Summary of What This Blog Covers

• Prepay expenses and defer income to manage taxable income
  
  
• Elect S Corp status to reduce self-employment tax
  
  
• Max out retirement contributions for big savings
  
  
• Use bonus depreciation and meet your CPA before year-end

Let’s start with this question:

Are you “tax planning” or just “hoping for the best”?

Because if your plan is to wait until April, open your QuickBooks file for the first time in months, and whisper, “Please don’t be bad,” then we need to talk. Seriously.

And no, this isn’t another “did you track your mileage?” list. This is real-world, cash-saving, timing-is-everything strategy for entrepreneurs who are running actual businesses. Ones with clients, cash flow, and complexity. Maybe that’s you.

You’re not a beginner anymore. You’ve figured out how to generate revenue. Now it’s time to keep more of it.

So if you’re wondering what smart founders are doing right now, before the year ends, to make tax season less painful and more profitable this is it.

Here are the 7 tax moves you can still make before the ball drops, each one with a clear move, a real-life insight, and the kind of “why didn’t I know this earlier?” moment that saves you money and makes you smarter.

Let’s dive in.

1. Accelerate Expenses (And No, That Doesn’t Mean a Shopping Spree)

Here’s the move: If you’re a cash-basis taxpayer (and most entrepreneurs are), you can deduct business expenses when you pay them, not when they’re incurred or used.

So if you know you’re going to:

• Renew your annual software
  
  
• Buy a new laptop
  
  
• Invest in a marketing consultant
  
  
• Prepay for office rent or insurance
  
  

Do it before December 31, and you can reduce your taxable income for this year.

Real talk: You’re not “gaming” the system. You’re simply using the system the way it was designed for proactive business owners. The IRS allows this. Most people just don’t know it’s allowed.

But here’s the catch: Don’t spend money just to get a deduction. That’s like eating a second dinner just because dessert is 50% off. Spend strategically. Only accelerate what you already planned to purchase.

Mini scenario: One client prepaid for $9,000 of software in December that she would’ve paid for monthly starting in January. That $9K shaved off nearly $2,000 from her tax bill. Same software. Better timing.

2. Defer Income (If It Makes Sense for Your Cash Flow)

Here’s the move: If December is turning into your biggest revenue month, and you’re bumping up against a higher tax bracket, consider deferring income into next year.

How?

• Send the invoice in January instead of December.
  
  
• Collect payment after the new year.
  
  
• Delay launching that new offer until Q1.
  
  

Why it matters: You only pay tax on income received in this year. If the cash hasn’t hit your account by December 31, it’s not taxed yet.

But be careful: Only defer if your cash flow can handle it. Deferring income and then scrambling to make payroll in January? That’s a hard no. Make sure your business can float the delay without hurting operations.

Mini story: A consultant we work with delayed a $25,000 invoice by just four days from December 28 to January 2. That one shift saved her $5,700 in taxes. No brainer.

3. Elect S Corp Status (If You’re Making Six Figures and Still an LLC)

Here’s the move: If your business is structured as an LLC and you’re earning over $80,000 in net profit, it’s time to seriously consider electing S Corp status.

Why?

Because LLC income is hit with self-employment tax, 15.3% on everything.

But with an S Corp, you:

• Pay yourself a “reasonable salary” (subject to payroll taxes)
  
  
• Take the rest of your profit as distributions (not subject to SE tax)
  
  

Translation: S Corp owners don’t get taxed like everyone else and it’s totally legal.

Here’s the “aha” moment: One of our clients, a digital consultant making $120K in profit, switched to S Corp. Paid herself a $60K salary. Took the rest as distributions. Saved $9,000 in one year. Without changing her business model. Just her tax structure.

Pitfall: This isn’t something to DIY in a Google Doc. You’ll need payroll set up. You’ll need a proper salary analysis. You’ll need a certified public accountant who understands S Corps.

4. Max Out Retirement Contributions (And Actually Think Like a CEO)

Here’s the move: You can reduce your taxable income and build wealth for future-you by making contributions to:

• Solo 401(k) – Up to $69,000 total in 2025
  
  
• SEP IRA – 25% of your net business income, up to the same cap
  
  
• Traditional IRA – $7,000 if under 50
  
  

Why this works: Retirement contributions are tax-deductible. Meaning you get to keep more of your profit, just tucked away for your future self to thank you later.

