Practical tax planning that keeps your business moving (not stuck in spreadsheets)
If you run a growing business, tax season rarely feels like “one deadline.” It’s a year-round set of decisions: how you pay yourself, how you track expenses, when you run payroll, whether you’re paying enough estimated tax, and how you document deductions so they hold up later. Kiplinger tax topics often focus on the same pain points business owners face every week—estimated tax timing, mileage and expense rules, and the ripple effects of changing tax thresholds.
Below is a 2026-ready checklist written for small business owners in Myrtle Beach, South Carolina who want fewer surprises, cleaner financials, and a tax plan that supports growth.
What’s “new” (and what’s easy to miss) when planning for 2026
Tax planning gets easier when you separate timing issues (deadlines and deposits), documentation issues (what you can prove), and strategy issues (entity structure, compensation, and long-term planning).
Two updates that tend to show up in both “Kiplinger tax topics” style coverage and real-world CPA conversations:
- 2026 federal inflation adjustments: the IRS released updated 2026 tax brackets and standard deduction amounts (these apply to 2026 returns filed in 2027). (irs.gov)
- 2026 mileage rate changes: the IRS announced a higher standard mileage rate for business driving starting January 1, 2026. (apnews.com)
Main breakdown: the “Big 5” tax topics that hit small businesses
- Estimated taxes (federal + state): avoiding underpayment penalties and cash crunches.
- Payroll compliance: correct withholding, timely deposits, clean quarterly filings.
- Bookkeeping accuracy: categorization, reconciliations, and “audit-ready” support.
- Deductions + substantiation: mileage, travel, meals, home office, contractor payments.
- Entity + compensation planning: aligning tax strategy with growth (and your personal goals).
A quick perspective shift that saves time
A lot of tax stress isn’t caused by “taxes.” It’s caused by unclear numbers:
- Revenue recorded late (or not at all)
- Owner draws mixed with business expenses
- Payroll run inconsistently
- Receipts and mileage tracked after the fact
When bookkeeping and payroll are consistent, your tax plan becomes a set of predictable moves instead of emergency cleanup.
Explore ongoing financial clarity support here: Bookkeeping Services.
Estimated taxes: stop guessing, start forecasting
Estimated taxes are one of the most common “Kiplinger tax topics” because they trip up owners who don’t have withholding covering their full tax liability. Kiplinger’s guidance highlights the quarterly cadence and the fact that the U.S. system is pay-as-you-go. (kiplinger.com)
What to do: set a simple quarterly routine that ties your tax payments to real performance (not a best guess from last year).
| Quarter | What to review | What to do next |
|---|---|---|
| Q1 | YTD profit, owner pay, big new clients/expenses | Run a projection + decide estimated payment |
| Q2 | Cash flow trends, payroll changes, contractor spend | Adjust payments before summer cash swings |
| Q3 | Seasonality, mileage/travel totals, equipment purchases | Lock in tax-saving moves before year-end |
| Q4 | Final profit estimate, retirement contributions, cleanup items | Close the year with clean books + final payment plan |
Deadline note: the January 15 estimated tax deadline (for the prior tax year’s Q4) is easy to forget because it lands right after the holidays. For example, for the 2025 tax year, the Q4 estimated payment due date was January 15, 2026. (kiplinger.com)
Payroll: where compliance and trust meet
Payroll problems are expensive because they create “stacked” issues: wrong withholding, late filings, notices, and frustrated employees. If you have team members working in South Carolina, your business may have state withholding responsibilities, including filing and paying withheld amounts. (dor.sc.gov)
South Carolina also updates withholding tables annually—SCDOR published 2026 tables and instructed employers to begin using the 2026 tables and the 2026 SC W-4 on January 1, 2026. (dor.sc.gov)
If payroll is eating your weekends, consider delegating the mechanics while keeping visibility into the reports and cash requirements:
Step-by-step: a payroll “health check” you can run in 30 minutes
- Confirm every worker is properly classified (employee vs. contractor).
- Verify your pay schedule aligns with cash flow (and that payroll taxes are funded).
