Year End Tax Strategies for Tulsa Business Owners: Expert Advice from CPA Bailey Grufik Hayes

Featuring insights from Bailey Grufik Hayes, CPA and COO of Strategic Financial Services

As the year comes to a close, many Tulsa business owners and real estate professionals are looking for smart ways to wrap up 2025 and set themselves up for a financially strong 2026. To help break down the most important tax and wealth building strategies, we sat down with Bailey Grufik Hayes, a Certified Public Accountant and the Chief Operating Officer of Strategic Financial Services.

Bailey’s team offers a financial concierge experience at their office near 81st and Yale in Tulsa. Their firm helps business owners with bookkeeping, tax planning, financial reporting, estate planning, and business consulting. They also partner with local attorneys, brokers, and specialists so their clients receive complete support across their entire financial journey.

Below are the top year end tax strategies Bailey recommends to maximize deductions, reduce your tax bill, and enter the new year with confidence.

1. Track Every Business Expense

One of the most common issues Bailey sees is business owners not capturing all possible deductions. Whether you use QuickBooks or a simple spreadsheet, tracking should be consistent and accurate.

Key deductions to monitor include:
• Advertising expenses
• Office supplies
• Software subscriptions
• Professional fees
• Marketing and client event costs
• Home office deductions
• Mileage for business travel

Many owners only record obvious expenses. Bailey encourages everyone to consider overlooked items such as home office utilities, equipment upgrades, continuing education, and mileage outside of normal commuting.

Capturing these items can significantly reduce taxable income for the year.

2. Take Advantage of 100 percent Bonus Depreciation

One of the most valuable year end strategies is using bonus depreciation for qualifying business assets. With current tax laws, many types of personal property can be deducted in full during the year they are purchased.

Eligible items may include:
• Laptops
• Tablets
• Office furniture
• Construction equipment
• Medical or dental equipment such as X ray machines
• Technology upgrades

If your business is planning to buy equipment in early 2026, purchasing before December 31 could create an immediate tax benefit.

Important timing rule: The item must be purchased and placed in service during the same tax year. If you order equipment on December 31 but it does not arrive until January, the deduction cannot apply to the current year. Bailey stresses that timing is essential for this strategy.

3. Use Year End as a Chance to Shop Smart

If your business needs a new computer, iPad, or other equipment soon, year end is a great time to make the investment. You receive the deduction now and start the new year with the tools you need to run your business efficiently.

This is especially helpful for service based businesses such as chiropractors, dentists, contractors, or real estate teams who rely heavily on technology and equipment.

4. Maximize Retirement and HSA Contributions

Your deadline for buying equipment is December 31, but some other tax saving opportunities give you more time.

Retirement plans such as SEP IRAs, Solo 401ks, and certain employer sponsored plans allow contributions to be made into the following year while still counting toward the 2025 tax year. The same is true for some Health Savings Account contributions.

This flexibility is helpful for business owners expecting additional income in January who want to finalize contributions after year end while still reducing their prior year tax liability.

5. Work With a Financial Team That Helps You Understand the Why

Bailey shared that one of the biggest challenges she sees in Tulsa is that many business owners do not fully understand their financial statements or tax strategies. A traditional accounting firm might complete the work without explaining how numbers connect to long term goals.

Strategic Financial Services focuses heavily on education so business owners can make confident and informed decisions year round, not just at tax time.

Preparing for 2026 Starts Now

Whether you own a small business, run a real estate team, or work as an independent contractor, these year end strategies can create meaningful tax savings and stronger financial health for the new year.

If you are planning equipment purchases, reviewing expenses, or looking to optimize your financial systems, now is the time to take action.

If you would like help preparing for a successful 2026, reach out to a trusted Tulsa tax professional or connect with Bailey and her team at Strategic Financial Services for personalized guidance.