How to Prepare for Year-End Tax Planning (Without the Panic)

Your calm year-end roadmap

Here’s what I recommend for small business owners in November/December—no panic required.

1) Close the books monthly

Reconcile every bank/credit card. Clear the “Ask My Accountant” pile so your P&L reflects reality.

2) Get 1099s ready now

Collect W-9s, verify names/TINs, and total what you paid each contractor. January filings become a breeze.

3) Review payroll & owner pay

S-corps: confirm reasonable compensation and year-to-date wages. Tie out payroll tax filings to your books.

4) Look at retirement options

If a Solo 401(k) or SEP-IRA is on the table, map contribution options and deadlines. The rules vary—ask if unsure.

5) Consider timing (without panic-buying)

If cash flow allows, time deductible purchases you truly need. Make sure anything big meets your capitalization policy.

6) Tidy documentation

Receipts stored? Mileage log current? Business vs. personal separated? Future-you will thank current-you.

7) Forecast your tax bill

Use year-to-date profit to estimate taxes and adjust your last estimated payment if needed.

A focused 60-minute working session

In one hour, we’ll review your books, spot easy wins, and draft a custom year-end checklist so you can enjoy the holidays without the “Did I forget something?” feeling.

Need help? Email sara@dunhambookkeepingservices.com or book time at calendly.com/sara-dunhambookkeepingservices.