Most business owners think tax season starts in April.
But the real tax season is happening right now.
The biggest tax savings (I’m talking the kind that actually lower your bill and put more money back in your pocket) happen before December 31, not when you file.
While most people wait until they’re already behind or stressed…our clients aren’t scrambling.
Why? Because we start year-end tax planning in November.
We’re already coordinating with CPAs, reviewing numbers, forecasting taxes, and making smart year-end moves that legally reduce tax liability. This is the difference between panic in April and peace in January.
Here are the five things every business owner should be doing right now to avoid surprises and walk confidently into the new year.
1. Coordinate With Your Bookkeeper and Tax Preparer Before Year-End
We call this pulling in the financial dream team. If you wait until spring, you miss real opportunities. By December 31, you should be reviewing:
- Your year-to-date profit
- Owner pay
- Estimated taxes already paid
- Expected deductions
- Any unusual or inconsistent activity
This one meeting answers key questions:
👉 Do you need to pay more in estimates?
👉 Are you overpaying and due for a correction?
👉 Are there tax moves you should make now?
For many of our clients, this saves hundreds or thousands.
2. Run Proactive Tax Planning Scenarios
This is where the biggest tax savings live.
Your accountant or bookkeeper should be modeling out:
- “What if you pay yourself more before year-end?”
- “What if we accelerate expenses?”
- “Should we adjust your salary or owner draws?”
- “Should you buy equipment in December instead of January?”
Tax savings aren’t guesses. They’re planned, calculated moves made before the deadline.
3. Review Your Owner Pay Strategy
Ask yourself:
- Did you pay yourself consistently?
- Are you underpaying or overpaying?
- If you’re an S-Corp, did you run payroll?
- Do you need to make an adjustment this month?
Your owner pay affects:
- Your tax bill
- Cash flow
- Profit margins
- Stress
This is something we fix for clients before the year ends, not during tax time.
4. Clean Up Your Books. Now, Not Later
No accountant wants to fix a year’s worth of chaos in February.
Before year-end:
- Reconcile every account
- Fix miscategorized expenses
- Clean up transfers
- Verify income
- Ensure liabilities (payroll & sales tax) are correct
- Clear out undeposited funds or opening balance equity
Cleaner books =
⭐ Lower stress
⭐ Accurate returns
⭐ Fewer delays
⭐ Fewer tax surprises
This is exactly what we handle inside our QuickBooks Health Checks.
5. Make Your Tax-Saving Moves Before December 31
You can’t retroactively save money on taxes.
Common year-end moves include:
- Retirement contributions
- Equipment or tool purchases
- Paying contractors/vendors
- Adjusting owner payroll (S-Corps)
- Pre-paying certain expenses
- Charitable contributions
These moves only count if they happen by Dec 31.
Feeling Behind? You’re Not Alone.
Business owners tell us all the time:
“I don’t know what I owe.”
“My accountant is waiting on me.”
“My books aren’t up to date.”
“I’ll deal with it after the holidays…”
But avoiding it is what makes tax season stressful.
When you’re proactive:
- Your books get cleaner
- Your tax bill gets clearer
- Your decisions get easier
- Your confidence increases
Your year-end should feel organized and strategic. Not chaotic.
Your Next Steps
If you’re DIY-ing your books, start here:
- Update QuickBooks
- Reconcile everything
- Review your owner pay
- Get a tax projection
- Make tax-saving moves before Dec 31
If you want a shortcut, we can help.
Need Clarity Before the Year Ends?
Book a QuickBooks Health Check and we’ll:
✔ Review your file
✔ Find the red flags
✔ Tell you what to fix
✔ Build your 90-day roadmap
✔ Make sure you’re tax-ready
You work too hard to feel behind. This is your moment to step into the new year with calm, clarity, and confidence.
