Tax Prep Starts NOW: What You Can Do in November to Save Stress (and Money) Later
If you wait until January (or worse, April) to start thinking about taxes, you’re not alone — but you’re definitely setting yourself up for a stressful scramble.
The truth is, smart tax prep starts in November.
A few small steps now can save you time, money, and serious headaches when tax season hits.
Here’s what you can do this month to get ahead — and make filing way easier (and less expensive) later.
1. Get Your Books Caught Up
If your bookkeeping has fallen a little behind (no judgment — it happens!), now’s the time to catch up.
Make sure all your income and expenses are recorded
Reconcile your bank and credit card statements
Categorize transactions properly (especially things like meals, travel, and home office expenses)
The cleaner your books are, the smoother your tax filing will be.
(And if it feels overwhelming, this is a perfect time to bring in a bookkeeper 👋 to help.)
2. Double-Check Your Estimated Tax Payments
If you’re self-employed or an owner of an LLC or S-Corp, you’re probably making quarterly estimated tax payments.
November is a great time to double-check:
Are you on track with what you’ve paid in?
Might you owe a little more based on how your year has gone?
Should you adjust your final January payment to avoid underpayment penalties?
A quick check-in with your accountant or bookkeeper now can save you from a nasty surprise later.
3. Maximize Year-End Deductions
There’s still time to make strategic moves that could lower your taxable income for the year.
Think about:
Purchasing needed equipment or software before December 31
Paying for memberships, subscriptions, or training now instead of next year
Stocking up on supplies you know you’ll use early next year
(Always make sure your purchases make good business sense — no need to spend money just to chase a deduction.)
4. Review Your Payroll and Contractor Payments
If you have employees or pay independent contractors, you’ll need to issue W-2s or 1099s after year-end.
Do this now:
Confirm that you have current addresses, W-9s, and tax IDs for all contractors
Review your payroll reports to make sure everything looks correct
Identify anyone who needs a 1099 (generally non-employees you paid $600+ during the year)
Trust me — it's so much easier to fix issues now than to realize in January you’re missing key info!
5. Start a "Tax Prep" Folder
It sounds simple — but having a designated spot (digital or physical) where you stash tax-related documents saves so much time later.
Tuck in:
End-of-year bank statements
Loan documents
Receipts for large purchases
Donation receipts
Anything your tax preparer might ask for
By January, you’ll be patting yourself on the back for being so organized.
Final Thought: A Little Effort Now = A Lot Less Stress Later
Nobody loves tax season — but it doesn’t have to be scary or overwhelming.
Starting your prep in November gives you time to make smart moves, fix little mistakes, and walk into January feeling calm and confident (instead of panicked and buried in paperwork).