Small Business Tax Preparation Checklist: Year-End PTIN Tips from Allen Monadi

Oct 7

3 min read

Small business tax preparation is much easier when you start before the filing-season rush. In this year-end checklist, Allen Monadi of USLaw Group LLC, who holds an IRS Preparer Tax Identification Number (PTIN), shares practical steps for startups, local service companies, DMV contractors, and businesses pursuing government contracting work. Use it to get your records organized now, avoid last-minute surprises, and choose a tax preparer with confidence.

Why Small Business Tax Preparation Should Start in the Fourth Quarter

October through December is the best window to fix bookkeeping gaps, collect missing paperwork, and plan for deadlines that arrive quickly in January. Business owners who wait until spring often spend more time and money untangling the year. A few hours of preparation now usually means a faster, cleaner return later.

Step 1: Clean Up Your Books and Separate Business Accounts

Reconcile every business bank and credit card account through the end of each month.
Move any personal expenses out of business accounts, and stop mixing them going forward.
Save receipts and invoices digitally and label them by category.
Track mileage, equipment purchases, and home-office use with written records.

Step 2: Collect W-9 Forms and Prepare for 1099-NEC Filing

If you paid independent contractors during the year, collect a Form W-9 from each one now, before you need their taxpayer ID. Form 1099-NEC is generally due to recipients and the IRS by January 31, moving to the next business day when that date falls on a weekend. Missing W-9s are one of the most common reasons small businesses scramble in January.

Step 3: Review Estimated Tax Payments Before January

Many owners of pass-through businesses and self-employed individuals make quarterly estimated tax payments. The fourth-quarter payment for 2026 is generally due January 15, 2027. Compare what you have paid so far with your actual profit for the year so you are not caught short.

Step 4: Keep Tax Records Ready for Government Contracting

Tax compliance matters for government contracting. SAM.gov registration checks your business name and taxpayer identification number against IRS records, and many public buyers ask bidders to confirm they are in good tax standing. Clean records also make it easier to price bids and plan cash flow. For more on that, read our guide to cash flow planning for your first government contract.

How to Check a Tax Preparer's IRS PTIN

Anyone paid to prepare, or help prepare, a federal tax return must have a valid PTIN and include it on the return they prepare. Before you hire anyone, Allen Monadi recommends these simple checks:

Ask for the preparer's PTIN and confirm they will sign the return as the paid preparer.
Look up credentials in the IRS Directory of Federal Tax Return Preparers, which lists credentialed preparers and Annual Filing Season Program participants.
Avoid anyone who bases the fee on the size of your refund.
Never sign a blank or incomplete return, and review it before you sign.
Make sure any refund goes to your own bank account, not the preparer's.

PTIN Tips for New Tax Preparers

A PTIN must be renewed every year. Current PTINs expire on December 31, and the IRS usually opens renewal for the next year in mid-October.
Read the IRS PTIN requirements for tax return preparers before your first filing season.
A PTIN is a federal requirement only. Some states add their own registration or licensing rules for paid preparers, so check each state where you plan to prepare returns.
Keep up with continuing education and protect client data with a written security plan.

Small Business Tax Preparation Checklist: Key Takeaways

Reconcile accounts and separate personal spending now.
Collect W-9s before you need to issue 1099-NEC forms.
Check estimated taxes before the January 15, 2027 payment date.
Keep tax records ready for SAM.gov and government bids.
Hire a preparer with a valid PTIN and verify credentials.

Talk to Allen Monadi and USLaw Group LLC

USLaw Group LLC helps small businesses get organized for tax season and grow through business development, startup business plans, licensing guidance, and government contracting support. Message us on WhatsApp 0015712076845, call 5712452001, email info@uslawgroupllc.com, or visit uslawgroupllc.com. Our office is at 10432 Balls Ford Road, Suite 300, Manassas, VA.

Disclaimer: USLaw Group LLC is a business consulting company, not a law firm, and does not provide legal advice. This article is general educational information, not legal or tax advice. Rules change and depend on your situation, so confirm details with the relevant agency or a qualified professional.