Create a Financial Summary Document

If you are already behind on your taxes in January, there are four tax tasks you cannot skip.

In this episode, we break down the four financial tasks every business owner needs to complete in January to start 2026 clean and organized. Mike explains why unfinished bookkeeping leads to missed deductions and unnecessary stress, how to properly review your financials, and why most tax issues begin long before filing season.

We also cover the importance of creating a simple financial summary document, meeting the January 31 1099 deadline, and building a proactive tax plan early in the year instead of scrambling in December.

If you want 2026 to be more profitable and less stressful, this episode shows you exactly where to start.

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Chapters

(00:37) Close Out 2025 Before You Move Forward
Why unfinished bookkeeping follows you into the new year.

(01:00) How to Review Your Books the Right Way
What to check in your income statement and balance sheet for accuracy.

(02:55) How to Organize Tax Documents Properly
Why storing receipts and records now saves stress later.

(03:50) The Financial Summary Document Every Owner Needs
A simple snapshot that shows assets, liabilities, and insurance in one place.

(06:36) Why Advisors Love This One Document
How it leads to better advice, faster decisions, and smarter planning.

(08:00) The January 31 1099 Deadline
Who needs a 1099, who does not, and what payments count.

(11:07) Implementing Tax Strategies Throughout the Year
Why spreading strategies across the calendar leads to real savings.

(13:24) The Bottom Line for a Strong 2026
Clean books, clear visibility, timely filings, and a tax plan that works.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
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🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.