Before the Holidays Arrive: Smart Year-End Tax Planning with Howard Dagley, CPA
Finish 2026 Strong and Start 2027 with Greater Financial Confidence!
The holidays are approaching, and while most of us are thinking about family gatherings, Thanksgiving celebrations, and Christmas shopping, there’s another important item that deserves attention: your year-end tax planning.
At Howard Dagley, CPA, we help individuals, families, and business owners throughout Santa Clarita, the San Fernando Valley, and Los Angeles make informed financial decisions before the year comes to a close.
Whether you’re managing a growing business, preparing for retirement, or simply looking to avoid surprises when tax season arrives, October and November are excellent months to review your financial picture.
Why Tax Planning Before December 31 Matters
Waiting until tax season to think about taxes can mean missing opportunities that require action before the end of the calendar year.
Effective tax planning isn’t just about preparing a return. It’s about understanding your financial situation, identifying potential savings, and making decisions while there’s still time to act.
Here are several areas worth reviewing before 2026 ends.
1. Review Your Income and Tax Withholding
Have you experienced a salary increase, changed jobs, received a bonus, or started a side business this year?
Changes in income can affect your overall tax liability. Reviewing your withholding and estimated tax payments now may help prevent an unexpected balance due or potential underpayment penalties.
2. Business Owners: Evaluate Your Expenses and Deductions
For small business owners, year-end planning is especially important.
Reviewing equipment purchases, operating expenses, business deductions, and projected income can help identify opportunities to improve your tax position.
Depending on your circumstances, the timing of qualifying business purchases and expenses may make a difference.
Howard Dagley, CPA can help evaluate which strategies make sense for your particular business.
3. Consider Retirement Contributions
Retirement planning and tax planning often go hand in hand.
Contributions to eligible retirement accounts may provide tax advantages while helping you prepare for the future.
Contribution limits, eligibility requirements, and deadlines vary by account type, making it important to review your options before taking action.
4. Organize Your Financial Records Before the Holiday Rush
Good recordkeeping makes tax preparation easier and helps reduce unnecessary stress.
Now is a good time to organize business receipts, charitable contribution records, investment statements, income documentation, and other important financial information.
Business owners should also review their bookkeeping, reconcile accounts, and evaluate financial statements before closing out the year.
5. Understand Tax Law Changes That May Affect You
Tax rules, deductions, credits, and reporting requirements can change from year to year.
Recent federal tax legislation has introduced provisions that may affect individual taxpayers and business owners differently.
Rather than assuming last year’s tax strategy will produce the same results, consider scheduling a professional review to understand which provisions apply to your circumstances.
Small Business Success Starts with Smart Financial Planning
Running a business requires more than generating sales. It means understanding cash flow, managing expenses, maintaining accurate financial records, and planning for future growth.
Howard Dagley, CPA provides professional guidance in areas including:
- Individual and Business Tax Preparation
- Year-End Tax Planning and Tax Strategies
- Business Entity Selection and Startup Guidance
- Bookkeeping and Financial Statements
- Estimated Tax Planning
- Financial and Business Consulting
Whether you’re operating an established company or preparing to launch a new venture in 2027, having an experienced CPA on your side can make a meaningful difference.
Give Yourself One Less Thing to Worry About This Holiday Season
The holidays should be about spending time with the people who matter most, not worrying about financial surprises.
A little planning today can help create a smoother tax season tomorrow.
Don’t wait until January to discover what you could have addressed in October, November, or December.
Let Howard Dagley, CPA help you review your 2026 financial picture and prepare for the opportunities ahead.
Schedule Your Year-End Tax Review Today!
Ask Your CPA, Los Angeles – Santa Clarita & San Fernando Valleys – Howard Dagley, CPA: | 1-661-255-8627
Howard Dagley, CPA –Proudly serving individuals and businesses throughout Santa Clarita, the San Fernando Valley, and the greater Los Angeles area.
Plan Ahead. Make Informed Decisions. Enter 2027 with Confidence!