--- title: Year-End Tax Planning description: Some of these tips help you to save time and money, while others help you avoid costly penalties and interest on both federal and state taxes. --- [![InsognaLogoSite2020](https://media.insognacpa.com/hs-fs/hubfs/InsognaLogoSite2020.png?width=350&height=75&name=InsognaLogoSite2020.png "InsognaLogoSite2020")](https://media.insognacpa.com/?hsLang=en) [Why Us](https://insognacpa.com/why-us) | [Business Accounting](https://insognacpa.com/business-accounting) | [Fractional CFO](https://insognacpa.com/fractional-cfo) | [Minimizing Taxes](https://insognacpa.com/tax-strategy/) [Building Wealth](https://insognacpa.com/building-wealth) | [Learning Center ](https://insognacpa.com/learning-center)| [Contact Us](https://media.insognacpa.com/contact-us?hsLang=en) # The Business Owner’s Guide to Year-End Tax Planning ## Plan for this year and toward the future of your business. *"Yes. Taxes are a colossal expense for most businesses and individuals. But they’re also one of the best ways for you to save money and grow your wealth. And with the right experts, it’s an effortless experience." - Chase Insogna, CPA* At year-end and looking ahead, individuals and businesses need to incorporate traditional, as well as innovative, strategies into year-end planning. In this document, we’ll talk about practices business owners should consider as they plan for year-end, including: - What's the best business formation setup to maximize tax savings? - Do I need to pay myself a W2 salary by December 31? - How can I maximize tax savings using my retirement account? - Should I buy equipment before year-end? - Did you sell anything online in 2021? - How does my company's accounting method impact its bottom line? - What do I need to know about paying a bonus to myself or employees? - What are some year-end tax planning strategies I should know? ![business man 500x900](https://media.insognacpa.com/hs-fs/hubfs/business%20man%20500x900.png?width=500&height=900&name=business%20man%20500x900.png "business man 500x900") --- ### Download Our Guide Insogna, CPA | 2021 - 2025