If you're a business owner, there's a good chance your to-do list is already packed heading into Q4. Payroll, client deadlines, holiday schedules. Tax planning can feel like the thing that gets pushed to "later." But later usually means January, and January is too late to do anything about the year that just ended.

Here's what to focus on between now and December 31st.

The Biggest Mistake? Waiting Until January

I wish more business owners were thinking about tax planning right now, not in the new year. It's crucial to help avoid unexpected tax bills, and it's a good way to potentially save money on taxes.

I see the same pattern every year: business owners wait until the year ends before thinking about taxes at all. By the time January rolls around, they realize they should have bought something in the prior year to help reduce their tax burden, or they get hit with a big tax bill they didn't see coming. Don't let that be you. If a purchase, a retirement contribution, or an estimated payment could help your 2026 tax picture, it should be discussed now.

What "Finishing the Year Strong" Actually Means

You don't need to overhaul your entire operation in the next few months. In my experience, it comes down to two things: keeping your books up to date and actually looking at what they tell you.

Analyze the trends yourself or sit down with an accounting professional who can help give guidance. Use that information to decide whether changes need to be made, either to improve the bottom line or to put a tax strategy in place if it's been a particularly good year.

Your books aren't just a record of what already happened. Use them as a tool for deciding what to do next.

The One Conversation Worth Having Before Year-End

If you only have time for one meeting with your CPA before the year closes out, make it count. Ask about any new tax laws you should know about, and whether you should be doing anything differently to take advantage of law changes.

Tax law shifts every year, and I don't expect business owners to track it closely. That's exactly why this conversation matters. Bring your CPA into the conversation and let them tell you whether last year's strategy still makes sense, or whether it's time to adjust.

Great Year or Rough Year, Your Strategy Should Match

Not every business is having the same 2026, and I take a different approach depending on which kind of year a client had.

If it was a strong year, look at things like buying new equipment to take advantage of depreciation, or paying in a higher estimated tax payment now to avoid an unpleasant surprise later.

If it was a rough year, don't just move past it. Look at why it was a rough year and how to avoid that in the future. Talk with your accountant about carrying forward the losses and how to use that as an advantage going forward. Even a hard year has planning opportunities. You just have to know where to look.

The One Habit That Makes Next Tax Season Easier

If you want the single easiest thing you can do to set yourself up for a smoother year, do this: put it on the calendar.

Set a recurring reminder every year to schedule a meeting with your accountant to review your books and talk through tax planning strategies. I've seen how much smoother a year goes for clients who treat this as a standing appointment rather than something they get to eventually.

Looking Ahead to 2027

Q4 isn't just about closing out this year. It's also the best time to start thinking about next year. Start by revisiting what you already have in place.

Ask yourself whether your tax strategy actually worked in the prior year, or whether it needs to change to improve your outcome for 2027. I'd also encourage you to look at something a lot of business owners overlook: expenses. Drill into your bookkeeping and make sure your expenses still make sense. Are they still relevant, or do they need to be reevaluated to better align with your goals?

A strategy that made sense two or three years ago isn't automatically still the right one today.

Closing the Books Isn't the Same as Planning Ahead

I see this play out often: there's a real difference between wrapping up your books for the year and using that information to move forward.

Just closing the books doesn't set you up for success. If you're not analyzing the trends and paying attention to how your business is performing, it gets tricky to realign it with your goals.

That's really the heart of Q4 planning. It's not a compliance task to check off. It's your window to look at where your business stands and make decisions, about taxes, spending, and strategy, while you still have time to act on them.

Ready to Talk Strategy?

Every business's situation is a little different, and the right strategy depends on the specifics of your year. If you haven't had a planning conversation with your accountant yet this quarter, get one on the calendar now, before December 31st makes the decision for you.