Your Small Business Year-End Checklist for 2026

The last few weeks of the year are your last chance to lower this year's tax bill and the best time to set up a smooth tax season. Work through this year-end checklist for small businesses in November and December, not in April.

Year-end checklist to get your books in order for small businesses

• Reconcile every bank and credit card account through December 31.

• Categorize all uncategorized transactions and attach missing receipts.

• Review accounts receivable. Follow up on late invoices, and talk to your tax preparer about writing off debts you truly can't collect.

• Count inventory at year-end if you carry products.

• Separate any personal expenses paid from business accounts (and vice versa).

Checklist to make smart moves before December 31

• Buy needed equipment now. Property placed in service by December 31 may be 100% deductible this year (IRS).

• Log your business miles. Total them at 72.5 cents per mile for 2026 (IRS).

• Fund retirement. Check deadlines for your plan; some must be set by year-end.

• Review your estimated tax payments so you're not surprised in April.

  
  

Checklist to prepare for January forms

• Collect a Form W-9 from every contractor you paid this year.

• Remember: for 2026 payments, you only send a 1099-NEC to contractors paid $2,000 or more (it was $600 for 2025) (IRS).

• Confirm employee names, addresses and Social Security numbers for W-2s.

• Set up free 1099 e-filing through the IRS Information Returns Intake System (IRIS) if you don't use payroll or accounting software. Filing 10 or more information returns in a year requires e-filing (IRS).

Key early-2027 deadlines

Date	What's due
Jan. 15, 2027	4th-quarter 2026 estimated tax payment
Feb. 1, 2027	W-2s to employees and the SSA; 1099-NEC to contractors and the IRS (Jan. 31 falls on a Sunday)
Mar. 15, 2027	Partnership and S corporation returns (Forms 1065 and 1120-S)
Apr. 15, 2027	Individual returns, including Schedule C, and C corporation returns (calendar year)

Dates move to the next business day when they fall on a weekend or holiday. Always confirm on the IRS tax calendar.

Let us handle your year-end close so January is calm, not chaotic. Book a year-end review today.

This post is for general information and is not tax advice.