Top 10 Year-End Tax Moves

Tax savings happen in December, not April

By the time your return is being prepared, the year is locked. November and December are when the numbers can still be changed — equipment, payroll, retirement plans, timing. That’s the whole idea behind this list.

A taste of the ten

• Buy needed equipment — and place it in service — by Dec 31. Section 179 and bonus depreciation can write off the full cost this year, but “in service” means in use, not on order.
• Time your income. Invoice late December so payment lands in January, or collect aggressively now — legal either way, and it can move thousands.
• Open the retirement plan before the deadline. A solo 401(k) generally must exist by Dec 31 to take this year’s deferrals.
• True up your S-Corp salary. A December payroll run can fix reasonable compensation — after Dec 31, the option is gone.

How to use it

Print it, check what applies, and bring it to a year-end planning conversation — ours or anyone’s. Ten minutes with this list beats an April surprise.

Questions about how this applies to your business? Book a free discovery call — thirty minutes, no cost, no jargon. Or head back to all free resources.