The weeks before the holidays are packed: year-end work, staff schedules, and planning for next year. That’s exactly why tax prep gets pushed off—and why it feels so painful in January.

This checklist is written in plain English and starts with simple things you can do right now, without digging through “core financial records” or speaking accountant. Work through it step by step, and you’ll make tax season much easier on yourself (and your CPA).

1. Gather Your Business Expense Proof

Start with the stuff you already know: what you spent.

Pull together anything that supports money going out of the business:

  • Receipts for business purchases
    Make sure they are stored and saved, please download them from your email
  • Mileage records
    A log, spreadsheet, or download from your mileage app.

2. Clean Up Payroll & Contractor Details

If you pay people, tax time goes smoother when their info is ready before January

Collect and double-check:

  • Year-to-date payroll reports from your payroll system (for the full year)
  • Employee information
    Names, addresses, and Social Security numbers for anyone on payroll
  • Service and repairs contractors, etc.
    Make sure you have:
    • Names or business names
    • Addresses
    • Amounts paid during the year
    • Tax ID numbers (if you collect them)

Catching errors in names, addresses, and totals now is much easier than fixing tax forms later.

3. Review Big Purchases and Equipment

Next, look at the larger items you bought or got rid of during the year.

Make a simple list of:

  • Things you bought that will last more than a year (over $2500 purchase price)
    Examples: equipment, computers, machinery, furniture, vehicles, major tools.
  • Things you sold, traded in, or tossed
    Note what you sold, when, and how much you received (if anything).

If your accountant tracks how much of these costs are written off each year, keep any:

  • Prior equipment or fixed asset lists
  • Notes from last year about how those items were being deducted

A basic spreadsheet or written list is enough—don’t stress about formatting.

4. Note Any Ownership or Address Changes

If anything about who owns the business or where it’s located changed this year, your tax return needs to reflect that.

Gather and summarize:

  • Changes in owners or partners
    • Who joined or left
    • What percentage they own now
    • Effective dates of those changes
  • Updated agreements
    • Operating agreement or partnership agreement
    • Any buy-in or buy-out paperwork
  • Business name or address changes
    • New address
    • Any “doing business as” (DBA) updates

You don’t have to rewrite the legal documents—just make sure they’re easy to find and you can explain what changed in simple terms.

5. Finish Strong: Bank and Loan Reconciliations

Once your receipts, payroll, and ownership details are in good shape, finish with your money accounts. This step helps your accountant trust the numbers on your tax return.

Do this for each bank, credit card, and loan account used for the business:

  1. Download year-end bank and credit card statements
    • Make sure you have statements through at least December.
  2. Confirm your books match the statements
    • In your accounting software (or spreadsheet), check that the ending balance matches the statement.
    • If it doesn’t, note any differences (missing transactions, duplicates, bank fees, etc.).
  3. Gather loan statements
    • Year-end balance for each loan
    • Total interest paid during the year (if shown)
    • Any new loans or loans paid off this year

You don’t need to do deep accounting work—just make sure nothing is obviously missing or way off. Clear bank and loan records are one of the biggest time-savers for tax prep.

Book Your Tax Planning Talk Before the Rush

When you handle these items before the holiday rush, you:

  • Spot missing documents early
  • Give your accountant time to help you
  • Get a better estimate of what you’ll owe
  • Have time to make any last-minute adjustments before year-end

If you wait until January next year, you’re competing with every other business owner for the same appointment slots. No one wants to be left behind doing all the rush.

If you’d like help organizing your books, understanding what’s deductible, or planning your tax strategy for 2026:

Contact David Oase, CPA today to schedule your year-end review.