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Post-Tax Season Checklist for Small Business Owners

jrobertsonbookkeep
May 3
2 min read

Another tax year has come and gone, but don't close the books quite yet. What you decide to do after you file your taxes can have a deciding impact on the financial health of your business for 2026 (or any year, for that matter).


I like checklists, so here is a simple post-tax season checklist to stay organized, reduce stress, and set yourself up for smarter financial decisions moving forward.


1) REVIEW YOUR TAX RETURN

  • Look at your total tax liability

  • Identify any surprises (Did you owe more than you thought? Did you get a large refund you weren't expecting?)

  • Note any deductions you didn't maximize (or even missed altogether)


2) ADJUST ESTIMATED TAX PAYMENTS

  • Increase your payments if you owed money

  • Decrease if you overpaid significantly (speak to your CPA about this one, because you need to be careful!)

  • Base new estimates on current revenue trends

  • Whatever adjustments you make, be sure to revisit it sometime in the fall


3) CLEAN YOUR BOOKS!

  • Reconcile every account

  • Categorize anything uncoded

  • Fix any expenses that were misclassified

  • Take the time to separate your business and personal finances NOW if you have been dragging your feet


4) EVALUATE YOUR BUSINESS STRUCTURE (WITH YOUR CPA, OF COURSE)


  • How different would your taxes be if you were an LLC, or an S-Corp, or even a sole proprietor?

  • Are you paying more in self-employment tax than necessary?

  • Would a different election save you more money?


5) BUILD YOUR TAX STRATEGY FOR NEXT YEAR

  • Plan your deductions in advance

  • Track your mileage, home office, and other expenses religiously

  • Always consider the timing of your income and expenses


6) SET YOUR FINANCIAL GOALS FOR THE YEAR

  • Set a revenue target

  • Define your profit goals, and tie it back into the bookkeeping

  • Plan for any major expenses or investments that you are aware of


7) CREATE A ROUTINE AND STAY ORGANIZED

  • Store all your returns, receipts, and statements securely, and use cloud storage or accounting software whenever possible

  • Automate whenever possible, but NEVER rely on it

  • Work with a tax professional year-round, and make sure you have a bookkeeper to stay on top of everything


Here's to another stress free tax year! And for those that had stress, you need to reach out to me!

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