10 questions to answer before December 31, 2026, while decisions can still change your outcome.
| 1 | Do I know my projected 2026 taxable income, federal and state?A projection is the starting point for every year-end decision. | Yes No |
| 2 | Have my 2026 estimated payments and withholding kept pace with my income?The Q4 federal estimate is due January 15, 2027. | Yes No |
| 3 | Are my books current through at least October?A projection is only as good as the numbers behind it. | Yes No |
| 4 | If I own an S-corp, have I reviewed my salary vs. distributions before the final payroll?Owner compensation runs through payroll, which closes in December. | Yes N/A |
| 5 | Will planned equipment or vehicle purchases be placed in service by Dec 31?Ordered or paid for isn't enough; the asset must be in use. | Yes N/A |
| 6 | Have I checked whether my state's pass-through entity tax election applies to me?Many states offer one, and timing rules vary by state. | Yes N/A |
| 7 | Is a retirement plan in place, and do I know my contribution deadlines?Some plans must be established before year-end. | Yes No |
| 8 | Do I know whether I'll itemize or take the standard deduction for 2026?This drives charitable "bunching" and timing decisions. | Yes No |
| 9 | Have I reviewed capital gains, losses and any equity compensation for 2026?RSU vests and asset sales often under-withhold. | Yes N/A |
| 10 | Do I know how much cash to set aside for taxes in early 2027?Knowing the number now prevents a cash crunch in April. | Yes No |
Amounts are inflation-adjusted and some provisions are still receiving IRS guidance. Confirm how each applies to your facts with a qualified professional.
| 9–10 | Well prepared. Confirm your projection with your tax advisor. |
| 6–8 | Gaps to close. A few open items could change your 2026 outcome. |
| 0–5 | Act before Dec 31. You may be heading into filing season without knowing your number. |
This checklist is general educational information, not tax, legal or financial advice for your situation. Tax outcomes depend on your specific facts; projections are estimates and are not a guarantee of any result. TaxBooksCFO LLC provides tax planning, tax preparation, bookkeeping and fractional CFO services. 72-34 Queens Blvd, Woodside, NY 11377.