Practical tax planning for busy owners who want clean books, fewer surprises, and smarter decisions
Running a small business in Myrtle Beach can feel seasonal in more ways than one: revenue swings, staffing changes, and shifting expenses can all hit at once. Add tax deadlines and payroll compliance, and it’s easy to spend weekends chasing receipts instead of running the business. This guide covers the most important small business tax topics for 2026—organized as a checklist you can use year-round—so you can stay compliant, keep cash flow predictable, and avoid last-minute scrambling.
Why “tax topics” matter more than “tax season”
Most tax headaches don’t come from filing the return—they come from decisions made months earlier: how you pay yourself, how you categorize expenses, whether payroll was handled correctly, and whether your bookkeeping supports the story your tax return needs to tell. When your accounting and tax planning are aligned, you can:
• Reduce avoidable penalties and “catch-up” fees
• Improve cash flow forecasting (especially during slower months)
• Create cleaner financials for lending, leasing, or growth decisions
• Make quarterly tax payments less stressful and more accurate
JTC CPAs supports small and medium-sized businesses with proactive bookkeeping, payroll processing, tax planning, and advisory work—so your numbers can power decisions, not just compliance.
Core small business tax topics to review in 2026
Below are the areas that most often move the needle for small businesses—especially service businesses, agencies, contractors, and professional firms.
1) Entity type and owner pay (LLC, S Corp, partnership, sole prop)
Your entity affects how you pay taxes, how you pay yourself, and what paperwork you must maintain. Owners often choose an entity early and never revisit it—then outgrow the structure. A periodic check-in can help confirm whether your current setup matches:
• Your net profit trend
• Payroll complexity and compliance needs
• Your long-term exit plans (sale, transfer, succession)
If you’re forming a new business or restructuring, see JTC CPAs Business Setup Services.
2) Bookkeeping hygiene: your “audit trail” for deductions
Strong bookkeeping is not just tidy—it’s defensive. When your financials are consistent, you can confidently claim expenses and produce documentation quickly if questions arise. Key habits that reduce tax-time friction:
• Reconcile bank and credit card accounts monthly
• Attach receipts and notes to transactions (especially travel, meals, and equipment)
• Separate personal and business spending (separate cards/accounts)
• Review “miscellaneous” and “ask my accountant” categories before quarter-end
If your weekends keep getting eaten by QuickBooks tasks, explore JTC CPAs Bookkeeping Services.
3) Payroll and contractor payments: compliance is the point
Payroll is one of the fastest ways for small businesses to accidentally trigger penalties—often due to deposit timing, misclassification, or missed forms. The IRS uses different deposit schedules (monthly vs. semiweekly) and also has a “next-day deposit” rule if a large tax liability is hit on a single day. (irs.gov)
Monthly depositors: generally deposit employment taxes by the 15th of the following month. (irs.gov)
Semiweekly depositors: deposit depends on payday (Wed–Fri paydays deposit by following Wed; Sat–Tue paydays deposit by following Fri). (irs.gov)
If you’d like a streamlined system with fewer moving parts, see JTC CPAs Payroll Processing Services.
4) Estimated taxes and cash flow planning
If you don’t have enough withholding (common for owners), you may need quarterly estimated payments. A steady estimate process helps prevent year-end surprises and protects cash flow during slow seasons. Many businesses do best with a quarterly routine:
• Close your books
• Review profit and owner draws
• Adjust for one-time items (equipment, one-off projects, unusual expenses)
• Update your tax projection and set aside cash
For year-round strategy (not just filing), visit JTC CPAs Tax Planning.
5) Business vehicle deductions and mileage tracking
If you use a personal vehicle for business, mileage tracking is one of the cleanest ways to support deductions. The IRS standard mileage rate for business driving in 2026 is 72.5 cents per mile (effective January 1, 2026). (irs.gov)
Tip: Keep a simple habit: record purpose + starting point + destination + miles. Consistency matters more than perfection.
6) Filing deadlines that often trip up growing businesses
The paperwork footprint grows with headcount. For many employers, quarterly payroll reporting is done on Form 941, which is generally due the last day of the month after each quarter ends. (irs.gov)
| Quarter | Covers | Form 941 Due Date (Generally) |
|---|---|---|
| Q1 | Jan–Mar | April 30 |
| Q2 | Apr–Jun | July 31 |
| Q3 | Jul–Sep | October 31 |
| Q4 | Oct–Dec | January 31 |
If you’re behind on filings or dealing with notices, see JTC CPAs Tax Resolution Services.
Quick “Did you know?” tax facts for 2026
• The IRS standard mileage rate for business driving is 72.5¢ per mile in 2026 (starting January 1, 2026). (irs.gov)
• Payroll deposit schedules are based on your “lookback period” tax liability—not how often you run payroll. (stayexempt.irs.gov)
• Form 941 is generally due at the end of the month after each quarter ends, with extra time available in some cases if deposits were timely and in full. (irs.gov)
Local angle: Myrtle Beach seasonality + tax planning
Myrtle Beach businesses often operate with seasonal staffing and uneven cash flow. That reality changes how tax planning should be done:
Plan payroll early: onboarding seasonal staff can create payroll spikes—your deposit schedule rules still apply, and large liabilities can trigger faster deposit deadlines. (irs.gov)
Budget for “quiet months”: set aside tax reserves during peak revenue months so quarterly estimates and payroll taxes don’t collide with slower periods.
Keep your books current: when revenue moves quickly, monthly reconciliations can prevent a year-end cleanup project.
If you want a CPA team that can be a year-round partner (bookkeeping, payroll, tax planning, and advisory), start with the JTC CPAs homepage to explore services, or connect directly below.
Ready for proactive tax planning (not last-minute cleanup)?
If you’re a Myrtle Beach business owner who wants clean monthly books, smooth payroll, and confident tax decisions, JTC CPAs can help you build a system that works all year.
FAQ: Small business tax topics
How do I know if I should be making quarterly estimated tax payments?
If your income isn’t fully covered by withholding (common for owners), quarterly estimates may be needed. The cleanest way to know is to run a quarterly projection based on year-to-date profit, owner pay/draws, and any major changes (new hires, equipment, large contracts).
What’s the biggest bookkeeping mistake that causes tax problems?
Mixing personal and business transactions. It makes deductions harder to support, increases cleanup time, and can lead to inconsistent financial reports that don’t match what’s actually happening in the business.
What are the Form 941 due dates?
Form 941 is generally due by the last day of the month after the quarter ends (April 30, July 31, October 31, and January 31). (irs.gov)
How do payroll tax deposit schedules work?
Employers generally deposit payroll taxes on a monthly or semiweekly schedule based on prior-period tax liability (“lookback period”). Semiweekly deposit timing depends on which day you pay wages. (irs.gov)
What’s the 2026 standard mileage rate for business?
The IRS business standard mileage rate for 2026 is 72.5 cents per mile (effective January 1, 2026). (irs.gov)
Glossary
Estimated taxes: Periodic tax payments (often quarterly) made to cover income that doesn’t have enough withholding.
Lookback period (payroll): A prior-period measure the IRS uses to determine whether an employer is a monthly or semiweekly depositor for payroll taxes. (irs.gov)
Form 941: The Employer’s Quarterly Federal Tax Return used to report wages paid and payroll taxes withheld/owed. (irs.gov)
Standard mileage rate: An IRS-set per-mile rate used to calculate deductible vehicle costs for business use (as an alternative to tracking actual expenses). (irs.gov)
