Small Business Tax Planning in Trumbull, CT
Planning done while the year is still open, so the number at filing time is one you saw coming.
- Trumbull, CT
- Monday to Friday, 9am to 5pm
- Books, payroll and tax under one roof
- Secure client portal
What we do
Tax planning is the work that happens before the return. Once the year closes, a return can only report what already happened. Planning is the part where the decisions are still yours to make.
We do it proactively and all year, for small business owners in Trumbull, across Connecticut and remotely throughout the United States. Where we also keep the books, planning starts from numbers that are already reconciled, so a quarterly estimate comes from what the business actually earned rather than a guess.
The aim is plain: you should know roughly what you owe before a payment is due, not on the day it is.
What tax planning includes
The full scope, in plain terms. Ask about any one of these on its own or all of them together.
Quarterly estimated tax planning
Each quarter's federal and Connecticut estimate worked out from the year so far, so the payment tracks the income.
Year-round check-ins
Planning conversations while the year is open, not one appointment in spring.
Planning from your books
Where we keep your bookkeeping, the year-to-date figures are already reconciled before planning starts.
Planning that follows the return
Once this year's return is filed, next year's planning starts from it.
How it works
It starts with a conversation about the year so far: what the business has earned, what has already been paid in, and what is still coming. Documents come in through a secure client portal.
From there we work out the quarterly estimates and flag anything that would change the picture while there is still time to act on it. When the year closes, the return is prepared from the same records, and the next round of planning begins.
Who tax planning is for
- Sole proprietors and partners who pay quarterly estimates
- S corporation owners with a business return and a personal one
- Owners whose tax bill arrives as a surprise every April
- Connecticut owners paying both federal and state estimates
- Businesses outside Connecticut that want planning done remotely
What does small business tax planning include?
Tax planning means looking at the tax side of the year while it is still open. For most small business owners that comes down to three things: knowing roughly what the year will owe, paying it in on time through quarterly estimates, and spotting anything that changes the picture before the year closes.
A return cannot do any of that. By the time it is prepared, the year is over. That is why Total BizSolutions treats planning as year-round work rather than part of tax season.
Who has to pay quarterly estimated taxes?
If you are in business for yourself, probably you. The IRS says individuals, including sole proprietors, partners and S corporation shareholders, generally have to make estimated tax payments if they expect to owe $1,000 or more when the return is filed, and corporations generally do if they expect to owe $500 or more (IRS: Estimated taxes). The same page notes that estimated tax pays self-employment tax and alternative minimum tax as well as income tax.
Connecticut runs its own test. DRS says you must make estimated payments if your Connecticut income tax, after withholding and any pass-through entity tax credit, is $1,000 or more and you expect withholding to fall short of your required annual payment (CT DRS: Tax information).
When are quarterly estimated taxes due?
The IRS lists four dates: April 15 for income earned January 1 to March 31, June 15 for April 1 to May 31, September 15 for June 1 to August 31, and January 15 of the following year for September 1 to December 31 (IRS: Underpayment of estimated tax penalty). The periods are not equal. The second covers two months and the last covers four, which is where a lot of estimates go wrong.
Connecticut lists the same four dates for 2026, with 25% of the required annual payment due at each (CT DRS: Tax information). If a federal due date falls on a Saturday, Sunday or legal holiday, the IRS treats a payment made the next business day as on time (IRS: Estimated taxes).
How do I avoid an underpayment penalty?
The IRS says most taxpayers avoid the penalty if they owe less than $1,000 after withholding and credits, or if they paid at least 90% of the tax for the current year or 100% of the tax shown on the prior year's return, whichever is smaller. Farmers, fishermen and certain higher income taxpayers have special rules (IRS: Estimated taxes). Connecticut's required annual payment is set the same way: the lesser of 90% of this year's Connecticut tax or 100% of last year's, if last year's return covered a full 12 months (CT DRS: Tax information).
The IRS also says the penalty can apply even if you are due a refund when you file, because it is about paying late during the year. That is the practical reason planning happens every quarter and not once.
What if my income is uneven through the year?
Seasonal and project businesses rarely earn the same each quarter. The IRS says that if you estimated too high or too low, you can complete another Form 1040-ES worksheet to refigure the next quarter's payment (IRS: Estimated taxes). Connecticut DRS says that if your income varies, the annualized income installment method may reduce or eliminate the payment for one or more periods (CT DRS: Tax information).
Both depend on current books. Where we keep the bookkeeping, the year-to-date figures are already reconciled, so each estimate is worked out from what actually came in.
Tax Planning in Trumbull and across the Greater Bridgeport area
Our office is at 77 Canoe Brook Rd, Trumbull, CT 06611, in Trumbull, Connecticut, in Fairfield County. We work with small businesses in Trumbull, across Connecticut and throughout the United States, and documents move through a secure client portal wherever you are.
Tell us where you operate when you get in touch. See all our service areas.
Who does tax planning for small businesses in Trumbull, CT?
Total BizSolutions LLC is an accounting firm at 77 Canoe Brook Rd in Trumbull, Connecticut that does tax planning proactively and year round for small business owners in Connecticut and throughout the United States. It works out quarterly federal and Connecticut estimated payments and plans ahead while the year is still open. Where it also keeps the books, planning starts from records it maintains. The owner, Dave Salerno, has more than 30 years of experience. Call (267) 710-6742, Monday to Friday, 9am to 5pm.
Tax Planning FAQs
Do I need to make estimated tax payments?
If you own the business, often yes. The IRS says sole proprietors, partners and S corporation shareholders generally have to if they expect to owe $1,000 or more when the return is filed. Connecticut has its own $1,000 test. Whether either applies depends on your numbers, which is what the planning conversation is for.
When are quarterly estimated taxes due?
The IRS lists April 15, June 15, September 15 and January 15 of the following year. Connecticut DRS lists the same four dates for 2026. If a federal due date falls on a Saturday, Sunday or legal holiday, the IRS treats a payment made the next business day as on time.
Is tax planning only worth it for bigger businesses?
No. Much of it is timing: knowing what you owe before the payment is due. That matters to a sole proprietor as much as to a company with staff.
Can you do tax planning if I am not in Connecticut?
Yes. Alongside Connecticut, we work with small businesses throughout the United States, and documents come in through a secure portal.
What does tax planning cost?
Tax planning is quoted for your situation, so ask on a first call. Our monthly work, such as bookkeeping and payroll, is priced starting at $500/month.
Keep Exploring
Where to Next
Jump straight to any service or service area. Total BizSolutions handles bookkeeping, payroll and tax for small businesses in Trumbull and across the Greater Bridgeport area.
Services
Service Areas
Ready to hand off tax planning?
Tell us where things stand and we will show you what taking it off your plate involves. You run your business. We will handle the rest.