Private Practice Tax Planning Meeting Guide

Where Your Money Quietly Goes in Q4 

Every year around this time, the same patterns show up in my clients' books. A few worth having on your radar:

Marketing spend picks up - Between holiday promotions and year-end pushes, this is usually the most predictable increase — worth budgeting for on purpose instead of watching it happen by surprise.

Software and membership renewals cluster here - A lot of annual subscriptions and continuing education renewals land in Q4 without anyone planning for it. Worth a quick scan of what's about to auto-renew.

…and then there's the holiday generosity problem

This is the one that quietly creates headaches every January. You want to take care of your people and your clients, and that instinct is right. But the execution matters.

Client gifts are only deductible up to $25 per person per year. That's it. That limit hasn't changed since 1962 and nobody is adjusting it for inflation anytime soon. A $50 bottle of wine for your best client is a generous gesture and a $25 deduction.

Employee bonuses, gift cards, and cash are taxable compensation — every dollar, regardless of the amount. There is no "it's just a small bonus" exception. Run it through payroll. Every time.

The only thing that gets a pass? Truly de minimis gifts — think a box of Sarris Candy, a holiday card, something that says "I'm thinking of you" without saying "here's money." The moment it becomes cash or a gift card, the IRS wants its cut.

The good news: None of this means don't be generous. It means do it right so you don't spend February untangling January's goodwill.

Since we're already talking year-end: I put together a Tax Planning Workbook to help you walk into your next meeting prepared — what happened in 2026, what's changing in 2027, and the questions worth asking so nothing slips through.