Very few business owners are thinking about taxes in August.  Even if they extended their returns, the deadlines to file corporate and personal returns are in September and October, respectively.  With no urgent deadline to meet, business owners are happy to not think or worry about taxes and focus on other parts of their business.

This is probably not the right mentality, according to Karin Price Meuller's article Midyear Tax Check: Organize Now, Save Later.  She makes a strong case for using this time to organize yourself and plan for how to maximize your tax dollars this year.  In addition, I recently wrote: 4 Tips to get the most from your Tax Planning on the American Express OPEN Forum.

Here is the main point - every business owner needs to be thinking about and planning for tax all year long.  Waiting until a deadline usually means it is too late!