2026 year-end checklist
Year-end moves and 2027 deadlines for owners of medical, dental, law, accounting, and consulting practices.
- By Dec 31
Adopt a cash balance plan for 2026. Plans can generally be adopted up to the return due date, but deciding now leaves time to budget the funding.
- By Dec 31
Make the final 401(k) deferrals through payroll, and have partners sign deferral elections by year-end. Safe harbor contributions can be deposited later but must be in by the return due date to be deducted for 2026.
- By Dec 31
Pay PTET estimates where state rules require payment within the year.
- By Dec 31
Review projected taxable income against the $403,500 / $201,750 SSTB threshold.
- By Dec 31
Place building improvements and equipment in service, and order cost segregation on practice real estate.
- By Dec 31
Reimburse owner expenses through the accountable plan.
- By Jan 15, 2027
If your Connecticut practice is electing the PET for 2026, pay the fourth estimate. Paying by Dec 31 instead is the usual way to deduct it on the 2026 federal return, because a cash-method practice deducts PET in the year it's paid. The IRS, however, hasn't addressed payments made before the election.
- By Mar 15, 2027
File Connecticut Form CT-1065/CT-1120SI and check the box to elect the PET for 2026, or extend to Sept 15, 2027. The election can't be made on an amended return.
- By Sept 15, 2027
Pay the 2026 cash balance minimum required contribution, which is due 8½ months after a calendar plan year ends even if your return is extended to Oct 15. Plans with a prior-year funding shortfall also owe quarterly installments.
- By the return due date
Fund profit sharing and any cash balance amount above the minimum to deduct it for 2026, and confirm the actuarial certification.
Dates assume a calendar-year taxpayer. Some items require plan documents or elections that only your advisor or plan provider can complete.
Run this checklist with a tax advisor
In a consultation, we look at your practice and personal returns, owner compensation, and staff payroll, estimate what PTET and other entity tax planning could be worth to each owner, and tell you whether a cash balance plan makes sense to model with your actuary and TPA.