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Fall is the perfect time for small business owners to pause, take stock, and prep for year-end. Getting ahead now means fewer surprises in January and more accurate numbers for smart decisions before 2026 hits.
Here is what you should be doing right now:
Reconcile every bank, credit card, and loan account
Make sure all records through September (or the most recent month) match the bank. The small discrepancies ignored now will snowball later.
Review your balance sheet
Verify that loans, owner draws, and capitalized assets are recorded accurately, ensuring they do not appear as expenses on the P&L.
Look closely at net profit
Use your YTD profit to check whether you’ve paid enough in payroll withholdings and/or estimated taxes. A little review now can prevent a big surprise next spring.
Confirm 1099 details
Verify that W-9s are on file for all service providers to ensure smooth year-end filings.
Meet with your CPA or Enrolled Agent early
Certified tax professionals are in short supply. If you have a good one, keep them happy! Bring them clean, current books and ask about tax strategies before year-end, not after.
Start forecasting
Use your year-to-date numbers to project Q4 cash flow and taxes. A good forecast can help you plan equipment purchases, bonuses, or contributions before it’s too late to make them count.
Taking a proactive approach now makes January feel like a check-in, not a scramble. Your CPA (and your stress level) will thank you for it.
We’re looking forward to talking.