Why a Post-Tax Season Review Matters

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Once your return is filed, it’s tempting to put the books aside and not think about taxes for another year. But waiting until next spring to look at your finances means missed opportunities. A post-tax season review helps you:

  • Identify areas of overspending or inefficiency

  • Spot tax deductions or credits you missed

  • Adjust cash flow strategies

  • Plan for upcoming changes in tax laws

  • Align financial goals with tax strategy

Think of it as an annual checkup for your business’s financial health. The insights gained now can make next year’s tax season smoother and more profitable.

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Step 1: Review This Year’s Return

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The first step is to look closely at your recently filed return. Key questions to ask include:

  • Did you owe more than expected?

  • Did you receive a refund, and if so, why?

  • Were there deductions you didn’t qualify for but might next year?

  • Did your tax strategy align with your growth goals?

At JL Wennes CPAs, we sit down with our clients after every tax season to review what worked and what didn’t. This is not just about compliance — it’s about learning from the numbers to make smarter decisions moving forward.

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Step 2: Adjust Estimated Taxes and Withholding

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If you owed more than anticipated or received a large refund, it’s a sign your estimated tax payments or withholding need adjustment. Businesses that make quarterly estimated payments should use this post-season period to recalibrate.

Making the right adjustments now prevents surprises next April and improves cash flow management throughout the year.

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Step 3: Evaluate Cash Flow and Profitability

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Tax season provides a unique window into your business’s profitability. Once the dust settles, review:

  • How much revenue is actually flowing to the bottom line

  • Whether expenses are aligned with revenue growth

  • Opportunities to reduce unnecessary spending

  • Whether additional investments (equipment, staff, marketing) are feasible

JL Wennes CPAs helps clients turn their tax return into a roadmap. By analyzing your financials, we can show you where to trim costs, how to better manage receivables and payables, and where you may have room to invest.

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Step 4: Plan for Deductions and Credits Now

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Waiting until tax season to hunt for deductions is a recipe for missed opportunities. Many tax-saving strategies require action during the year, not after it’s over.

Examples include:

  • Retirement plan contributions (e.g., SEP IRAs or 401(k)s for small businesses)

  • Equipment purchases qualifying for Section 179 expensing

  • R&D tax credits for qualifying businesses

  • Energy efficiency upgrades that qualify for federal or state incentives

By planning ahead, you can time major purchases, contributions, or initiatives to maximize savings.

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Step 5: Consider Entity Structure and Strategic Changes

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As businesses grow, their tax situation often changes. For example, an LLC may have tax advantages early on, but switching to an S Corporation or C Corporation could save thousands as revenue increases.

The post-tax season period is an ideal time to evaluate whether your current structure still serves you. JL Wennes CPAs regularly reviews entity options with our clients, ensuring that your business is not only compliant but optimized for growth and tax efficiency.

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Step 6: Review Payroll and Compensation Strategies

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Payroll taxes are often one of the largest expenses for small and midsize businesses. Reviewing how owners and key employees are compensated can uncover opportunities to:

  • Reduce payroll tax burden

  • Balance salary vs. distributions for tax efficiency

  • Implement employee benefit plans that lower taxable income while improving retention

By revisiting payroll strategy now, you ensure that compensation aligns with both business goals and personal financial planning.

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Step 7: Keep Up with Changing Tax Laws

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Tax laws change frequently, especially in California. San Diego business owners need to stay alert to new regulations, credits, or reporting requirements. At JL Wennes CPAs, we monitor these changes year-round, so our clients never miss an update that could impact their tax liability.

A post-season review is a great time to highlight what’s new for the current year and what’s on the horizon, giving you ample time to prepare.

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Step 8: Build a Tax Planning Calendar

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One of the best ways to reduce stress is to spread tax planning out across the year. A tax calendar includes:

  • Quarterly estimated tax deadlines

  • Payroll reporting due dates

  • Sales tax filing dates

  • Strategic checkpoints for reviewing financial performance

When you outsource accounting or tax planning to JL Wennes CPAs, we build this calendar for you, ensuring nothing slips through the cracks.

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Step 9: Plan for Growth and Expansion

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Tax planning isn’t just about minimizing liability — it’s about aligning your finances with long-term growth. A post-season review should address:

  • Financing needs for expansion

  • Cost-benefit analysis of new hires

  • Real estate or equipment purchases

  • Long-term retirement and succession planning

By mapping financial strategy to your business goals, you can ensure every move is tax-smart and sustainable.

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Step 10: Turn Tax Season into a Strategic Advantage

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Too many business owners view tax season as a once-a-year headache. In reality, it’s a valuable moment of reflection. By partnering with JL Wennes CPAs, you transform tax season into a strategic advantage — using the numbers not just for reporting, but for planning, growth, and smarter decision-making.

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Why Work with JL Wennes CPAs in San Diego County?

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JL Wennes CPAs isn’t just another accounting firm. We specialize in helping small to midsize businesses move beyond compliance into proactive financial management. Our team works closely with you throughout the year, offering:

  • Comprehensive tax planning

  • Strategic financial reviews

  • Cash flow analysis and forecasting

  • Payroll and compensation strategy

  • Long-term business advisory

As a local San Diego County firm, we understand the unique challenges businesses face here — from California’s complex tax environment to industry-specific regulations. Our goal is to give you peace of mind while positioning your business for growth.

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Final Thoughts

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Tax season may be over, but your financial planning should not stop there. A post-tax season review gives you the clarity to adjust strategies, strengthen cash flow, and take advantage of opportunities well before next year’s deadlines.

By planning ahead with JL Wennes CPAs, you gain more than compliance — you gain a partner invested in your success.

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Ready to Plan Ahead?

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If you’re ready to turn this year’s tax return into a roadmap for growth, JL Wennes CPAs is here to help. We work with small and midsize businesses across San Diego County to provide accounting, tax planning, and strategic financial guidance year-round.

👉 Schedule your post-tax season review today and set your business up for success next year.