December 31 is more than a date on the calendar — it’s a hard line for many tax and financial deadlines. If you’re a business owner in Woodland Hills or anywhere in Los Angeles, there are tasks to prioritize.

Many business owners think tax planning happens in April. The truth?
By April, the year is over and your options are limited.

December is when strategic tax planning can save you thousands.

The final month of the year is the most important one for bookkeeping. Whether you're running a retail shop, a contracting business, or a service firm in Woodland Hills, now is the time to clean up your books.

As the end of the year approaches in Woodland Hills and the San Fernando Valley, small business owners still have time to make strategic financial moves that can significantly reduce their tax bill. Here are five last-minute deductions you can take advantage of before December 31 hits.

How to Get Ready for December 31 Like a Pro

As the end of the year approaches, small business owners across Woodland Hills, the San Fernando Valley, and Los Angeles are wrapping up more than just gifts — they're closing out the books.

If you have employees or contractors, December is one of your busiest compliance months. Business owners in Woodland Hills and the San Fernando Valley can avoid January stress with this simple year-end payroll checklist.

If you’re like most business owners in Woodland Hills, Encino, Calabasas, or anywhere in the San Fernando Valley, tax time probably isn’t your favorite time of year.
But here’s the truth: Tax season doesn’t have to be stressful — if you plan for it properly.

Are you a business owner in Woodland Hills, the San Fernando Valley, or greater Los Angeles looking for dependable accounting support you can actually understand? You’re not alone. Most entrepreneurs aren’t just looking for someone to “do the books”—they want clear insights, proactive guidance, and someone who picks up the phone.

According to the IRS, over 9 million Americans fail to file their taxes on time each year—and many business owners fall into this trap due to disorganized or outdated bookkeeping. If you're feeling overwhelmed by messy books and unfiled returns, you're not alone.

The IRS didn’t raise tax rates in 2025—they’re still the same seven marginal rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. What changed? The income thresholds got bumped up to account for inflation, helping prevent “bracket creep”—where inflation pushes you into a higher tax bracket despite no real increase in spending power.

If you haven’t been following closely, the One Big Beautiful Bill Act (OBBBA) is a sweeping budget reconciliation law signed on July 4, 2025, covering tax reform, spending, healthcare, immigration, defense, and more. In political terms, it’s the modern-day omnibus — a single massive law with far-reaching effects.