The beginning of the year is the perfect time for small business owners to get organized, review finances, and plan ahead. Taking a few proactive steps now can save headaches later and help set your business up for success in 2026.
1. Organize Your Financial Records
Start by gathering your 2025 financial documents, including:
- Income and expense records
- Bank and credit card statements
- Payroll and contractor payments
- Tax forms such as W-2s and 1099s
2. Plan for Taxes and Key Deadlines
Take time to review your tax obligations for the year:
- Check if you need to make quarterly estimated payments
- Review deductions and credits that apply to you and your business
- Update your payroll filings and ensure your employee documentation is complete
3. Set Goals and Review Your Business Plan
The start of the year is also a good time to reflect on your business performance and set goals:
- Review last year’s sales, expenses, and profitability
- Identify areas for growth or improvement
- Plan upcoming projects, marketing campaigns, or expansions
Keeping your records organized now makes tax preparation, budgeting, and financial decision-making much smoother. Staying proactive now frees up time and energy to focus on growing your business.