Summary of What This Blog Covers:
- Six smart, year-end tax moves for women business owners
- Actionable steps to boost clarity and reduce taxes
- The power of personal, all-in-one CPA support
- How Insogna helps women finish the year strong
As a woman entrepreneur, you’re doing more than managing day-to-day operations. You’re building something meaningful. You’re creating opportunities, generating wealth, and shaping the life you want. And that kind of intentional leadership deserves equally thoughtful financial planning.
With the end of the year in sight, this is your opportunity to step back, reassess, and make proactive choices that protect your profits and support your future. At Insogna, a firm with proactive women CPAs in Austin, Texas, we work with women like you (founders, CEOs, and creatives) who want their tax strategy to work as hard as they do.
Let’s explore six smart, strategic financial moves you can make before December 31 to lower your tax bill, maximize your savings, and enter the new year with clarity.
1. Reevaluate Your S-Corp Salary
If your business is taxed as an S corporation, your salary isn’t just a number, it’s a key part of your tax efficiency. One of the biggest opportunities (and risks) for S-Corp owners is how much you pay yourself.
The IRS requires you to pay a reasonable salary before taking any distributions. But what’s “reasonable”? That depends on your role, industry, income, and growth stage.
Here’s what we look at when advising clients:
- Your job responsibilities and hours worked
- Industry salary benchmarks
- Profitability and cash flow of your business
- Your personal income goals and lifestyle needs
Getting this right helps you:
- Avoid IRS scrutiny for underpaying
- Reduce payroll tax liability if you’re overpaying
- Maintain proper documentation on Form 1120-S, W-2s, and your Form 1040
If you’re not sure your salary is in the right range, now is the time to check. At Insogna, we offer complimentary salary reviews as part of our year-end planning sessions.
2. Maximize Your Retirement Contributions
Retirement planning doesn’t have to wait until “someday.” For women business owners, especially those who are self-employed or operating under an S-Corp or LLC, making strategic retirement contributions before year-end can unlock meaningful tax advantages and long-term financial stability.
You may be eligible for:
- A Solo 401(k): In 2025, you can contribute up to $23,000 in employee deferrals (or $30,500 if you’re age 50 or older), plus employer contributions up to 25% of compensation, for a combined total of up to $69,000 (or $76,500 with catch-up contributions).
- A SEP IRA: You can contribute up to 25% of your net earnings from self-employment, up to a maximum of $69,000 for 2025.
These plans are powerful tools to:
- Reduce your taxable income
- Build wealth outside your business
- Align your retirement savings with your overall financial strategy
A certified public accountant near you like our team at Insogna can help you identify which retirement plan fits best based on your income, entity structure, and long-term goals. With the right guidance, you can take advantage of these tax-saving opportunities while also securing your financial future.
3. Make Strategic Business Purchases
If you’ve been putting off big expenses like software, equipment, or professional development, consider whether investing before year-end could benefit your tax position.
Purchases made before December 31 may qualify for:
- Section 179 deductions, allowing you to deduct the full cost of qualifying assets in the current tax year
- Bonus depreciation, especially useful for large capital purchases
- Full expense deductibility if used exclusively for business purposes
This isn’t about buying things just to lower your tax bill. It’s about spending strategically on assets that support your business growth and align with your plan.
Work with a small business CPA in Austin to run the numbers and make sure you’re capturing every deduction available to you.
4. Prepare Early for Contractor 1099s
If you’ve hired freelancers or independent contractors this year, you’ll likely need to file 1099 NEC forms in January. But starting now can make the process faster and more accurate.
Here’s your checklist:
- Make sure you’ve collected and stored up-to-date W9 forms from every contractor
- Review your payment records (including those made via ACH, check, or direct deposit with platforms like PayPal may not count)
- Work with your tax preparation services near you to generate and file forms in time
Missing this deadline can result in IRS penalties, but even more importantly it’s one less thing to worry about in January.
At Insogna, we take care of this process for our clients, making sure everything is accurate, filed, and done on time.
5. Run a Year-End Tax Projection
Want to avoid tax season surprises? Then don’t wait until January to ask your CPA what you owe.
Running a year-end tax projection before December 31 allows you to:
- Plan your Q4 estimated payments with accuracy
- Adjust compensation, contributions, or deductions while there’s still time
- Understand how personal events (like selling a home, making an investment, or adding a dependent) affect your tax position
We regularly help clients navigate questions like:
- Should I defer income into next year?
- Is this the right year to sell stock or property?
- Can I take advantage of capital gains tax exclusions?
The key is working with a tax advisor near you who knows your business and your personal picture not just a generic calculator or seasonal preparer.
6. Review Your Bookkeeping and Financials With Fresh Eyes
It’s easy to let bookkeeping become an afterthought, especially when you’re wearing so many hats. But accurate, up-to-date books aren’t just for tax season. They’re the foundation for smart business decisions.
Before year-end, take time to:
- Reconcile your bank and credit card accounts
- Clean up uncategorized expenses or misclassifications
- Ensure your accounting software (like QuickBooks) is updated
At Insogna, we help clients who’ve been searching for a “CPA near them” or “Austin accounting services” and are ready to get serious about their numbers. Whether you have a bookkeeper or you’re managing it yourself, we help you clean, organize, and prepare everything for your tax return and your growth goals.
Bonus Tip: Coordinate With One Trusted Tax Partner
If you have one person handling your business taxes, another filing your personal return, and a third giving you investment advice—chances are, you’re not getting a fully coordinated plan.
We offer a more cohesive approach. At Insogna, we manage both personal and business tax strategy under one roof so you’re not the middlewoman between your advisors.
This gives you:
- One place for everything: Form 1040, Form 1120-S, W-2s, and more
- Strategic planning that looks at your whole financial life
- A partner who helps you grow, not just file
If you’ve been searching for “tax preparation services near you” or “certified CPA near you” and are tired of juggling disconnected advice, we’re here to simplify it all.
Let’s Close the Year With Strategy, Not Scramble
As a business owner, every financial decision you make reflects your values and your vision. So as the year ends, give yourself the gift of strategy because the best time to make a smart move is before the deadline passes.
At Insogna, we help women entrepreneurs:
- Calibrate their S-Corp salary
- Maximize retirement savings
- Capture every legal deduction
- File 1099s, W-2s, and other IRS forms accurately
- Review and improve their financial systems for the year ahead
Our team of chartered public accountants, taxation accountants, and licensed CPAs is ready to support you not just with compliance, but with clarity.
Whether you’re a service-based business, creative firm, or scaling startup, we specialize in working with Austin small business owners and founders across the country who want personalized support with year-end tax planning.
Ready to make smarter moves this season?
Schedule your year-end planning session with Insogna today.
You’ve already put in the work this year. Let’s make sure your tax strategy reflects that and sets you up for even more success in the year ahead. We’re here to walk with you, every step of the way.