The Four Tax Moves Every Small Business Owner Should Make Before Year-End
June 28, 2026
Four Tax Moves Before Year-End
The biggest mistake small business owners make with taxes is treating them as a once-a-year event. By the time you are sitting across from your accountant in March, most of the decisions that would have saved you money have already been made for you. The window for action is before December 31.
1. Max Out Your Retirement Contributions
A SEP-IRA lets you contribute up to 25% of net self-employment income, up to $69,000 for 2024. Every dollar you put in reduces your taxable income dollar for dollar. If you have not set one up, it takes about 30 minutes.
2. Accelerate Deductible Expenses
If you know you will need new equipment, software, or a professional service in the next few months, consider purchasing before year-end. Section 179 lets you deduct the full cost of qualifying assets in the year they are placed in service.
3. Review Your Estimated Tax Payments
Underestimating can mean a penalty in April. Overestimating means you gave the IRS an interest-free loan. Review your actual profit for the year against your estimates and make a fourth-quarter payment that puts you in the right place.
4. Organize Your Receipts Now
Every uncategorized expense is a potential deduction you will miss because you cannot prove it. Spend an hour now reconciling anything that is still floating in your inbox.
These are the moves that make a material difference. If you want to run through them with an advisor before the year ends, we can schedule that conversation.