Small business taxes are easier when the books are current before tax season. This calendar gives owners a simple operating rhythm for bookkeeping, tax planning, and document cleanup throughout the year.
Every month
- Reconcile business checking and credit card accounts.
- Save bank and credit card statements as PDFs.
- Review uncategorized transactions.
- Separate business and personal expenses.
- Save receipts for equipment, repairs, travel, meals, and owner reimbursements.
- Confirm customer invoices, deposits, and contractor payments are recorded.
Q1
Clean start and prior-year records.
- Close December books before sending tax records.
- Gather W-2s, 1099s, K-1s, brokerage forms, and mortgage forms.
- Review whether estimated tax payments need to change.
- Confirm payroll setup and owner compensation for the new year.
Q2
Mid-year visibility.
- Review year-to-date profit and cash flow.
- Compare owner draws, payroll, and tax withholdings.
- Check whether revenue or margins are materially different from last year.
- Update estimated tax projections if income changed.
Q3
Year-end planning window.
- Review projected taxable income before the year is almost over.
- Discuss retirement contributions, entity planning, and equipment timing with your CPA.
- Clean up old uncategorized transactions.
- Confirm contractor W-9 records before January 1099 deadlines.
Q4
Close readiness.
- Reconcile all accounts through year-end.
- Gather loan, merchant, payroll, and payment processor reports.
- Review accounts receivable and bad debts.
- Avoid waiting until tax season to ask planning questions.
When to call a CPA
Call before major decisions, not after. That includes starting a business, buying or selling real estate, changing payroll or owner compensation, hiring workers in another state, making large equipment purchases, receiving a large gain or settlement, or falling behind on bookkeeping or tax notices.
DIRECT CPA HELP
Need tax-ready books and a planning rhythm?
Alex Sears CPA LLC helps Katy and West Houston small business owners with bookkeeping, tax preparation, and proactive tax planning.