But there’s nuance: Some plans (like Solo 401(k) employee contributions) must be made by December 31. Others (like SEP IRA contributions) can be made until you file. So talk to your Austin tax advisor now to know what deadlines apply.

Mini insight: One founder we worked with contributed $30,000 to her Solo 401(k). That dropped her tax bill by more than $7,500 and helped her feel like the grown-up CEO she already was.

5. Take Advantage of Bonus Depreciation (While You Still Can)

Here’s the move: Buy qualifying equipment and deduct a large portion (or all) of it in the year it was purchased and placed into service.

Think:

• Tech upgrades
  
  
• Studio gear
  
  
• Business-use vehicles
  
  
• Office furniture
  
  

The law: Bonus depreciation in 2025 lets you deduct 40% of the purchase price immediately. In 2026, it drops further to 20%. So if you’re planning to invest in equipment, tech, or qualified assets, this is your narrowing window to take advantage of a significant deduction before it phases out.

Real talk: If you’re already planning to make that big purchase in January, pulling the trigger in December could score you a huge deduction this year.

Pitfall: The equipment must be in service before year-end. Ordering it isn’t enough. That laptop sitting in a box? Doesn’t count.

Client insight: An Austin-based content creator bought $9K in podcast gear, depreciated 80%, and saved nearly $2,000 in taxes. She used it to launch two new streams of income. That’s strategic.

6. Clean Up Your Fixed Asset Schedule (And Ditch the Zombie Equipment)

Here’s the move: Your fixed asset schedule is a list of everything your business owns and depreciates which includes hardware, gear, furniture, etc.

If you haven’t looked at it in a while, it might still include:

• Broken tech you tossed two years ago
  
  
• Office furniture you donated
  
  
• Vehicles you sold
  
  
• Equipment that no longer exists
  
  

That means you’re still depreciating assets you don’t actually own which is a problem.

Why this matters:

• It makes your books inaccurate
  
  
• It inflates your expenses
  
  
• It creates audit risk
  
  

Aha moment: Cleaning this up now gives you cleaner books and removes unnecessary baggage before you file. And it shows the IRS you’ve got your act together.

7. Schedule a Year-End Meeting with Your CPA (Yes, Before January)

Here’s the move: Meet with your CPA near you in December not April.

Why? Because year-end meetings are where the real strategy happens. Your CPA can help you:

• Project your tax liability
  
  
• Adjust estimated payments
  
  
• Review your deductions
  
  
• Decide whether to accelerate or defer income
  
  
• Set up or fund retirement plans
  
  
• Flag multi-state or foreign account issues like FBAR filing
  
  

Real talk: Tax prep season is too late to change anything. Year-end is where the savings happen. Filing is just the scoreboard.

Client example: A client came to us in December. We ran projections, adjusted her Q4 strategy, and uncovered $11,000 in savings before she even filed.

Let’s Build Your Year-End Playbook (And Keep More of What You Earn)

You don’t need another tax season full of stress, spreadsheets, and “surprise” payments.

You need a game plan. You need clarity. You need to stop handing the IRS more money than necessary just because you didn’t act in time.

At Insogna, we help entrepreneurs create strategy-first tax plans that reduce stress and maximize profit. We’re not just form-fillers. We’re your outsourced tax strategy team and we know what works when the clock is ticking.

Don’t wait until Q1. Llet’s audit your year-end moves together.
 Book your consultation today and start the new year with less panic and more power.

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Summary of What This Blog Covers

• Estimate profit to plan your tax strategy.
  
  
• Accelerate deductions and prepay expenses.
  
  
• Max out retirement contributions to reduce taxable income.
  
  
• Consider switching to an S Corp for big tax savings.
  
  

Let’s kick things off with a reality check:

If you wait until April to think about your taxes, you’re already too late.

That’s like trying to lose weight by stepping on the scale. The damage is done, friend. You can’t make adjustments to last year in this one (at least, not the kind that save you real money).

And yet, this is the move most young entrepreneurs make:
 Launch a business. Crush a few goals. Pull in more revenue than last year.
 Then wait. Shrug. File in April. Pay a scary number and wonder if it could’ve been less.

Here’s the good news: there’s still time.

Year-end is when the best tax moves happen before the numbers are locked in and filed with a bow on top for the IRS. It’s when proactive business owners build leverage, save strategically, and use the tax code to their advantage instead of letting it just happen to them.

