust, and get your finances in alignment.
At Consult With Erika, we’re here to help you build year-round strategies that protect your peace, grow your business, and support your financial goals—one intentional move at a time.
