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As the calendar winds down, many contractors are closing out projects, handling final invoices, and preparing for a slower season. But December isn’t just about wrapping up—it’s about setting up for success in the year ahead.
As the calendar winds down, many contractors are closing out projects, handling final invoices, and preparing for a slower season. But December isn’t just about wrapping up—it’s about setting up for success in the year ahead.
For small construction business owners, this is prime time to tighten your books, maximize tax advantages, and get your equipment and financing strategy locked in before January hits.
Here’s a practical, finance-focused checklist to guide your year-end planning.
If you’re planning to take a Section 179 deduction on new or used construction equipment, you must:
This could mean taking delivery of that compact loader, excavator, or trailer now—not just signing a purchase order. If it’s sitting at the dealer on January 1, it won’t qualify for 2025.
Learn more from the official IRS Section 179 guidelines.
Pro tip: Financing still qualifies. Even if you only put 10% down, you can deduct the full purchase amount as long as the equipment is in use.
If your business is cash-flow positive or has unused capital budget this year, reinvest now in strategic upgrades:
Purchasing before year-end can lock in pricing, beat January demand surges, and set your crew up for faster mobilization in Q1.
Don’t wait until you need capital. December is the ideal time to:
Business lines of credit are often reviewed annually. Updating your revenue, equipment, and financials now gives lenders the confidence to offer better terms—before busy season applications surge.
Explore how business lines of credit work if you’re new to the concept.
Work with your bookkeeper or CPA to:
Accurate depreciation reduces your tax burden and supports financing decisions in the new year.
Interest rates often adjust in Q1. If you’re planning to finance:
Start the financing process now. Getting pre-approved in December helps you lock in better terms and avoids the January bottleneck when lenders are inundated with applications.
December is downtime for many contractors. Use it to:
Not only does this improve jobsite reliability, it also prepares you for spring financing and resale conversations. Lenders value clean, well-documented fleets.
Before the books close, schedule a year-end meeting to:
A one-hour session with a tax advisor now can save thousands when April rolls around.
December isn’t just a wrap-up. It’s a runway. From tax planning to fleet management to financing strategy, the decisions you make now will determine how ready you are when work picks up in the new year.
The most successful construction businesses don’t just finish the year—they use it to launch the next one.
Looking to finance equipment before the deadline? Talk to National Legacy Capital Group. Their team can help you put new or used equipment into service fast—so you can capitalize on year-end tax savings and hit the ground running in January.
Do I have to pay off financed equipment to claim Section 179?
No. As long as the equipment is in service, you can deduct the full amount—even if it’s financed.
What happens if I purchase in December but don’t receive the equipment until January?
You must place the equipment into service (not just purchase it) by December 31 to claim the deduction.
Can I open a line of credit now and use it later?
Yes. Most business lines of credit are revolving—you only pay interest on the amount you use.
Is December too late to apply for equipment financing?
Not at all. Many lenders offer same-day pre-approvals and can fund within 1–3 business days if documentation is ready.