So if you’re a young entrepreneur wondering, “What can I actually do now to lower my tax bill?”, this one’s for you.

Let’s break down the top 7 tax planning moves you can still make before the year ends: each one designed to sharpen your strategy, reduce your bill, and leave you feeling a lot more powerful come April.

1. Project Your Profit: Stop Flying Blind

Let me guess: You know how much you’ve made this year… kind of.

You’ve got a Stripe dashboard, maybe a QuickBooks account, and receipts floating around in your inbox labeled “Save This for Taxes.”

But if I asked you your projected net income, would you answer with a number or a sound that resembles a shrug?

Here’s the thing: you can’t plan tax moves unless you know what you’re planning for. You need a baseline to make smart calls.

Grab your income. Subtract your expenses. Estimate how the rest of the year will go. This doesn’t need to be a perfect forecast, it just needs to be close enough to guide your strategy.

Once you know your number, you can start asking real questions:

• Am I creeping into a higher tax bracket?
  
  
• Should I defer income to next year?
  
  
• Do I need to accelerate deductions now?
  
  

If your business had a breakthrough year, you owe it to yourself to protect that momentum not lose it to poor planning.

Mind-shocker moment: You can’t fix your tax bill if you don’t understand what’s creating it. Guesswork is expensive. Strategy is profitable.

2. Bunch or Accelerate Deductions: Timing Isn’t Just for Comedy

Here’s a move most people overlook: controlling the clock.

Your expenses don’t need to be perfectly balanced across years. In fact, you can tip the scales in your favor.

Let’s say you’re having a high-income year. Instead of waiting until January to make business purchases or donations, do it now in this tax year.

That might mean:

• Paying for a year’s worth of software upfront
  
  
• Stocking up on marketing materials or client gifts
  
  
• Making charitable contributions you were planning anyway
  
  
• Renewing memberships or certifications
  
  

This technique is called bunching, and it works because it brings deductions into a higher-tax year where they matter more.

Why? Because $1,000 of deductions when you’re in the 32% tax bracket saves you $320. That same $1,000 when you’re in the 12% bracket? Only $120.

Same action. Very different outcome.

Aha moment: It’s not just what you deduct, it’s when you deduct it. Timing can multiply the value.

3. Max Out Retirement Contributions: Pay Future You, Not the IRS

One of the most overlooked (and underrated) tax planning tools? Retirement.

I know. Retirement sounds like a later problem. You’re still trying to hit your next revenue goal, build your brand, and maybe take a real weekend off.

But if you’re self-employed and not taking advantage of retirement contributions, you’re doing two things:

• Overpaying taxes now
  
  
• Making future-you work harder later
  
  

Here’s what you can use:

• Solo 401(k): Contribute as both employee and employer. Total limit: $69,000 in 2025.
  
  
• SEP IRA: 25% of your compensation, also up to $69,000.
  
  
• Traditional IRA: Up to $7,000 ($8,000 if you’re 50+), depending on income.
  
  

All of these options reduce your taxable income. That means fewer dollars taxed now, and more building toward your long-term freedom.

Think of it this way: Would you rather send that $10K to the IRS… or keep it in your name, growing year after year?

Quick story: A solo marketing consultant came to us last year. She made $150K and hadn’t contributed to anything. We helped her drop $30K into a Solo 401(k) and shaved over $7K off her tax bill. And she still had time to max out a Roth IRA.

4. Prepay Business Expenses: Get Credit Now, Use Later

Need a new laptop? Buying software licenses? Planning a training or coaching program in Q1?

If you’re a cash-basis taxpayer (which most small businesses are), paying for those expenses before December 31 can get you the deduction this year.

This is one of the fastest ways to bring your taxable income down legally and strategically, just make sure you’re buying what you actually need.

Not-so-pro tip: Don’t buy a $5,000 camera “for the write-off” if it’s going to sit in the box until April. That’s not strategy, that’s retail therapy disguised as business.

Aha moment: Smart tax planning is not about spending more. It’s about spending smarter.

5. Review Your Entity Setup: Is It Time to Switch to an S Corp?

Okay, real talk.

If you’re still a default LLC and making over $80,000 in net profit, you may be burning money without knowing it.

The fix? Elect to be taxed as an S Corp.

