BELNAVIS

Do You Need to Make Estimated Tax Payments?
Many taxpayers assume estimated taxes only apply to business owners. That's not always the case.

You may need to make estimated tax payments if you receive income that isn't subject to withholding, including:

• Self-employment or business income

• Gig economy or freelance income

• Rental income

• Interest and dividends

• Capital gains

• Certain retirement distributions

Generally, individuals should consider estimated tax payments if they expect to owe $1,000 or more when they file their tax return.
Making timely estimated tax payments can help you:

✔️ Avoid underpayment penalties

✔️ Better manage your cash flow

✔️ Eliminate surprises at tax time
If your income changes during the year, your estimated tax payments should change too.

We are Past the Half Way Point of the Year … Have You Reviewed Your Business Numbers Yet?
We are past the halfway point of the business year; a perfect time to stop, evaluate, and plan before year-end.
Ask yourself:
✔️ Is my business on track to meet its profit goals?
✔️ How does my year-to-date revenue compare to last year?
✔️ Are my expenses growing faster than my sales?
✔️ Will I owe estimated taxes, and am I prepared?
✔️ Are there tax-saving opportunities I should implement before December?

Too many business owners wait until tax season to look at their financials. By then, it's often too late to make meaningful changes.
Reviewing your year-to-date financial statements now gives you time to improve profitability, strengthen cash flow, and implement proactive tax strategies before the year ends.

Your books shouldn't just tell you where you've been, they should help guide where you're going.
If you haven't reviewed your financial statements yet, now is the time.

BELNAVIS, LLC | Empowering Your Journey to Purpose & Profit

"There is no job with a future in it; the future is in the one who does the job." Eric Butterworth

The future belongs to those who:
• Continue learning and growing
• Take ownership of their work
• Look for solutions instead of excuses
• Serve others with excellence
• Create opportunities where others see obstacles
Your greatest asset isn't your job; it's your character, your skills, and your willingness to grow.
Invest in yourself, and you'll create a future no one can take away.

Your Business Is Busy... But Is It Profitable?

Many business owners mistake sales for success.
You can be busy every day, have customers walking through the door, and still lose money if you haven't reached your break-even point.

Ask yourself:
• How much revenue do I need each month just to cover my expenses?
• How many products or services must I sell before I make a profit?
• If sales drop by 10%, can my business still cover its bills?

These are the questions a break-even analysis answers.

Once you know your break-even point, every sale beyond that point contributes to your profit.

Revenue keeps the doors open. Profit builds wealth. Knowing your break-even point helps you achieve both.

Do You Know Your Business Break-Even Point?

Your break-even point is the point where your sales are enough to cover all of your business expenses no profit, but no loss either.

Why does it matter?
• It tells you the minimum sales you need each month to stay in business.
• It helps you set realistic sales goals.
• It helps you price your products and services more effectively.
• It helps you decide whether it's time to hire, expand, or reduce costs.



At BELNAVIS, we use break-even analysis to help clients answer questions like:
• "How much do I need to sell each month?"
• "Can I afford to hire another employee?"
• "How much do I need to increase prices to remain profitable?"

Understanding your break-even point turns guesswork into informed business decisions.

Know your numbers. Grow your business.

Business Owners: Don't Let Poor Mileage Records Cost You a Bigger Tax Deduction

Effective July 1, 2026, the IRS increased the standard mileage rate from 72.5¢ to 76¢ per business mile due to rising fuel costs.

Be sure you're using the correct rate:
• January 1 – June 30, 2026: 72.5¢ per business mile
• July 1 – December 31, 2026: 76¢ per business mile



Remember to record:
• Date of each business trip
• Starting point and destination
• Business purpose of the trip
• Miles driven

A well-maintained mileage log can maximize your deduction and provide valuable support if the IRS ever requests documentation.

No mileage log = No mileage deduction. Good recordkeeping today can save you money tomorrow.

IRS Increases Standard Mileage Rate for the Remainder of 2026
This is good news for business owners and self-employed taxpayers who use their personal vehicle for business.

Effective July 1, 2026, the IRS increased the standard mileage rate from 72.5¢ to 76¢ per business mile due to rising fuel costs.
What this means for you:
• Business miles driven January 1 – June 30, 2026: 72.5¢ per mile
• Business miles driven July 1 – December 31, 2026: 76¢ per mile
Now is a great time to review your mileage records and make sure you're tracking your business miles accurately. Good records can help maximize your deduction and support your tax return if ever questioned by the IRS.

Need help determining whether the standard mileage method or actual expense method is best for your business? We're here to help.

"The Light of Heaven shines through me and illumines my path." Ernest Holmes

Every successful business begins with clarity.

The strongest businesses are built when purpose guides strategy. When your values illuminate your decisions, your finances become more intentional, your leadership becomes more focused, and your business becomes a vehicle for creating lasting impact.
This week, let your purpose be the light that guides every decision you make.

💙 At BELNAVIS, we believe financial clarity empowers business owners to lead with confidence, purpose, and peace of mind.

✨ Prosperity Begins in the Mind ✨
True prosperity isn't measured by the size of your bank account—but by the way you think, believe, and approach life?
As Eric Butterworth reminds us:

"Prosperity is a way of living and thinking, not just money or things. Poverty is a way of living and thinking, and not just a lack of money or things."

Financial success starts long before the numbers. It begins with a mindset of growth, gratitude, purpose, wise stewardship, and the belief that opportunities are always available.

At BELNAVIS, we believe accounting is about more than taxes and financial statements. It's about helping individuals and business owners build a strong financial foundation, make confident decisions, and create lasting prosperity.
🌟 Change your thinking.
🌟 Strengthen your financial habits.
🌟 Build the future you envision.
Visit us at belnavisaccounting.com to learn how we can help you align your finances with your goals.

As we celebrate America's Semiquincentennial, we reflect with gratitude on our past and look forward with hope to the future.

Wishing you a safe and meaningful Independence Day from the BELNAVIS family.

🇺🇸 Happy 4th of July!