Collaborating with an Advisor for a Mid-Year Reset

Halfway through the year, business gets… real. Revenue might be up, but so are expenses. Goals set in January? Some are still on track—others, not so much. And then there’s tax season lurking in the background like a distant storm cloud. This is exactly why a mid-year reset with your CPA or financial advisor isn’t just helpful—it’s essential.



The truth is, most of the year’s biggest financial wins (or mistakes) happen before December. Waiting until Q4 to course-correct is like trying to steer a ship that's already three feet from the iceberg. Strategic check-ins around June or July give you time to pivot, optimize, and finish the year strong—with fewer surprises and more peace of mind.

Here’s how to team up with an advisor for a smart mid-year reset that actually moves the needle.

Why a Mid-Year Financial Reset Matters

Think of mid-year as halftime in a game. No matter how things have gone so far, there's still plenty of time to regroup, revise the playbook, and go all in for the second half.

And when it comes to your business finances, the stakes are high. Without a review, it’s easy to fall into:

• Overspending in areas you didn’t realize
  
• Missing out on early tax planning opportunities
  
• Carrying forward bad cash flow habits
  
• Getting blindsided by underperforming revenue goals
  
  

Straight Talk CPAs has seen it all—clients who thought they were in the green, only to find out they were weeks from a cash crunch. Or business owners assuming tax estimates were fine, then being hit with a massive year-end bill. Mid-year is the time to catch these issues while there’s still room to fix them.

Step 1: Schedule a Strategic Check-In

The first move? Don’t wait for your CPA to call you. Proactively schedule a mid-year review. It can be a Zoom meeting, a phone call, or in-person—what matters is making it happen.

What this check-in covers:

• A review of your year-to-date financials
  
• Progress against revenue and profit goals
  
• Burn rate and cash runway (especially for startups)
  
• Current vs. projected tax obligations
  
• Any new expenses or income streams that changed your outlook
  
• Legislative or tax code updates affecting your business
  
  

This isn’t about looking back just for the sake of it. It’s about identifying what needs fixing now, not six months from now when options are limited.

Step 2: Reset or Refocus Financial Goals

Maybe you started the year planning to grow revenue 25%, but you're off track. Or maybe you're doing better than expected and want to capitalize on the momentum. Either way, this is your chance to reassess what’s realistic, what’s not, and what’s worth doubling down on.

A good CPA won’t just crunch the numbers—they’ll help you tie those numbers to actionable strategy.



Here’s how:

• If growth is lagging, they might help you reallocate marketing or hiring budgets.
  
• If profits are strong, it could be time to discuss tax-advantaged reinvestment or retirement contributions.
  
• If cash is tight, it might be worth reviewing pricing strategies or payment collection practices.
  
  

Straight Talk CPAs works side-by-side with clients during these mid-year reviews to adjust forecasts and recalibrate targets based on actual performance—not wishful thinking.

Step 3: Lock in Proactive Tax Planning

Mid-year is tax planning gold. Too many business owners think about taxes once a year—in March or April—when most of the big decisions are already behind them. But when you check in with your CPA mid-year, you can:

• Adjust estimated quarterly payments
  
• Maximize retirement contributions before it’s too late
  
• Time equipment or asset purchases more strategically
  
• Explore Section 179 or bonus depreciation
  
• Take action on R&D credits or other incentives
  
  

It’s not just about minimizing taxes—it’s about making better business moves while there’s still time to benefit from them.

Example: The Equipment Timing Tactic

A construction company Straight Talk CPAs worked with was considering a $50K equipment purchase in Q4. After a mid-year review, we suggested making the purchase in August instead to capitalize on accelerated depreciation benefits—and smooth out cash flow before their seasonal dip. That one move saved them over $12K in taxes.

Step 4: Clean Up Your Books

Even if you're not behind on bookkeeping, chances are there's a little mess in the margins. Misclassified transactions. Incomplete reconciliations. Unapplied vendor payments. A mid-year review is the perfect moment to tidy up your financial data.

Clean books aren’t just helpful—they’re necessary for making smart decisions. Your advisor can’t help you hit financial goals if the numbers don’t tell the truth.

Don’t have a dedicated bookkeeper? That’s your sign to either get one or talk to your CPA about managed bookkeeping support. Straight Talk CPAs offers both cleanup services and ongoing bookkeeping support, so nothing gets lost in the shuffle.

Step 5: Spot Opportunities and Risks

A fresh set of expert eyes mid-year can uncover things you didn’t even know to look for. Maybe there’s an opportunity to refinance debt, change entity structure, or prepare for a new business line. Maybe there’s a vendor that’s quietly draining profit.



A strategic advisor will dig deeper than your P&L and offer insights that go beyond accounting:

• Are you pricing your services correctly?
  
• Do you need to renegotiate vendor contracts?
  
• Is your payroll cost structure sustainable as you grow?
  
• Are your margins improving or slipping—and why?
  
  

These kinds of discussions turn your CPA from a compliance partner into a strategic ally.

Step 6: Plan for the Remainder of the Year

Now it’s time to act. After reviewing your current position, resetting goals, optimizing taxes, and cleaning the books—it’s time to map out the rest of the year.



Your CPA can help you:

• Set monthly targets for revenue and expenses
  
• Create a rolling 6-month cash flow forecast
  
• Identify what needs to happen each quarter to stay aligned
  
• Automate reports or alerts for financial red flags
  
• Establish accountability check-ins if needed
  
  

Planning forward, not backward, is how businesses stay ahead of change instead of constantly reacting to it.

Mid-Year Reset = Long-Term Wins

A mid-year reset doesn’t just fix the now—it builds better habits and stronger systems. It turns financial strategy into something you do regularly, not just once a year. And it sets your business up for fewer surprises, more savings, and stronger decision-making all year long.



Straight Talk CPAs helps business owners turn these check-ins into checkpoints that actually drive results. Because the second half of the year? That’s where the real magic (and money) happens.