Here’s why it works:

• You pay yourself a reasonable salary, which is subject to payroll tax
  
  
• You take the rest of your profit as distributions, which are not
  
  
• You avoid paying self-employment tax (15.3%) on your entire income
  
  

This move alone can save business owners $8K to $15K a year or more.

But don’t wing it. Electing S Corp status comes with extra rules, payroll requirements, and filings.

This is where your Austin tax accountant or certified public accountant near you helps you run the numbers and set it up correctly, with no guesswork.

Client example: A fitness coach we worked with was earning $120K. As an LLC, she was paying self-employment tax on all of it. After we switched her to an S Corp, gave her a $60K salary, and took $60K as distributions, she saved $9,300 her first year.

6. Harvest Tax Losses: Make the IRS Share Your Pain

Did some of your investments lose value this year? Good news, you can still win with them.

It’s called tax-loss harvesting. You sell those underperformers before year-end and use the losses to offset:

• Capital gains from other investments
  
  
• Up to $3,000 of ordinary income
  
  
• Future gains via carryforward
  
  

That’s like taking lemons and turning them into a tax-saving smoothie.

Just watch out for the wash sale rule: You can’t repurchase the same or “substantially identical” security within 30 days or the loss gets disqualified.

Mini tip: Crypto currently isn’t subject to the wash sale rule (yet), which makes it one of the only places the IRS gives you a break.

7. Make Strategic Charitable Contributions: Do Good, Save Smart

Thinking of giving to a nonprofit? Excellent. Now let’s make sure the tax strategy matches the generosity.

Here’s how to do it right:

• Make sure your donation is to a qualified 501(c)(3)
  
  
• Get the donation in by December 31
  
  
• Itemize only if your total deductions exceed the standard deduction
  
  
• Consider donor-advised funds for larger gifts you want to distribute over time
  
  

Big income year? Bunch two years’ worth of giving into one. That can tip the scales and let you itemize again.

And yes, charitable giving is deductible but only if you do it the right way.

Bonus: Foreign Accounts? Crypto? Watch for FBAR

If you’ve had more than $10,000 in foreign accounts even if it was split across platforms like Wise, Payoneer, or even overseas digital wallets, you might be required to file an FBAR (Foreign Bank Account Report).

The penalty for not filing? Up to $10,000 per violation.

This isn’t something TurboTax will always catch. A taxation accountant or enrolled agent knows how to handle it properly and keep you in the clear.

Wrap-Up: These Moves Aren’t Just About Saving Taxes, They’re About Building Smarter

You didn’t start a business to overpay the IRS. You started it to grow, to create, to build something that fuels your future.

So make sure your tax strategy reflects that same energy.

Because every one of these seven moves doesn’t just save you money now. They lay the groundwork for smarter decision-making, stronger finances, and more control in the months (and years) ahead.

Need a Strategic Year-End Tax Checkup? Let’s Talk.

At Insogna, we don’t just file your taxes. We help you plan, project, and protect your profit.

We’re here to walk you through every move from your entity structure to your deductions to whether that crypto loss can actually work in your favor.

Let us run your year-end tax review so you leave nothing on the table.
 No pressure. Just clarity. And a whole lot more confidence when April rolls around.

Book your 1-on-1 strategy call now.

Frequently Asked Questions

1. What can I do before year-end to lower my business taxes?

Prepay expenses, max out a Solo 401(k), bunch deductions, or switch to an S Corp if you’re earning over $80K. The earlier you act, the more you save.

2. Is switching to an S Corp worth it?

If you’re netting $80K+, yes. It can save thousands in self-employment tax but timing matters. You need to act before the year closes.

3. What is tax-loss harvesting?

It’s selling losing investments to offset gains or reduce taxable income. If you have crypto or stocks, this can be a smart move before Dec 31.

4. I made more money this year. What should I do now?

Estimate your profit, accelerate deductions, and talk to a CPA near you about retirement, entity structure, and strategy.

5. Can I deduct charitable donations?

Yes, if it’s a qualified charity and done before Dec 31. Bunch donations or use donor-advised funds to maximize impact.

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Summary of What This Blog Covers

• Accelerate expenses and defer income to manage taxes.
  
  
• Max out retirement contributions to reduce taxable income.
  
  
• Use investment losses to offset gains or income.
  
  
• Review entity type and charitable giving for smart savings.

