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Prudential Advisors
1060 Broadway #1160
Albany, NY 12204
Phone: 800-243-5334
Fax: 800-720-0780
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November/December 2025
Your Year-end Business Plan
If you own a small business, reducing your 2025 tax bill and planning for a successful new year should be on your radar as the current year draws to a close.
Check Your Records
Start by making sure your books are accurate and up to date. Consult your tax professional to resolve any questions you have before tax season arrives so you're not left trying to sort things out at the last minute. Reviewing both your income statement to get a handle on profits and losses and your cash flow statement to see how money was spent can help you plan for next year.Defer Income
One way to lower this year's tax bill is by deferring income to the beginning of 2026. This tactic makes sense, especially if you expect your income to be less next year.Increase Deductions
Purchasing supplies in advance and upgrading equipment before the end of the year may help you maximize deductions on your 2025 return, assuming you pay for them before year's end. Contribute to a Retirement Plan You can reduce your 2025 income by making contributions to your retirement plan. Contribution limits vary, depending on the type of plan. Your financial professional can let you know how much you can contribute.Consider Your Workspace
If you're self-employed or you work from home and have a dedicated room or space for conducting business, you may be eligible to take the home office deduction. Rules for claiming the deduction are specific, so consult your tax advisor.Deduct Bad Debt
On occasion, your business may have customers who have not paid you for goods or services within a reasonable period. If you have unpaid invoices and no reasonable expectation of payment, you may be able to deduct the debt on your tax return.Revisit Your Goals
Year's end is an appropriate time to look at the goals you set for the year and assess whether you achieved them. If your goals fell short of your expectations, determine the reasons. Then think about the steps you can take in the new year to position your company to thrive.787072
Securities offered through LPL Enterprise (LPLE), Member FINRA/SIPC, and an affiliate of LPL Financial. “Prudential Advisors” is a brand name for the proprietary retail sales channel of The Prudential Insurance Company of America (“PICA”) and its insurance company and other affiliates (collectively “Prudential”). Prudential Advisors financial professionals are licensed insurance agents of Prudential. Pursuant to a strategic relationship among Prudential, LPLE, and LPL Financial, Prudential Advisors financial professionals provide securities brokerage services through LPLE, an affiliate of LPL Financial. These financial professionals are permitted to brand under “Prudential Advisors.” LPLE and LPL Financial are not affiliated with Prudential.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only. Prudential Advisors and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
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