After December 31, most of your options are gone.
By the time we meet with you in March or April, the year is over. At that point, we’re mostly reporting what already happened. The planning that actually lowers your tax bill happens now.
Here are four moves business owners can still make before year-end:
1. Buy the equipment you already need.
If a new truck, computer, or piece of equipment is on your list for early next year, buying it and putting it into service before December 31 may let you deduct much or all of the cost this year. One rule, though: don’t buy something just for the write-off. Spending a dollar to save 30 cents is still spending a dollar.
2. Look at your retirement contributions.
Contributing to a retirement plan is one of the simplest ways to lower your taxes and pay yourself at the same time. Some plans have to be set up before year-end, so don’t wait until tax season to ask.
3. Time your income and expenses.
Depending on how your business keeps its books, you may be able to send some invoices in January or pay some bills in December. Moving things a few weeks can shift your tax bill from one year to the next.
4. Check your payroll and estimated payments.
If you own an S Corp, make sure your salary is set where it should be before your last payroll of the year. And if you’ve had a stronger year than expected, adjusting your fourth-quarter estimated payment now can save you a surprise in April.
Not every move fits every business, and some of them only make sense when you look at the full picture. That’s what a year-end planning meeting is for.
If you haven’t looked at your 2026 numbers yet, now’s the time. Send us a message and we’ll help you find what’s still possible before the window closes.
