How to Use Summer to Your Tax Advantage

July isn’t just for fireworks, cookouts, and beach days—it’s also the perfect time to check in on your tax and financial goals. Summer in St. Louis is the perfect time to relax—but not on your finances. Whether you're self-employed, a small business owner, or managing personal taxes, mid-year tax planning can help you reduce stress and maximize your savings before the year ends.

At Collins & Collins Tax Advisors, we help clients turn summer downtime into financial wins. Here are four smart tax strategies to boost your financial health this season:

✅ 1. Review Your Tax Withholding and Estimated Payments

If you've had changes in income, freelance work, or new investments, now’s the time to review your tax withholding or estimated tax payments. Adjustments today can help avoid penalties or a large bill next spring.

🧾 2. Get Your Tax Documents Organized

Mid-year is a great checkpoint for collecting and organizing receipts, business expenses, and other tax deduction records. Keeping accurate documentation helps when it’s time to file and can support you in case of an IRS audit.

💼 3. Optimize Small Business and Self-Employed Tax Planning

If you're a 1099 contractor, gig worker, or run a small business, summer is the time to reassess your business tax strategy. Are you taking full advantage of business deductions? Are you structured properly (LLC, S-Corp)? Let’s create a tax-efficient plan tailored to your goals.

💡 4. Account for Major Life Changes

Life events like marriage, divorce, home purchases, or having a baby can shift your tax outlook. Proactive tax planning for life changes ensures you're prepared and not missing out on credits or deductions.

☀️ Summer Tax Planning = Peace of Mind

Don’t wait until December to think about your taxes. A mid-year tax check-in gives you time to pivot and plan for a smoother tax season. At Collins & Collins Tax Advisors, we make tax planning warm, approachable, and tailored just for you.

📞 Ready to book your summer tax session? Reach out for a consultation today.