Business Owner’s Guide: 3 Smart Financial Moves Before Year-End

The fourth quarter flies by fast. If you’re a business owner, the time to think about tax strategy and financial planning isn’t December 28th — it’s now.

At SCTAA, we help small business owners get ahead of year-end stress with focused financial reviews and strategies. Here are three moves to make before December 31 to finish strong and start next year with confidence.

1. Run a Year-End Profit Projection

Don’t wait until tax season to figure out how much you made.

• Review YTD revenue and expenses

• Project income through December

• Estimate your tax liability — and adjust if needed

  
  

If your profits are higher than expected, you still have time to:

• Increase retirement contributions

• Prepay deductible expenses

• Adjust estimated taxes for Q4

  
  

One Houston business owner saved $9,800 in April penalties just by running this review in early November.

2. Maximize Your Deductions

Many deductions are use-it-or-lose-it before year-end:

• Prepay January rent or software subscriptions

• Buy business equipment (Section 179 applies!)

• Pay year-end bonuses

• Write off home office, vehicle, and insurance expenses

  
  

Organize receipts, update your books, and don’t let deductions slip through the cracks.

3. Revisit Payroll and Owner Compensation

If you’re an S-corp owner, make sure:

• You’ve paid yourself a reasonable W-2 salary

• Any excess profits are distributed (and taxed accordingly)

• Payroll filings are accurate and timely

  
  

Also check:

• Contractor 1099s

• Final payroll runs

• Bonus and fringe benefit payments

A clean close to the year avoids January chaos — and audit triggers.

Final Tip:

Block off time now for a financial check-in. Don’t let December surprises steal your holidays or next year’s cash.

Want help with your year-end checklist?

SCTAA offers fast, focused business reviews to help you wrap up 2025 right.