Most tax savings are won before December 31 — not when you file in April. The fourth quarter is your window to act. Here are the moves that make the biggest difference for Florida business owners.

1. Time your income and expenses

If you are a cash-basis business, you have some control over when income and expenses land. Deferring a December invoice to January, or prepaying a January expense in December, can shift income between tax years — useful when you expect a different bracket next year.

2. Buy needed equipment: Section 179 & bonus depreciation

Need a vehicle, computers, or equipment? Section 179 and bonus depreciation let you deduct much of the cost in the year you place the asset in service, instead of over many years. Buy what the business genuinely needs — a deduction is still a dollar spent.

3. Fund a retirement plan

A SEP-IRA or Solo 401(k) can shelter a large amount of profit while building your own savings. Contribution limits are generous for business owners, and some plans must be established before year-end even if funded later.

4. Revisit your entity and payroll

If you are an S-Corp, confirm your reasonable salary is on record and run any year-end bonus or payroll adjustments before the final payroll of the year. If you are still a default LLC with strong profit, ask whether an S-Corp election makes sense for next year.

5. Clean up your books now

Reconcile accounts, categorize transactions, and chase down missing receipts before the holidays. Clean books mean accurate deductions — and a far smoother, cheaper filing season.

6. Pay your Q4 estimate to avoid penalties

Underpaying estimated taxes triggers IRS penalties even if you pay in full by April. Review your year-to-date profit and make a correct fourth-quarter estimated payment.

Your year-end checklist