year-end tax preparation checklist

before december 31 — the time-sensitive moves

Review retirement contributions (SEP IRA, Solo 401(k), IRA) — for 2026 the SEP/Solo 401(k) deferral limit is $72,000. Confirm equipment is placed in service (not just ordered) for Section 179. Time income and expenses — accelerating or deferring depending on your projected bracket. Make charitable contributions. Assess whether to accelerate or defer revenue based on this year vs. next year's projected tax.

These are the moves that have to happen before the year flips. After December 31, most of them are closed for the prior year. The cost of missing them isn't a penalty — it's the savings you didn't capture.

• Retirement contributions (SEP/Solo 401(k) up to $72,000 for 2026)
• Equipment placed in service for Section 179 (not just ordered)
• Income and expense timing based on projected bracket
• Charitable contributions and any pledged gifts

after year-end — gather documents early

Reconcile your books, collect 1099s from clients and W-9s from contractors, gather K-1s, mortgage and student-loan interest statements, and investment cost basis. The earlier your books close and documents arrive, the earlier you can file — and the less likely you are to rush into mistakes or miss a deduction you forgot about.

Push contractors for W-9s before year-end, not in February when they're slow to respond. A missing 1099-NEC in February is the most common cause of a delayed return.

the january estimate decision

Estimate your tax bill before January so you can decide whether to fund a retirement account or make an estimated payment by the January 15 deadline. Both can still affect the prior tax year — a SEP IRA contribution made before the filing deadline can be treated as a prior-year contribution, and the Q4 estimated payment is due January 15.

This is the single most valuable January decision: knowing the number early enough to act on it. AA runs the estimate in November, not January, so the action window is open rather than already closed.

what to bring to a year-end planning meeting

Year-to-date P&L and balance sheet, projected remaining-year income, planned equipment purchases, any ownership or entity changes, and personal-income estimates if you file jointly. With those, a planning meeting can lock in every time-sensitive move before the deadline.

AA runs a year-end planning meeting in November to lock in every time-sensitive move, then closes the books and prepares the return the moment documents arrive — so filing season is a calm, planned event, not a January panic.