Because once December 31 hits, your options shrink fast. Most big tax-saving moves have to be made before the calendar flips.

A little strategy now can mean thousands less owed in April — and fewer nasty surprises.

Start with your profit projection. What’s your net income likely to be? If it’s higher than you expected, you might want to accelerate some deductions, defer income, or make big purchases now to lower your taxable profit.

If you genuinely need it — yes. Tools, computers, machinery, or even a vehicle can bring big deductions through Section 179 or bonus depreciation.

But don’t spend a dollar just to save 30 cents in tax. Smart year-end spending should help your business run better next year too.

Good move for S Corps — paying yourself a reasonable salary can help lock in compliance and boost your deduction for the year.

If you’ve underpaid yourself, catching up wages before December 31 can strengthen your tax position and help you maximize the QBI deduction.

Absolutely — funding a Solo 401(k) or SEP IRA can slash taxable income. Some plans have setup deadlines before year-end, even if you make contributions later.

The sooner you plan, the bigger the deduction window.

Many small businesses can prepay certain bills (like rent, insurance, or vendor services) and deduct them this year. It’s called the 12-month rule — as long as the expense benefits only the next 12 months or less, you can write it off now.

Double-check your reasonable salary and any shareholder health insurance premiums. Those can impact your QBI deduction and avoid red flags.

Also, make sure you’re reimbursing yourself for any legitimate out-of-pocket expenses you paid personally — clean books mean no missed write-offs.

Run the numbers before year-end. You may want to bump up estimated payments or increase your last payroll withholding to cut underpayment penalties.

Smart tax moves now keep you from scrambling next spring.