As we step into 2026, the "fresh start" of a new calendar year is more than just a symbolic milestone—it is a critical window to fortify your business’s foundation. Taking the time now to audit your operations and finances ensures that you aren't just working in your business, but on it.

1. Audit Your Financial Health

Before chasing new revenue goals, look backward. Reconcile your 2025 books to ensure every transaction is accounted for. This is also the time to prepare for tax season; with the One Big Beautiful Bill (OBBB) introducing new federal tax changes this year, consulting with your CPA early is vital to capture new deductions for "qualified tips" or "qualified overtime."

2. The Insurance Deep Dive

One of the most overlooked tasks is a comprehensive corporate insurance review. Your business likely evolved over the last twelve months—perhaps you hired remote staff, invested in new equipment, or expanded your service offerings.

• Check for Gaps: Ensure your Professional Liability and Cyber Liability limits reflect current risks.
• Avoid Overpaying: If you reduced your fleet or downsized office space, you might be paying premiums for assets you no longer own.
• Compliance: Verify that your Workers’ Compensation and General Liability meet the specific requirements of any new contracts signed for the 2026 fiscal year.

3. Update Compliance and Security

January 31 falls on a Saturday this year, meaning the "Super-Deadline" for W-2s and 1099s moves to Monday, February 2, 2026. Use this extra 48-hour window to validate data and avoid costly "mismatch" notices. Additionally, perform a quick cybersecurity audit: update passwords, enable multi-factor authentication, and ensure your data backups are functioning correctly.

By tackling these administrative hurdles now, you clear the path for a productive and protected year ahead.

For more than 30 years, Beall Financial and Insurance Services, Inc., has been helping corporations and individuals protect their most important assets. The agency’s client base covers a spectrum of niche businesses, such as craft breweries, that require specialized insurance packages and knowledge. With offices in California and Indiana, Beall Financial and Insurance Services serves clients nationwide.