Your Beginning of the Year Financial Checklist for a Strong 2026

February is where intention meets execution. The excitement of a new year has settled, and now is the time to confirm that your financial plans are working as expected.

At Maverick Business Partners, we see February as a month of follow-through. It is the opportunity to check progress, tighten systems, and make early adjustments that keep the rest of the year on track.

Here is a practical beginning of the year financial checklist to help you stay focused and confident as Q1 continues.

1. Close January and Review Your Financial Performance

Before moving forward, it is important to understand how the year has actually started.

Pro Tip 1: Close out January and review your Profit and Loss, Balance Sheet, and cash flow. 

Pro Tip 2: Compare actual results to your budget and identify early trends or gaps.

Key Insight: Early awareness allows for small adjustments that prevent larger issues later in the year.

2. Confirm Cash Flow Stability

Cash flow sets the tone for the entire year. February is the right time to ensure it is predictable and healthy.

Pro Tip 1: Review accounts receivable and follow up on outstanding invoices. 

Pro Tip 2: Forecast cash flow through the end of the first quarter to anticipate upcoming needs.

Key Insight: A clear cash flow plan reduces stress and supports confident decision-making.

3. Review Recurring Expenses and Subscriptions

The beginning of the year often brings renewals and automatic charges that can quietly add up.

Pro Tip 1: Review all recurring subscriptions, dues, and service agreements. 

Pro Tip 2: Cancel or renegotiate anything that no longer supports your business goals.

Key Insight: Managing recurring expenses protects your margins and improves profitability.

4. Prepare for First Quarter Tax Obligations

Tax planning does not stop after January. February is a smart time to stay ahead.

Pro Tip 1: Estimate your first quarter tax payment based on January performance. 

Pro Tip 2: Set aside funds now so upcoming deadlines do not disrupt cash flow.

Key Insight: Proactive tax planning eliminates surprises (IRS penalties) and strengthens financial stability.

5. Check Payroll, Benefits, and Compliance Items

Early-year updates are easier to correct when caught sooner rather than later.

Pro Tip 1: Confirm payroll, tax withholdings, and benefit deductions are accurate. 

Pro Tip 2: Review upcoming compliance deadlines, licenses, or annual filings.

Key Insight: Clean systems early in the year prevent administrative stress down the road.

Partnering with You for a Strong Year Ahead

February is about staying intentional, organized, and proactive. When you take time to review, adjust, and plan now, you give your business the structure it needs to grow steadily throughout the year.

 At Maverick Business Partners, we support small business owners through monthly reviews, cash flow planning, and ongoing financial accountability so you never feel behind.

About Maverick Business Partners

Maverick Business Partners provides small businesses with expert bookkeeping, budgeting, and financial management at an affordable monthly fee. We go beyond the numbers to deliver clarity, strategy, and accountability, helping business owners make informed decisions all year long.

Ready to start 2026 with focus and momentum? Contact us today and discover how Maverick can support your year with clarity and confidence.