DENISE STUBBS, CPA

Every January, gym memberships spike, diet plans launch, and millions of people commit to "getting healthy" in the new year. But while we focus intensely on physical wellness, most people completely overlook financial wellness—even though money stress affects our health, relationships, and overall quality of life more than we'd like to admit.

As December arrives, business owners across the country are checking their profit and loss statements and seeing the fruits of a year's hard work. If your P&L is showing a healthy profit, congratulations! You've built a successful business. But before you celebrate too much, remember that a big profit also means a potentially big tax bill.

December isn't just about holiday shopping and vacation planning. It's one of the most important months for your finances. Miss these key deadlines, and you could lose money you've already earned, forfeit tax savings, or face costly penalties.

If you've never participated in a formal tax planning session, you might be wondering what actually happens during the appointment. Many people assume it's just like their annual tax preparation meeting, but tax planning is fundamentally different and far more valuable when done before year-end.

Five Tax Moves to Make Before the End of the Year