- Check that state withholding setup matches where the employee works.
- Spot-check a recent paystub: gross pay, deductions, employer taxes.
- Reconcile payroll reports to your bookkeeping each month (not at year-end).
Deductions that get attention: mileage + “mixed-use” expenses
Mileage is popular because it’s simple—until it isn’t. The IRS standard mileage rate for business use increased for 2026, effective January 1, 2026. (apnews.com)
What matters most is documentation. Strong habits:
- Log trips as you go (date, purpose, start/end, miles).
- Separate personal and business spending (ideally separate cards/accounts).
- Save receipts for travel, supplies, and subscriptions tied to business use.
Tax planning: make decisions before the calendar forces them
If you only look at taxes when your return is due, you miss most of the levers that reduce stress and improve outcomes: timing income/expenses, retirement contributions, owner compensation structure, and cleaning up messy categories early.
For year-round planning support, see:
Quick “Did you know?” facts for 2026 planning
- The IRS already published 2026 inflation adjustments (brackets and standard deduction amounts), which helps with longer-range forecasting for owners whose income swings. (irs.gov)
- South Carolina withholding tables were updated for 2026 and are intended for employer use starting January 1, 2026. (dor.sc.gov)
- Business mileage rates changed for 2026, which can meaningfully affect deductions for client-facing businesses that drive frequently. (apnews.com)
Local angle: Myrtle Beach owners—plan for seasonality, contractors, and multi-state work
In Myrtle Beach, many businesses experience seasonal revenue swings (tourism, hospitality, home services, events). That makes quarterly projections and cash flow planning more important than “same payment every quarter.”
Common local realities to plan around:
- Peak-season hiring: payroll setups need to be clean before your busiest weeks.
- Contractor-heavy work: strong vendor tracking now reduces year-end scramble.
- Remote or traveling teams: where work is performed can change withholding obligations and reporting.
If you want an accounting partner that helps you stay proactive (not reactive), you can also explore JTC CPAs’ broader firm resources here:
Want a clearer plan for 2026—without spending weekends in QuickBooks?
JTC CPAs helps business owners build reliable books, streamlined payroll, and a tax plan that matches how you actually operate—so your numbers support decisions, not stress.
FAQ: Kiplinger tax topics, estimated taxes, and small business planning
How do I know if I should be paying estimated taxes?
If you have income not covered by withholding (self-employment income, owner draws, investment income, rental income, side consulting), estimated taxes may be required. A CPA can confirm based on your prior-year liability and current-year projections.
What’s the most common reason business owners get surprised at tax time?
Two culprits: (1) bookkeeping that’s behind or inaccurate, and (2) paying estimates based on last year even though this year’s profit changed significantly.
Do South Carolina employers have to withhold state income tax?
If you have employees earning wages in South Carolina and you’re required to file a federal withholding return, South Carolina generally treats you as a withholding agent with responsibilities to withhold, file, and pay. (dor.sc.gov)
Is “outsourcing payroll” only for bigger companies?
No. Many small businesses outsource payroll specifically because compliance tasks scale faster than headcount. The goal is accurate pay, correct tax deposits, and clean reporting that ties back to your books.
Can I use mileage instead of tracking every gas receipt?
Often, yes—taxpayers may choose the standard mileage method or actual expenses, depending on eligibility and what benefits you most. What matters either way is contemporaneous documentation. The IRS business mileage rate increased for 2026. (apnews.com)
Glossary (plain-English)
Estimated taxes: payments made during the year to cover income tax and self-employment tax when withholding isn’t enough (common for business owners).
Withholding: taxes taken out of wages and remitted to taxing authorities on the employee’s behalf. (dor.sc.gov)
Standard mileage rate: an IRS-set cents-per-mile amount you can use to calculate deductible business vehicle expenses instead of tracking actual costs. (apnews.com)
Inflation adjustments: annual IRS updates that change tax brackets, standard deductions, and other thresholds. (irs.gov)
Reconciliation: matching bookkeeping records to bank/credit card statements so your financial reports reflect reality (not guesses).
