10 no BS End of Year Tips for Your Business

As the year winds down, creative business owners everywhere find themselves in a familiar dance of trying to tie up loose ends, maximize tax benefits, and, if we’re being honest, avoid total burnout. While big companies can afford holiday parties and spreadsheets managed by an army of interns, us independent creatives are left doing the bookkeeping equivalent of last-minute holiday shopping.

Whether you’re an artist, designer, podcaster, or photographer, these end-of-year tips will help you wrap up the financial chaos and step into the new year with a bit more sanity—and hopefully a few extra dollars in your pocket. So grab that last (or third) coffee of the day and get ready to streamline, strategize, and set yourself up for a more profitable new year.

1. Audit Your Subscriptions – AKA, “Do I Really Use That?”

Are you still paying for that video-editing software you swore you’d master? Or that project management app you’ve used exactly three times? Time to cancel those “I’ll totally use it” subscriptions and keep only the tools actually earning their keep. Skim your monthly expenses and cut anything that’s not essential to running or growing your business. Bonus: that extra cash can now go toward equipment or courses you will use.

2. Spot the Winners – And the Time Suckers

Take a hard look at which projects were worth your time this year—and which ones just took your time. Tools like Toggl or Clockify can show you exactly how many unpaid hours went into that “quick favor” project that somehow took all afternoon. Use this intel to say “no” faster next year or set up better boundaries and rates for projects that don’t quite align with your bottom line.

3. Tidy Up Your Tax Categories Like Your Life Depends on It

No one wants to be the person sorting through a shoebox of crumpled receipts on April 14. Start organizing now by filing receipts into categories like “art supplies” and “necessary coffee.” This way, come tax season, you’re not playing detective to figure out if that Amazon order from January was for client work or another one of your craft “experiments.” Keep digital folders ready for all receipts, so everything’s set when tax time rolls around.

4. Make That Big Purchase – But Call It a “Tax Strategy”

Section 179 of the tax code allows you to deduct certain business expenses, so if you’ve been eyeing a new camera, laptop, or design tablet, buying before year-end might make financial sense. It’s the IRS’s way of saying, “Go ahead and treat yourself (within reason).” Remember, if it’ll help your business and lower your taxable income, it’s a win-win.

5. Raise Rates and Attract Clients Who Don’t Pay in “Exposure”

Let’s be real—“exposure” doesn’t pay the electric bill. Identify those clients or types of projects where your rates are too low based on time tracking. Increasing rates now not only boosts your income but also attracts clients who value your work enough to pay for it. So next time someone offers exposure in place of dollars, remind them that your rates just went up—and are worth every penny.

6. Dissect Your Product Costs Like a Crime Scene

For creatives who sell physical products, now’s the time to break down exactly where the money’s going. Materials, shipping, production time—all those little costs add up fast. With this info, you might realize you’re basically giving away art, which is a kind but unprofitable gesture. Consider tweaking your pricing or sourcing materials in bulk for better profit margins next year.

7. Organize Your Files Before They Stage a Mutiny

If finding a client’s file involves ten minutes of aimless clicking, it’s time for a digital detox. Set up folders by project type, date, or client so you’re not guessing where you stashed that important contract or design file when you need it most. Even better, invest in a tool like Google Drive or Dropbox to store and back up your files so they’re easy to find and safe from the whims of your laptop’s lifespan.

8. Back-Up Everything – Because Murphy’s Law is Real

External drive, cloud storage, handwritten list in a drawer… whatever works. Protect your contracts, project notes, invoices, and anything else you can’t afford to lose. Avoid Murphy’s Law, because if something can go wrong (like a laptop crash mid-tax season), it will. A backup system is the best insurance against scrambling to replace lost data.

9. Schedule a Quarterly “Check-In” (Yes, Even With Yourself)

Set up a quarterly reminder to sit down with your books, clients, and business goals. It’s not just about looking back but about catching any issues before they snowball. This self-review lets you course-correct if needed and could save you from a December panic. Plus, it’s a lot easier to make adjustments when they’re smaller.

10. Plan for Those First Few Months of 2025 Like You’ve Got a Crystal Ball

Knowing where the income droughts might hit in Q1 gives you a fighting chance to budget for lattes and rent. Calculate your likely income and expenses for the first three months of 2025, especially if your business is seasonal. Having a realistic cash flow plan for Q1 ensures you stay afloat even during any slow periods—and keeps you from scrambling to pay bills when work is slow.

With these tips in hand, you’re ready to wrap up the year without losing your mind (or your receipts). The end of the year doesn’t have to feel like an organizational black hole—consider it your warm-up for an organized, profitable new year ahead!