DENISE STUBBS, CPA

If you own a small business, the period between tax seasons isn’t down time — it’s opportunity. The decisions you make between May and August can meaningfully reduce your tax bill next April, sometimes by thousands of dollars.

Tax season is over, and for millions of Americans, a refund is on the way. The average federal refund in recent years has hovered around $3,000, which sounds like a windfall until you remember it was your money all along. That framing matters. A refund isn’t a bonus from the government. It’s money you overpaid throughout the year. Which means you had an interest-free loan to the IRS, and now you’re getting it back without any growth. None of that is to say you should feel bad

Closing a business is one of the most emotionally complex decisions an entrepreneur makes. Whether it was a strategic pivot, a hard circumstance, or simply the end of a chapter you chose to close—by the time you’ve notified your team, told your clients, and started winding things down, you’re exhausted.

If that sounds familiar, you're in very good company. "Where's My Refund?" is one of the most-visited pages on the IRS website every spring—and for good reason. When money is coming back to you, you want to know when it's actually going to show up.