Clarity. Tidy Books. Confidence for the year ahead.

1. Money Mindset: Three Juicy Year-End Reflections

• What did money teach you this year?
  What aha moment or gentle revelation did your money provide?

• Where did your business truly support your life?
  Revisit your personal financial needs and update your “Personal Number” for 2026.

• What intention do you want to feel in your finances next year?
  Choose one word that sets the tone: flow, steadiness, expansion — you choose!

2. Bookkeeping Close-Out Essentials

Reconciliation + Money

• Reconcile all bank accounts, credit cards and lines of credit through 12/31.

• Reconcile payment processors (Stripe, Square, PayPal, Shopify).

• Clear or correct Undeposited Funds balance (if you use Quickbooks Online).

• Review loan balances and interest paid. Be sure these align to your Balance Sheet.

• Collect any outstanding receivables (money clients owe you!)

Chart of Accounts + Categorization

• Confirm expense categories follow IRS/Schedule C or S-Corp reporting.

• Clean up duplicate or unused accounts.

Financial Reports Review

• Run and review your Profit and Loss for accuracy.

• Run and review your Balance Sheet (loan balances, assets, owner draw/distributions).

• Update your Cash Flow Projection for the next 12 months.

Payroll + Contractors

• Verify all payroll tax filings through year-end (Federal, NM Withholding, NMDWS). Even if you use a service, payroll provider or bookkeeper. It’s your duty to make sure all filings have been submitted and taxes have been paid.

• Review final payroll reports for accuracy.

• Collect W-9s from all contractors who may receive a 1099-NEC or 1099-MISC (your landlord + attorney need the appropriate 1099!)
  (Actual 1099 creation happens in January, but prep belongs here.)

Digital Paper Trail

• Store receipts and documentation in your bookkeeping system or a lo-fi system of folders/envelopes.

• Save bank statements, loan statements, and payroll reports in one folder.

3. Year-End Tax Prep Foundations

Gather Documentation You Already Have

• Bank and credit card statements

• Loan statements showing interest paid

• Health insurance premiums (self + employees, if applicable)

• Retirement contributions made during the year

• Invoices for asset purchases and equipment

• Mileage log or business use percentage for vehicles

Prep for What Comes in January

• 1099-K (from Stripe, Square, PayPal, etc.)

• 1099-NEC forms for contractors; 1099-MISC for others

• W-2s from payroll providers

• Final year-end payroll tax reports

• Mortgage/rent summaries and utility payments if they apply to home office calculations

New Mexico-Specific

• Confirm GRT filings reconcile to your year-end gross revenue

• Verify NTTCs were issued or applied correctly.

• Check NM Withholding summaries in TAP.

• Review NMDWS wage reports for accuracy.

Tax Strategy Touchpoints

• Review year-end income to anticipate possible tax liability.

• Determine whether a final retirement contribution (if eligible) is helpful.

• Confirm asset purchases are correctly classified for deduction rules.

4. Strategic Business Look-Back

Revenue Rhythm

• Identify your top revenue generators.

• Identify offers or clients that drained capacity.

Operational Ease

• List the systems that saved time.

• List the tasks to automate or delegate in 2026.

• Determine which recurring subscriptions still make sense for your business.

2026 Q1 (January-March) Focus:

• Build a Simple Sales Pipeline
  Know where your customers are coming from and how you stay in touch with them.
  A steady business comes from a steady flow of people who know what you offer and how to work with you.

• Stay Consistent with Your Money Tracking
  Pick one rhythm and stick with it: weekly check-ins, clean books, clear receipts, and up-to-date reports.
  When you track your money regularly, you make stronger decisions and stress less.

• Use Tools That Make Your Life Easier
  Choose technology that helps you sell, get paid, and stay organized.
  If a tool doesn’t save you time or bring in money, it’s clutter. Keep what supports your flow.

5. You’ve got this

Choose your favorite guiding thought for 2026 (or create your own!)

• I am not behind. I am building my business in a way that honors my life, my energy and my values.

• My numbers tell a story, and I have the power to shape the next chapter with clarity and confidence.

• I trust my intuition, my skill and my lived experience. I am exactly where I need to be to grow in 2026.