Messy Books Are Costing You Money

How clean books lower your tax bill now, and a webinar on smarter reinvestment strategies when it’s time to sell real estate.

Author

Vince Porter
February 07, 2026

Table of Contents

Year End Accounting Checklist

I’ve seen it for my entire career. It’s the biggest reason our clients pay more in taxes, why tax returns take longer to prepare, and why many businesses are far less profitable than they should be.

And no, it’s usually not the IRS, the tax law, or even your CPA. It’s your financial records. It’s poor accounting and weak bookkeeping controls.

We’re not going to spend this article lecturing you about it. Just know this,  we have an entire department whose sole job is to handle this and keep it from becoming a recurring problem.

That said, if you’re still doing your own books and are about to send over your financials for a tax return, here’s a checklist you can use to save time, fees, and frustration.

 Here is a checklist to make sure your books are closed for 2025:

1. Reconcile every bank and credit card account

2. Review vendor and contractor payments and confirm 1099s are correct

3. Scan the P&L for “miscellaneous,” uncategorized (aka ask my accountant), and duplicate expenses

4. Tie payroll totals back to payroll reports

5. Confirm loan balances match year end statements

6. Review Accounts Receivable: write off old balances that are uncollectible

7. Review Accounts Payable: remove stale bills and confirm anything outstanding is a real invoice

8. Confirm major equipment/vehicle purchases are properly recorded

9. Watch for three of QuickBooks problem accounts: Opening Balance Equity, Uncategorized Asset, and Undeposited Funds

This is the kind of year-end cleanup we do for clients every day. If you want help getting your close finished or would prefer not to do this alone next year, feel free to reach out

Upcoming Webinar: Selling Real Estate Without Giving Half of It to the IRS

Join us Feb 23rd as we talk to Sean Ross. This is for real estate investors who are planning to sell appreciated property and would prefer to keep more of their equity working for them instead of writing a very large check to the IRS.

We’ll walk through practical, legal strategies for deferring taxes and reinvesting smarter so you can redeploy capital, improve cash flow, and maintain momentum after a sale. This isn’t theory or “one weird trick” planning. It’s the same framework we use with clients when real dollars and real transactions are on the line.

If you’re considering a sale in the near future or just want to understand your options before the timing matters, this webinar will help you make better decisions with fewer surprise

Ready to grow your Tax & Accounting education. Here is how we can help :

Join here - The P&C Advisory Collective is a membership for high-net-worth individuals and investors who want expert tax strategies, community support, and direct access to proven guidance that saves real money.

Join now for 3 days for free for full access to the community and our team.