Here’s the deal.

If your year-end strategy is “I’ll worry about it in April,” that’s not tax planning. That’s tax damage control.

And you know what that sounds like?

“I guess I owe this much.”
 “Wait, why is my tax bill so high?”
 “How did I make six figures and still feel broke?”

Sound familiar?

That’s because most entrepreneurs are so focused on building the business (clients, sales, launches, product-market fit) that they treat taxes like that closet they’ll clean out one day. Spoiler alert: “one day” never comes until the closet explodes. Usually in March.

But here’s the great news: you’re not too late… yet. The tax calendar is still on your side, and there’s plenty you can do before December 31 to keep more of what you’ve worked hard for.

Let’s walk through the seven tax planning strategies you can still act on before year-end. Each one is a lever that gives you more control, more clarity, and a lot less dread come filing season. This isn’t boring tax theory. This is practical, no-fluff strategy for real entrepreneurs.

1. Accelerate Expenses (Now Is the Time to Swipe with Purpose)

Let’s start with an easy win: move next year’s business expenses into this year.

Sound too simple to be powerful? Hang on.

If you’re a cash-basis taxpayer (which, unless you’re running a big operation with inventory and an internal finance team, you probably are), then expenses are deducted when paid. Not when incurred.

Translation: anything you pay for in December can reduce this year’s tax bill. Even if you won’t use it until March.

What kinds of expenses should you consider accelerating?

• Software subscriptions
  
  
• Marketing services
  
  
• Online course registrations
  
  
• Equipment or tech upgrades
  
  
• Prepaid insurance or rent
  
  
• That standing desk you’ve been eyeing for three months
  
  

Think of it like this: you’re buying what you already planned to buy, but now it comes with a tax bonus.

But, and this is big, don’t fall into the trap of buying something just because “it’s a write-off.” That $2,000 camera you never use is still a waste of $2,000. The IRS isn’t your shopping partner.

Aha moment: Spending strategically before year-end turns smart planning into real savings and it makes Q1 a whole lot easier.

2. Defer Income (Delay That Payment Like a Pro)

This one feels sneaky, but it’s not. It’s strategic.

If your income this year is high and next year’s looking lighter (say, a launch isn’t happening until spring or you’re scaling back), you can reduce your tax burden by deferring some income until January.

If you:

• Invoice clients for projects completed in December
  
  
• Sell digital products or services
  
  
• Run a membership or course that renews in Q1
  
  
• Collect payments where timing is flexible
  
  

…you may be able to hold off on billing or collecting that payment until January. And if that money isn’t in your bank account before the year ends? It’s not taxable this year.

It’s totally legal. It’s just about timing.

Mini scenario: A consultant was set to invoice a client on December 30 for a $12,000 project. Instead, they waited until January 2. Result? The income got taxed next year, saving them $3,000 in taxes now.

3. Max Out Retirement Contributions (You Deserve to Pay Your Future Self)

Let’s talk about the sexy side of tax planning: retirement contributions.

Okay, maybe “sexy” is a stretch. But you know what is sexy? Saving thousands in taxes and building wealth at the same time.

If you’re self-employed, you have access to power tools most W-2 folks don’t:

• Solo 401(k): Up to $69,000 in 2025 (yes, really)
  
  
• SEP IRA: 25% of net earnings, also capped at $69,000
  
  
• Traditional IRA: Up to $7,000 if you’re under 50
  
  

Every dollar you contribute to these accounts lowers your taxable income today, while investing in your future freedom.

Here’s how this plays out:

• You make $120,000 this year
  
  
• You contribute $30,000 to a Solo 401(k)
  
  
• Now you’re only taxed on $90,000
  
  

That’s not just good math. That’s strategy.

Pro tip: You don’t have to be profitable to start saving for retirement. But if you are profitable, you can save even more.

4. Harvest Investment Losses (Turn Your Pain into a Tax Win)

Did crypto break your heart this year? Or maybe that “can’t-miss” stock turned into a slow-motion crash?

Don’t worry. It’s not just a loss, it’s a tax opportunity.

Selling underperforming assets before year-end allows you to offset:

• Capital gains from your winning trades
  
  
• Up to $3,000 in ordinary income
  
  
• Future gains, via carryforward
  
  

This is called tax-loss harvesting, and it’s one of the most underused strategies among entrepreneurs.

