Year End Wrap Up: Tax Planning for Business Owners

by | Nov 4, 2024 | Tax

Ending your year right for your business, and tips to improve tax planning strategies.

When it comes to owning your own business, it can be very time consuming and difficult to stop and think about your upcoming tax return. It is always more advantageous to plan ahead and tie up loose ends before the end of the year. The top three things we recommend any business owner does before closing out the end of the year are:

  • catching up your bookkeeping
  • scheduling a tax planning meeting
  • taking a deep look at your income and expenses

 Catching up your bookkeeping is crucial to a successful business. Without maintaining it, it is hard to accurately plan or take advantage of any potential tax savings when you do not know where your income actually stands. Maintaining your books allows you to see how much you have earned and how much you have spent. When you look at your income you should also be looking at how much you are charging your customers and see if price increases are needed. Without maintaining proper bookkeeping you are missing out on many tax savings advantages you could potentially use.

 Do you need help with your books? Call Senter CPA.

Always remember, Senter, CPA is here for you if you need any assistance.

Don't hesitate to give us a call at 248-934-0550, or contact us below.

2025 Wine & Whiskey Tasting

Seven reasons to attend the 2025 Rotary Club of Clarkston Annual Wine & Whiskey Tasting!

Should You Consider a Qualified Charitable Distribution (QCD) From Your IRA? Pros and Cons for 2025

If you’re age 70½ or older and have a traditional IRA, you may have heard about Qualified Charitable Distributions (QCDs) as a way to support your favorite charities while potentially reducing your tax bill. With recent changes in the law, including new options for split-interest entities and inflation adjustments to QCD limits, it’s a good time to review the benefits and drawbacks of this strategy.

Why and How We Assign Our Team to Your Account

At Senter CPA, we believe that great accounting isn’t just about numbers—it’s about relationships, communication, and expertise you can rely on. One of the questions we’re often asked is: “How do you decide who works on my account?” We love this question because it shows that clients value the people behind the work. So, here’s a look at why we assign the way we do, and how that benefits you directly.

Year-End Reminders from Your Senter CPA Team

At Senter CPA, we see firsthand how quickly the end of the year sneaks up on all of us. To make sure you’re all set up for success, here are the most important things to keep on your radar between now and December.

How to Pay Your Invoice on TaxDome

Paying your invoice has never been easier thanks to our secure client portal, TaxDome.

How TaxDome Keeps Your Files Safe

We know it can feel a little nerve-wracking uploading sensitive documents online especially when it comes to taxes. TaxDome’s secure portal is made to make your life easier and safer.

Mastering the TaxDome Client Portal

Now that you’re all set up with your TaxDome portal (woohoo!), let’s talk about what happens next.

We’re Hiring: Rockstar Bookkeeper – Client Accounting Services

At Senter CPA, we don’t just keep the books—we keep small businesses moving. We’re a tight-knit team that’s proudly powered by coffee, cloud tech, and a whole lot of care for the clients we serve.

We’ve been supporting entrepreneurs, family-run businesses, and community builders for years. But we don’t live in spreadsheets from 1997. We’re the kind of firm that automates what can be automated, embraces fresh tools, and dares to rethink what accounting support should feel like.

The One Big Beautiful Bill Act: What You Need to Know

The One Big Beautiful Bill Act (OBBBA), passed in 2025, is a major new law that changes a lot about taxes, health care, and more. Here’s a simple breakdown of what it means for individuals, families, and businesses.

Senter CPA 2025 Pricing Update

Growing With You—While Maintaining Excellence and Security