Summary of What This Blog Covers:
- Turn year-end planning into a growth strategy, not just a tax deadline
Discover how intentional decisions before December 31 like timing income and expenses, contributing to retirement, and optimizing deductions can reduce your tax burden and strengthen your financial foundation. - Maximize overlooked opportunities like tax credits and business entity updates
Learn how credits like the R&D Tax Credit and S Corp elections can result in meaningful savings, and why now is the time to reassess your compensation and structure with guidance from a licensed CPA. - Gain clarity with data-driven decisions from your P&L and expense tracking
Use your profit and loss statement as a strategic tool to spot inefficiencies, assess pricing, and align spending with long-term goals empowered by insight, not just instincts. - Work with a proactive CPA who understands women in business
Whether you’re self-employed, scaling a team, or managing multi-state operations, Insogna CPA helps you make confident, informed decisions not just at tax time, but all year long.
As a woman business owner, you’ve worked intentionally to grow something real. You’ve navigated challenges, celebrated wins, and made smart, strategic decisions that reflect your vision and values. Now, as the year draws to a close, there’s one more opportunity to consider: intentional year-end financial planning.
This isn’t just about checking boxes before December 31. It’s about aligning your financial decisions with the business you’ve built and the future you’re building toward.
At Insogna CPA, we’ve helped hundreds of women entrepreneurs across industries turn year-end from a tax deadline into a growth strategy. With the right approach, these final weeks of the year can strengthen your foundation, lower your tax bill, and open doors to a smoother, more profitable new year.
Below are the most powerful financial moves you can make right now—paired with insights from our team of trusted Austin, Texas CPAs, tax advisors, and accounting professionals.
1. Be Proactive with Year-End Spending
Before the year closes, take a moment to review what investments will best serve you now and reduce your taxable income.
Eligible deductions might include:
- Computers, monitors, and office equipment
- Professional memberships and certifications
- Software subscriptions or renewals
- Business travel and client gifts (within IRS limits)
- Marketing expenses, including paid ads or contractors
Many business owners don’t realize how much strategic year-end spending can move the needle when it comes to small business tax deductions. But timing matters. Those expenses need to be paid (not just incurred) by December 31 to count for the current tax year.
Make it work for you:
A conversation with a knowledgeable small business CPA in Austin can help clarify which purchases qualify, how much to spend, and what impact those expenses will have on your tax return. And if you’re searching for tax services near you that offer more than reactive support, this is where strategy begins.
2. Maximize Retirement Contributions
Retirement planning is one of the smartest ways to reduce your 2025 tax bill while building long-term wealth.
For 2025, contribution limits include:
- SEP IRA: Up to 25% of compensation, max $69,000
- Solo 401(k): Up to $69,000 (or $76,500 if 50+)
- IRA/Roth IRA: Up to $7,000 (or $8,000 if 50+)
Contribute before year-end to lower taxable income and keep more of what you’ve earned.
Make it work for you:
A trusted Austin tax accountant or licensed CPA near you can guide you on the best plan for your income and goals.
- Don’t Leave Tax Credits on the Table
Tax credits are some of the most underutilized opportunities for small businesses. Unlike deductions, which reduce your taxable income, tax credits reduce your tax bill directly dollar for dollar.
You may qualify for:
- R&D Tax Credit, even if you’re not in traditional “research” fields
- Work Opportunity Tax Credit, if you’ve hired eligible employees this year
- Energy-efficient property credits, if you upgraded lighting or HVAC in your business location
The best part? Some of these credits are refundable, meaning you could receive money back even if you don’t owe additional taxes.
Make it work for you:
An experienced CPA firm in Austin, Texas will know exactly how to assess your eligibility and maximize any applicable credits, ensuring you don’t miss a single opportunity.
4. Reevaluate Your Business Entity and Compensation Structure
Your business has evolved. Has your legal structure kept up?
If you’re still operating as a sole proprietor or an LLC taxed as a disregarded entity, you may be paying more in self-employment taxes than necessary. In many cases, electing to be taxed as an S Corporation can help reduce your overall tax burden.
Even if you’re already an S Corp, year-end is a good time to ask:
- Are you paying yourself a reasonable salary?
- Are you balancing distributions appropriately?
- Are you set up to meet IRS compliance requirements?
Make it work for you:
Our team of Austin, TX accountants regularly helps business owners reassess their structure to align with where their business is now, not just where it started. With guidance from a certified public accountant near you, you’ll be positioned for smarter growth.
5. Claim Home Office & Vehicle Deductions (Correctly)
Your home and vehicle might be some of your most valuable business tools especially if you’re working remotely or meeting clients offsite.
Eligible deductions may include:
- A portion of your rent or mortgage (if you use part of your home exclusively for business)
- Utilities, insurance, repairs, and internet
- Mileage and vehicle expenses tied to business use
The IRS allows either actual expense or simplified methods, and understanding which method works best for your situation can increase your deduction while minimizing audit risk.
Make it work for you:
Partnering with a tax accountant near you or an Austin small business accountant who understands IRS guidelines ensures your home office deduction is applied accurately, protecting both your deduction and your peace of mind.
6. Review Your Profit & Loss Statement with Purpose
You likely glance at your income, but year-end is the perfect time to dig deeper into your P&L statement.
Ask yourself:
- Where is my money actually going?
- Are there expense categories that grew too fast?
- Are profits aligned with projections?
- Is my pricing model still profitable?
This isn’t just good housekeeping. It’s key to stronger financial forecasting, smarter tax planning, and more focused growth next year.
Make it work for you:
A trusted Austin accounting firm can help translate your P&L data into real insights. We offer business performance reviews that highlight blind spots, opportunities, and the story your numbers are trying to tell.
7. Time Your Income and Expenses Thoughtfully
One of the most powerful tax planning tools is simply timing.
If you expect to earn more next year or move into a higher tax bracket, you may want to:
- Accelerate income (e.g., send invoices now to recognize revenue this year)
On the other hand, if you expect a slower first quarter or drop in profits, you might:
- Defer income to next year
- Accelerate expenses now to lower this year’s tax burden
This kind of tactical decision-making can result in significant savings, especially when done in collaboration with a proactive CPA.
Make it work for you:
Let a skilled CPA in Austin, Texas guide you through revenue and expense timing, so you minimize taxes and maximize cash flow heading into Q1.
Why Smart Women Work with Insogna CPA
At Insogna CPA, we work with women who don’t just want a tax return, they want a financial partner.
We serve:
- Female founders scaling service-based businesses
- Women executives seeking clarity around tax strategy
- Creatives, consultants, and coaches ready to align finances with purpose
- Self-employed professionals looking for a trusted CPA near them who understands the whole picture
Our boutique Austin CPA firm combines the expertise of a certified public accountant with the care of a thoughtful, strategic partner. We’re here to help you:
- Simplify complex financial decisions
- Reduce tax liability
- Build a business that’s not just profitable but sustainable and empowering
Whether you need tax preparation services near you, guidance with multi-state filings, or someone to make sense of your QuickBooks Self-Employed data, we’ve got you.
Let’s Wrap the Year With Intention and Step Into the Next One Ready
Financial clarity isn’t a luxury, it’s the foundation of long-term success. Year-end is your chance to make decisions that protect what you’ve built and prepare you for more.
If you’re ready to:
- Maximize tax deductions
- Optimize retirement and entity structure
- Identify blind spots in your financials
- Feel supported by a CPA who truly understands your world
Schedule your year-end strategy session with Insogna CPA today...