Even better? Crypto, as of now, isn’t subject to the wash sale rule. That means you can sell your losing coin, deduct the loss, and buy it back the next day without penalty. But heads up, this loophole may not last forever.

Real story: A solopreneur sold off $8,000 in crypto losses and wiped out the $5,000 gain he made selling company stock. Tax bill = reduced. Sleep = restored.

5. Review Your Entity Type (LLC vs. S Corp… It’s Probably Time)

If you’re still operating under a default LLC and bringing in six figures, this is the red flag you’ve been ignoring.

Because here’s the deal:
 When you’re a sole proprietor or single-member LLC, all of your profit is subject to 15.3% self-employment tax.

Let’s say you made $120K in profit. That’s over $18,000 in self-employment tax. Ouch.

Now, if you were an S Corp:

• You’d pay yourself a reasonable salary (say, $60K)
  
  
• Take the other $60K as distributions (not subject to SE tax)
  
  
• Now, your self-employment tax is based only on that $60K salary
  
  

That one shift? Could save you $7,000 to $12,000 every single year.

But it takes planning. You’ll need to:

• Run payroll (we can help)
  
  
• File corporate returns
  
  
• Track books a little tighter
  
  

Worth it? Absolutely.

Mind-shocker moment: This is one of the few times the IRS will let you pay less tax just by checking a different box.

6. Multi-State or International? You Might Be Owing More Than You Think

Selling to customers in other states? Hiring remote employees? Getting paid by international clients? Then your taxes just got… let’s say layered.

Welcome to the world of:

• Sales tax nexus
  
  
• State payroll registrations
  
  
• Franchise taxes
  
  
• FBAR filing for foreign bank accounts
  
  

Let’s be honest, this stuff is overwhelming. But it’s also critical.

Fail to file in a state where you’re doing business? You could face penalties, audits, or worse. Forget to report that foreign Payoneer account? That’s a $10,000 problem waiting to happen.

You don’t need to panic, you need a plan.

Mini story: A digital agency we worked with had unknowingly triggered sales tax obligations in five states. We helped them register, clean it up, and avoid $30K in potential penalties. No drama, just proactive cleanup.

7. Time Your Charitable Giving (Give Back, and Get Credit)

Charity is good for the world. But done strategically, it’s also good for your tax return.

Here’s how to maximize it:

• Make donations before December 31
  
  
• Only donate to qualified 501(c)(3) organizations
  
  
• Keep receipts and confirmations
  
  
• Consider bunching two years of giving into one if you’re close to the itemized deduction threshold
  
  
• Explore donor-advised funds for larger gifts with long-term flexibility
  
  

If you’re already planning to give, timing it right lets you do good and save more.

Client example: A creative agency owner donated $10,000 in December, which pushed them above the standard deduction line. That extra planning saved them $2,400. They were already giving, it was just smarter now.

Let’s Build Your Year-End Playbook

Here’s the truth: every entrepreneur wants to be strategic. But being strategic takes time, clarity, and knowing which moves matter most. That’s where we come in.

At Insogna, we don’t just do taxes. We help you turn your numbers into strategy and that strategy into momentum.

Whether it’s your first six-figure year or your fifth, whether you’re scaling or stabilizing, we’ll help you walk into tax season with clarity, confidence, and a whole lot more cash in your corner.

We’ll build your year‑end playbook. Start with a consultation today.
 Smart money moves now lead to fewer regrets later. Let’s make this your strongest financial year yet.

Frequently Asked Questions

1. What can I do before year-end to lower my tax bill?

Accelerate expenses, defer income, max out retirement contributions, harvest losses, review your entity, and time charitable giving. These moves are all in the blog and can make a big difference.

2. Should I switch to an S Corp now?

If you’re netting over $80K, yes. S Corp status can save you thousands. But timing matters. You need to plan it now to impact next year.

3. Can I use investment or crypto losses to save on taxes?

Yes, sell before year-end to offset gains or deduct up to $3K. Crypto isn’t subject to wash sale rules (yet), so act now.

4. Do charitable donations really reduce taxes?

Yes, if you donate to a 501(c)(3) and itemize. Use donor-advised funds or bunch contributions to maximize the impact.

5. What if I do business in other states or overseas?

You may owe state taxes or need to file an FBAR. Multi-state and international rules are tricky, plan ahead.

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