December 18, 2025

Your December 31 Deadline: What Business Owners Must Do Before the Year Ends

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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, here are the tasks to prioritize:

1. Run Year-End Inventory (if applicable)

Contractors, retailers, and manufacturers must get accurate counts.

2. Finalize Owner Compensation

Particularly important for S Corporations.

3. Review Business Insurance Coverage

Year-end is a natural time to review liability, workers comp, and health insurance.

4. Analyze Profit & Loss Trends

See what worked — and what should be adjusted for the new year.

5. Back Up Your Financial Records

Secure, cloud-based backups can save your business.

Closing out the year correctly sets the stage for a stronger, more profitable January.

We offer December consultations for businesses here in Woodland Hills, nearby cities like Calabasas, and the greater San Fernando Valley.

Shonty

Shonty Spatola, CPA, CFP®, is the founder and owner of Spatola & Company CPA, a small business accounting firm in Woodland Hills, California. For more than 17 years he has helped business owners across the San Fernando Valley and greater Los Angeles, including Encino, Calabasas, and Sherman Oaks, with proactive bookkeeping, tax planning, tax preparation, payroll, and outsourced CFO services. His firm has served over 2,000 small businesses and prepared more than 8,000 financial statements. Holding both CPA and CFP® designations, Shonty pairs day-to-day accounting with bigger-picture financial strategy so clients keep more of what they earn and plan ahead with confidence.