2026 Year-End Tax Planning Checklist for Flow-Through Businesses and Owners
Year-end planning for flow-through businesses requires a coordinated look at both the entity and owner level. From QBI and depreciation decisions to PTET elections, loss limitations, estimated taxes and succession planning, many of the most valuable tax-saving opportunities depend on actions taken before December 31. This checklist outlines key discussion areas and practical next steps to help business owners evaluate their 2026 tax position, preserve deductions and plan strategically for the year ahead.
Suggested Year-End Tax Preparation Checklist
| Planning Area | Key Question | Video Explainer | Next Step |
|---|---|---|---|
| QBI | Are owners near §199A thresholds or SSTB phaseouts? | Watch Clip 1Watch Clip 2 | Run owner-level taxable income projections. |
| Depreciation | Should assets be placed in service before year-end? | Video to come | Compare Section 179, bonus depreciation, and state conformity. |
| Interest expense | Is §163(j) limiting deductions? | Video to come | Model ATI and small-business exception eligibility. |
| PTET/SALT | Would a PTET election reduce federal taxable income? | Video to come | Confirm state rules, payment deadlines, and owner consent. |
| Retirement | Can deductible plan contributions reduce taxable income? | Video to come | Review plan options and establishment/funding deadlines. |
| Charitable giving | Would bunching or appreciated property gifts help? | Video to come | Coordinate with itemized deduction and QBI planning. |
| Estimates | Are owners underpaid for 2026? | Video to come | Update safe harbor and withholding calculations. |
| Losses | Will losses be deductible this year? | Video to come | Review basis, at-risk, PAL, and excess business loss limits. |
| NIIT | Is passive income or gain exposed to 3.8% NIIT? | Video to come | Review participation, grouping, and gain timing. |
| Entity structure | Is the current structure still optimal? | Video to come | Evaluate S election or restructuring before deadlines. |
| Opportunity zones | Will deferred QOF gain be recognized in 2026? | Video to come | Plan liquidity and tax payments before year-end. |
| Succession and estate planning | Are ownership transition documents, valuations, and estate liquidity plans current? | Video to come | Review buy-sell agreements, update valuations, confirm ownership/beneficiary records, and coordinate any year-end gifts or transfers with income tax planning. |
Follow the series!
This is part of a series leading up to our annual Tax Planning Webinar on November 5th, where our team will walk through comprehensive year-end strategy for pass-through business owners and their personal returns. Sign up for the webinar and over the next few months, we’ll send you updates that dig into multi-state complexity, cross-border considerations, and a full Q4 action checklist — all building toward that session.
GRF Can Help
The GRF Tax Team can assist you with year-end tax planning. Contact us online, or reach out to us below.
