Money Matters: Business Finances 101 | What Small Business Owners Must Do Before the 2026 Tax Season
Every January, I watch the same pattern play out.
Business owners suddenly feel behind, overwhelmed, or anxious about their finances… even though nothing “new” actually happened overnight. Tax season didn’t sneak up. The numbers didn’t suddenly become complicated. What changed is that deadlines got closer, and clarity feels harder to find when things haven’t been tended to consistently.
That’s exactly why I created this brand new Money Matters: Business Finances 101 series.
Throughout the month of January, we shared a lot of practical finance education across Instagram and Facebook. But social media moves fast, content disappears quickly, and important information often gets buried. So this year, I’m doing something new.
Each month, I’m pulling together the most important financial topics we’ve covered and expanding on them in one place… so you can slow down, understand what actually matters, and take action from a place of clarity instead of panic.
This January edition is especially important as we head into the 2026 tax season (covering 2025 activity).
Why early preparation matters more than ever
Recent legislative changes mean federal taxes, credits, and deductions may look different for many business owners. And the IRS has been very clear… they want taxpayers preparing earlier, not later.
A few simple steps now can save you significant stress down the road:
Making sure your bookkeeping is fully up to date
Reviewing your financial reports so they actually make sense
Confirming contractor and employee information for 1099s and W-2s
Organizing receipts, invoices, and key documents
Checking in with a trusted tax professional before deadlines pile up
None of this is about perfection. It’s about being proactive instead of reactive.
One of the biggest mistakes I see every year is business owners waiting until tax season to look at their numbers.
By then, everything feels urgent.
What most people don’t realize is that accurate tax filing and healthy cash flow rely on the same foundation… clean, consistent bookkeeping throughout the year.
If your chart of accounts is overly complicated, your transactions aren’t reconciled monthly, or personal and business expenses are mixed together, you’re not just creating a tax headache. You’re losing real insight into how your business is actually performing.
Without accurate books:
You don’t know what you truly owe in taxes
You can’t trust your cash flow numbers
You’re forced to make decisions based on guesswork
That’s not a failure. It’s just a systems issue… and systems can be fixed.
You’ve got to think like a CFO, especially if you don’t have one!
Whether you hire support or do this yourself, someone needs to think like a CFO in your business.
That means:
Simplifying accounts so reports are clear and readable
Creating consistent monthly workflows
Reviewing reports regularly, not just at tax time
Paying attention to patterns, not just profit
Cash flow feeling tight, expenses creeping up, or margins thinning are not personal shortcomings. They’re signals. And when you know how to read them, they give you power.
This is where the YouTube video goes much deeper.
In the full YouTube training, I walk through all of this step by step… including:
What the IRS is emphasizing for the upcoming tax season
1099 and W-2 reminders (and what to do if you missed deadlines)
How entity structure impacts taxes and cash flow
What “tax-ready” bookkeeping actually looks like
Monthly, quarterly, and annual bookkeeping rhythms
How to use your financial reports as decision-making tools
The difference between reacting to numbers and planning with them
I also share context, examples from real client situations, and practical explanations that are hard to capture fully in writing.
If you’re someone who likes to see how things connect, the video will give you a much fuller picture.
👉 Watch the full YouTube training here.
You don’t have to do this alone.
If this post made you realize things feel scattered, unclear, or heavier than they need to be, that’s not a judgment. It’s information.
At I Need a Clone Consulting, we support business owners at every stage… from DIY systems and education, to clean-ups, to fully done-for-you monthly bookkeeping.
And if you’re curious what support looks like right now, we offer a new monthly special each month. You can always see the current offering here:
👉 ineedaclone.com/monthly-special
This work isn’t just about compliance or checking boxes. It’s about creating a business that feels steady, informed, and aligned… so you can move forward with confidence instead of stress.
If you have questions, reach out.
And if you haven’t yet, I highly recommend watching the full YouTube training for the deeper dive.
Clarity builds momentum… and momentum changes everything.