Why Rochester, NY Residents Should Schedule a Year-End Tax Review with Their CPA

As the calendar winds down, Rochester and Greece, NY taxpayers have a powerful opportunity: a proactive year-end tax review. Meeting with a local CPA before December 31 lets you make moves while there’s still time to affect your 2025 return, reduce surprises, and head into the new year with clarity.

What a Year-End Review Covers

• Estimated 2025 tax liability: Are you over- or under-withholding?
• Deductions and credits: What can still be captured before year-end?
• Income timing: Should you defer or accelerate income/expenses?
• Life-event changes: Marriage, a new home, a new business, or retirement shifts.
• Record readiness: What documents to retain and how to organize them.

Not sure where to start? Explore our core offerings: Tax Services, Accounting & Assurance, and Estate Planning.

Why September–December Matters in Rochester, NY

Waiting until filing season means you’re reacting to the past. A fall review gives you time to make adjustments that actually change your outcome. Local clients often use this window to:

• Right-size withholdings so April isn’t a shock (see key dates on our Due Dates page).
• Finalize charitable giving and energy-efficient upgrades before 12/31.
• Review property and school-related expenses common across Monroe County.
• Recheck retirement contributions and catch-ups if you’re eligible.

High-Impact Moves to Discuss with Your CPA

• Maximize retirement contributions: 401(k)/403(b) at work, or IRA/Solo-401(k) for the self-employed.
• Charitable strategy: Bunch multiple years of gifts, consider appreciated assets, or align donations with itemizing.
• Health accounts: Confirm HSA/FSA elections and qualified spending before deadlines.
• Capital gains planning: Harvest losses to offset gains; mind wash-sale rules.
• Education costs: Align tuition timing and qualified expenses to maximize available benefits.

Own a Business in Greece or Rochester?

A year-end review is essential if you operate a pass-through or corporation. We help owners align books, taxes, and strategy through our Business Services and Tax Strategies for Business pages. Discussion points often include:

• Quarterly estimates vs. year-end projections (Due Dates).
• Entity review: Is your current structure still the most tax-efficient?
• Section 179/bonus depreciation: Timing equipment or vehicle purchases.
• Owner compensation and payroll adjustments before year-end.
• Clean books: Reconcile accounts and prepare for year-end close; see Bookkeeping Services and QuickBooks.

What to Bring to Your Review

• Latest pay stubs and any withholding changes this year
• YTD summaries from payroll/HR portals
• Brokerage, retirement, and HSA/FSA statements
• Business financials: P&L, balance sheet, bank/CC reconciliations
• Details on major life events (home purchase/sale, marriage, dependents, new business)

Local Scenarios We See Often

• Dual-income households whose combined withholdings don’t match their bracket
• RSU/stock sales from local tech/healthcare employers with under-withholding
• Side-gigs that need quarterly estimates and expense tracking
• New homeowners unsure how deductions interact with NYS rules
• Retirees balancing RMDs, Social Security, and state tax nuances

How We Help

We pair planning with execution: organize records, align moves with your goals, and prepare you for a smooth filing season. Explore our resources and team:

• Tax Services
• Accounting & Assurance
• Staff
• Testimonials

Ready to Book Your Year-End Review?

Lock in a meeting before calendars fill. We’ll estimate your 2025 liability, map out action items, and set you up for a confident start to 2026.

(585) 225-9290
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