How to Prepare Your Advisory Firm for Year-End Tax & Compliance Challenges and Start 2026 Strong

Year-end tax season shouldn’t catch you off guard. Advisory firms that prepare proactively avoid stress, fines, and client confusion.

1. Update internal financials
Reconcile books monthly, finalize expense categorizations, and prepare draft profit-and-loss reports early.

2. Coordinate with your CPA and custodians
Confirm reporting timelines for Form 1099s, K-1s, and firm-level filings. Early alignment prevents filing delays.

3. Verify tax withholdings and estimated payments
Ensure all quarterly payments are posted and staff W-2/1099 information is accurate.

4. Refresh compliance documentation
Cross-check firm policies against new regulatory guidance issued during 2025. Document updates before January 1.

5. Communicate proactively with clients
Send reminders about year-end tax-planning actions; including harvest losses, charitable giving, or retirement-plan contributions.

Conclusion
A calm, compliant tax season starts with year-end readiness.

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