As a business owner, you know that taxes can make or break your year. The decisions you make now can save money and prevent headaches next spring.
Most owners wait until December chaos, scrambling for receipts and invoices. That is leaving money and control on the table.
Here is what I am thinking about as November rolls in:
1. Check Payroll and Employee Taxes
Payroll is more than paying people. It is about staying compliant and avoiding surprises. Verify W-2s, 1099s, and withholding levels. Make sure any mid-year changes in your business or your life are reflected. Small mistakes here can turn into big headaches if ignored.
2. Plan With Your Advisor
Year-end planning is the time to go beyond routine check-ins. Look for available credits, assess audit risks, and lock in strategies that match your evolving business. Do not just skim the numbers. Challenge them, explore options, and make intentional decisions. Working with a CPA Pasadena TX ensures your planning aligns with your business and personal goals.
3. Confirm or Challenge Your Entity Structure
Your S-Corp, C-Corp, or LLC made sense when you started. But is it still right for your growth, cash flow, and tax goals? Small adjustments now, like reviewing income distribution or revisiting elections, can improve deductions, reduce your tax rate, and give you more flexibility for retirement planning.
4. Get Your Books and Records in Order
I have seen CEOs lose deductions because their books were full of errors, invoices were missing, or receipts were scattered. For taxes, messy accounting is a real liability. Every expense should be recorded correctly, categorized, and supported by documentation. Proper Houston bookkeeping gives you confidence and makes your tax position defensible.
5. Use Cash Flow Strategically
You control cash flow, and you can use it to strengthen your business while optimizing taxes. Consider accelerating purchases like equipment or technology upgrades. With 100% bonus depreciation available in 2025, these investments can be fully expensed this year, reducing taxes and improving operations. Timing purchases and deferring non-critical income should balance business needs and tax efficiency.
6. Maximize Retirement Contributions
Your Solo 401(k), SEP IRA, or other plan is more than a benefit—it is a tool. Fully fund it before December 31 to defer taxes, lower your current liability, and build wealth for you and your team. Treat contributions like a business decision, not just a formality. Engaging a small business CPA Houston can help ensure you are funding plans correctly and capturing every potential benefit.
A Practical 6-Step November Tax Checklist for CEOs
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Confirm Your Entity and Tax Forms. Make sure your business type still matches your goals and know the filing requirements.
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Organize Documentation. Gather income, expenses, payroll, asset purchases, and prior returns. Keep it audit-ready.
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Accelerate Deductions and Defer Income. Take advantage of year-end purchases and manage revenue timing.
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Maximize Retirement Contributions. Fund Solo 401(k)s, SEPs, or other plans fully to reduce 2025 taxable income.
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Verify Payroll and Employee Taxes. Check W-2s, 1099s, and W-4s. Adjust withholding if needed.
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Schedule a Year-End Review With Your CPA. Finalize credits, confirm compliance, and lock in strategies for next year.
The point is simple. Taxes are a tool, not just a form to file. Acting intentionally now gives you control, clarity, and cash for the year ahead. Waiting until the last minute means missed deductions, lost opportunities, and unnecessary stress.
