Year End Tax Review: The Smartest Hour a Business Owner Can Spend Before December 31
As the year closes, business owners and self employed professionals like yourself still have time to make decisions that influence both their tax bill and their cash flow. A year end review is where owners uncover planning opportunities, fix issues before they grow, and align their business and personal tax strategy while there is still room to act.
Most tax season meetings simply report the past. A year end review shapes the outcome.
Hill Durnin CPAs is offering year end planning sessions for business owners and individuals who want clarity and control before the calendar resets.
What Every Owner Should Address Before December 31
Have you aligned your business and personal tax strategy?
If your business return and your 1040 are handled separately, you are likely missing opportunities. A coordinated review ensures your salary, distributions, deductions, and estimated taxes work together.
Is your S corporation salary on target?
Too low increases IRS scrutiny. Too high increases your tax bill. Adjusting now can prevent problems later.
Did your income change this year?
Consulting spikes, real estate commissions, medical practice growth, severance, bonuses, K1 income, or multi state earnings can all throw off your current tax position. A year end estimate protects you from unnecessary penalties and surprise balances.
Did you sell stock, crypto, real estate, or a business asset?
Large gains may require an adjustment. Large losses may create planning opportunities. Waiting until tax season leaves money on the table.
Are your books accurate enough to close the year cleanly?
A December cleanup prevents extended filings, IRS questions, and confusion during tax season.
Should you increase or finalize retirement contributions?
Owner retirement plans can reduce taxable income, strengthen cash flow planning, and support long term goals when reviewed before year end.
Why This Matters More Than Most Owners Realize
Once December passes, strategic options shrink. You cannot retroactively adjust salary, fix certain bookkeeping gaps, capture missed deductions, or take advantage of planning opportunities that close on the last day of the year. A short conversation now often protects thousands later.
What Makes a Hill Durnin Year End Review Different
Many CPAs offer year end reminders. Few take a truly integrated approach built for business owners. Here is what you gain with Hill Durnin:
One coordinated plan for both business and personal taxes
Direct access to a CPA who specializes in owner operated businesses and professionals
Clear guidance, not generic checklists
Identification of opportunities most firms overlook
Fast, responsive support if questions or IRS notices arise
This is the type of review that changes outcomes rather than simply describing them.
Schedule Your Year End Review
There is still time to adjust strategy, prevent surprises, and strengthen your upcoming tax season. Take one hour now and start the new year with clarity and confidence.
Contact Hill Durnin CPAs to reserve your session before availability fills.
Phone: (972) 248 1800
Website: HillDurninCPAs.com
Hill Durnin CPAs. Strategic planning for owners who want to stay ahead, not catch up.