Bymarialopez

Financial Statements and KPIs:

Do close your books cleanly and review KPIs (profit margin, debt ratios, owner's compensation) before January.

Don't wait for tax season to "find out" how your business did.

Tip: Use year-end numbers to set realistic 2026 goals and attract lenders or investors.

Gallant
Accountants and Advisors

Business Investment moves before year-end:

Do evaluate whether it makes sense to purchase equipment, software, or training now to take advantage of deductions.

Don't spend recklessly just for a write off - if it does not add ROI, it's wasted cash.

Tip: Align purchases with your 2026 growth goals, not just tax savings.

Gallant
Accountants and Advisors

Take a look at my new eBook: The CEOs Tax Playbook. Pick up on best practices for S corporation shareholders and tips on accounting and finance for your business. (Not CHAT GPT generated) LOL!

Follow the link:
www.leveragingfinancials.com/the-ultimate-ceo-tax-playbook

Maria M. Lopez, CPA, Tax Advisor
Gallant
Accountants and Advisors

As a business owner, I don't receive a paycheck from someone else's business. I fish my own food: I build and create my own products and services. As business owners and entrepreneurs, we pretty much realize the #1 business lesson which is that is King. AI, technology and marketing trends can come and go, but without #1 Sales (cash inflow) and #2 Capital, it is pretty much difficult to survive and to build a profitable and sustainable business. So, what is the magic sauce to create cash inflow, i.e. sales? TO BE CONTINUED.

Maria M. Lopez, CPA, Tax Advisor
Gallant
Accountants and Advisors

Accounts Receivable planning before year-end:
Follow up on outstanding invoices and tighten up collections before year-end.
Don't enter the new year with old unpaid receivables sitting in your books.
Tip: Offer early payment discounts or reminders now - don't let cash sit in your clients' accounts.

Gallant
Accountants and Advisors

Tax planning moves for year-end:

Do meet with your CPA to explore year-end tax strategies like accelerated depreciation, retirement plan contributions or charitable deductions.

Don't assume last year's tax strategies will work the same this year - laws and your numbers change.

Gallant
Accountants and Advisors

Cash flow and liquidity for small and medium size Businesses:

Do review your cash flow forecast for Q4 and identify gaps in liquidity. Don't wait until January to realize you are short of cash to cover payroll, vendors or taxes.

Build a 13-week cash flow projection to see your runway clearly.

Gallant
Accountants and Advisors

Yes, yes and yes. The 2025 Holiday season is coming up soon. But before it does, are you paying more taxes than you should? And how do you know? Have you considered a second view of your filed tax return by another CPA or tax advisor? Contact us for a proactive review of your personal and business tax returns.

Gallant Accountants and Advisors

For cash basis marketing agencies and IT services firms, as we approach year-end, a best practice to improve cash flow is to request rebates and discounts for early payments of software and services from vendors. This way you pay less than the actual price and claim the deduction in the current year.

Contact us for more best practices.
Gallant Accountants and Advisors

Improving the cash flow is critical for every business. One best practice is to shorten payment terms, e.g. net 15 instead of net 30. Also, one can use retainers or upfront deposits for long projects. And automate invoicing and reminders with accounting software.

Contact us for more business recommendations.
Gallant Accountants and Advisors

IT Service companies often provide different types of services and products. Are you classifying these separately in your monthly accounting and financials so that to measure the margins and profits per service/product type? Contact us so that together we can help manage and pivot the growth of your business.

Gallant Accountants and Advisors

Employee vs Contractor classification:
IT companies and marketing companies often hire freelance developers and designers, consultants and remote workers.

Have you evaluated whether they are independent contractors or employees? Contact us to help you with this assessment and avoid IRS penalties.

Gallant Accountants and Advisors