There’s still time to tidy things up before the clock strikes midnight on December 31. A few smart fixes now = less stress, better deductions, and smoother sailing through tax season.
Here are 4 areas to focus on before year-end:
Check for Missing Transactions:
Make sure your software pulled in everything from all your accounts and every month is reconciled to your bank statements—no gaps, no missing months.
Clean Up Categories:
Review your uncategorized or miscellaneous transactions and assign them properly because Miscellaneous is not a viable expense and can become your January nightmare.
Be Sure You’re In Balance:
Make sure your books are in balance by viewing the Balance Sheet. Record descriptions that explain large expenses. The cleaner your records, the easier your tax prep (and the less your accountant charges you).
Gather Necessary 1099 Information:
Make sure you have a completed and signed W-9 form for each contractor you paid $600 or more in the calendar year. This will ensure you have the name, address and social security number to prepare your 1099s in January.
Bonus Tip: Don’t forget about mileage, home office deductions, and out-of-pocket expenses you may have missed. Those can be handled with journal entries if necessary.
Get Ready—Our Tax Time Made E-Z course launches January 2026!
We’ll walk you step-by-step through organizing your records, reviewing reports, and preparing for tax time with confidence.