Year-end is your best opportunity to lower your tax bill and start the new year on solid footing—but only if you act before December 31. Here is the checklist we run for our clients so nothing gets missed.
What should be on a year-end accounting checklist?
- Reconcile all bank and credit card accounts
- Review accounts receivable and chase outstanding invoices
- Review accounts payable and record all bills
- Capture year-end deductions and consider equipment purchases (Section 179)
- Gather W-9s and prepare 1099s for contractors
- Review your profit and estimate your tax liability
- Fund retirement contributions before deadlines
- Back up records and organize documents for your tax preparer
Why do year-end tax moves matter?
Most tax-saving strategies—equipment purchases, retirement contributions, timing income and expenses—only work if you act before the year closes. Once January arrives, the year is locked and most of those levers are gone. A December review can meaningfully change your April bill.
How do you make tax season painless?
Clean, reconciled books and organized documents at year-end make filing fast and accurate. When your bookkeeping is current all year, year-end is a review—not a scramble—and your tax preparer has everything they need.
We handle year-end close, 1099s, and proactive tax moves so your April is calm. See our tax & compliance services.