As year-end approaches, the right moves made before December 31 can significantly reduce your tax liability. Here are the key strategies our team prioritizes for business owners at scale.
Review entity structure. Is your current entity still optimal for your revenue level and ownership goals? Year-end is the time to model alternatives — not January.
Accelerate deductions. Pre-pay deductible expenses where appropriate. Review timing of equipment purchases eligible for Section 179 or bonus depreciation.
Harvest losses. Review your investment portfolio for unrealized losses that can offset capital gains from other transactions.
Maximize retirement contributions. Ensure SEP-IRA, Solo 401(k), or defined benefit plan contributions are on track. Deadlines vary by entity type.
Review payroll elections. HSA contributions, health insurance, dependent care FSA — ensure all elections are optimized before the calendar year closes.
The strategies that matter most depend on your specific situation. This checklist is a starting point — not a substitute for personalized strategy from your Veridian advisor.