Year-end planning compares what you can still change before December 31 with what the year already looks like. The second half needs current numbers, so gather them first.
Your year so far
- Business books reconciled through the most recent month-end
- Year-to-date pay stubs, if you have wages, showing withholding
- Federal and New Jersey estimated payments made this year, with their dates
- Last year's returns, the starting point for most projections
What's changing
- Income expected for the rest of the year, and anything one-time: a large contract, a bonus or a sale
- Equipment or vehicle purchases you're considering, with expected dates
- Retirement-plan contributions made so far, and the type of plan
- Life changes such as marriage, a child, a move into or out of New Jersey, or a new business
The question
Write down the decision you're trying to make. "Should I buy the equipment in December or January?" gets a better answer than "How can I save tax?" Label any projected figure as a projection, so it isn't mistaken for a completed transaction.
Planning is its own scope
Return preparation covers the return. Planning before year-end is a separate written scope, agreed before the work starts; see tax planning and advisory. For the moves themselves, see the year-end tax guide and the year-end records checklist.
What happens next
Request a planning review through the contact form. Don't send pay stubs or statements there.
