You built your business over decades, and now you're thinking about the kids, the grandkids, and what comes next. The best accounting firms know taxes touch every one of those plans.
That's why they don't wait until April. Most tax savings depend on decisions made before December 31.
At Kleiber & Associates CPAs, that's how we approach business tax planning for Arlington owners. Let's make it simple. Here are four strategies worth a look.
Retirement Plans: The Tax Break Owners Overlook
Here's the insight many miss: that higher catch-up only applies for four years. If you're 58 or 59 now, it's worth planning which years to use it.
Our retirement planning tips for Arlington professionals walk through plan options. We're happy to compare them with you anytime.
Hiring Your Kids or Grandkids the Right Way
If your children pitch in, putting them on payroll may shift income into a lower bracket. Wages paid to your child under 18 aren't subject to Social Security and Medicare taxes if the business is a sole proprietorship or a partnership owned only by the parents (IRS, n.d.).
The catch? That exemption disappears if you operate as a corporation, and grandchildren don't qualify for it. Paying grandkids a reasonable wage for real work can still make sense.
Pay should match the job, and records matter. For the bigger family picture, see our estate planning essentials for Arlington residents. Curious whether it fits your setup? Just ask.
How Top Accounting Firms Time Equipment Purchases
Buying a truck, tractor, or new equipment? Timing can matter as much as price. Under 2025 legislation, 100% bonus depreciation is permanent for qualifying property acquired after January 19, 2025, and the Section 179 limit rose to $2.5 million, indexed for inflation (BDO, 2025).
Here's how we handle it: we look at your income first. Deducting everything in a slow year may waste deductions you'd rather use in a higher-bracket year.
Our guide on tax planning strategies for Arlington small business owners covers more timing moves. Planning a big purchase? Let's run the numbers first.
Plan Your Exit Before You Need To
Most owners over 50 have a rough idea of when they'd like to step away. Fewer have mapped what a sale or family handoff may cost in taxes.
Here's a detail that surprises people. Equipment you expensed earlier may be taxed as ordinary income at sale through depreciation recapture, while goodwill generally receives capital gains treatment.
Starting three to five years ahead gives you room to adjust structure and timing. We cover more in navigating tax implications of selling your Arlington business. If an exit is on your horizon, an early conversation is a good place to start.
Quick Takeaways
- Year-round planning opens options that disappear after December 31.
- Owners aged 60 to 63 may contribute up to $11,250 in 401(k) catch-ups for 2026.
- Hiring your own children under 18 can avoid payroll taxes in eligible business types.
- Bonus depreciation is permanent, but timing matters.
- Deductions taken today can affect taxes when you sell.
Conclusion
Taxes shape every chapter of business ownership, from hiring your kids to handing over the keys. Strong accounting firms treat tax planning as a year-round conversation, not a filing deadline.
Retirement plans, family payroll, equipment timing, and exit planning all connect. When you coordinate them, you can pursue your goals with fewer surprises.
At Kleiber & Associates CPAs, we work with Arlington owners who want a clearer view of their options. If any of these strategies sparked a question, give us a call. We're glad to talk it through, no pressure.
FAQs
What should I look for in top accounting firms for my business?
Look for year-round planning, not only tax filing. Ask how they coordinate business taxes with your retirement and estate goals.
Can I hire my grandchildren in my business?
Yes, if they do real work and are paid reasonably. The Social Security and Medicare exemption generally applies only to your own children under 18 in eligible business types.
When is the right time for business tax planning?
Before year-end. Many moves, like equipment purchases and certain retirement contributions, depend on dates.