Year-End Tax-Planning Checklist

Update the income and payment projection

• Recent pay statements, withholding, bonuses, and retirement distributions
• Year-to-date business and rental profit with expected remaining activity
• Investment income, realized gains and losses, and significant pending transactions
• Federal and state estimated-tax payments with confirmation dates
• Prior-year return, carryforwards, and major changes in family or filing status

Review records before deciding on transactions

Tax treatment depends on timing, eligibility, ownership, business purpose, and documentation. Gather support before a purchase, distribution, payroll adjustment, retirement contribution, charitable gift, or property transaction rather than assuming a year-end payment creates the intended result.

For a business, reconcile bookkeeping, payroll, owner payments, fixed assets, loans, and contractor information. For a rental, update income, expenses, improvements, personal-use days, and the depreciation schedule.

Finish with a filing-readiness list

List expected Forms W-2, 1099, K-1, brokerage statements, closing statements, and other third-party documents. Confirm addresses, entity details, bank information, and access to the secure portal.

Deadlines, contribution limits, and tax rules change. Check current IRS and state guidance for the year involved, and do not delay an estimated payment or required filing while waiting for every year-end form.