The year is winding down, which means you have a lot on your plate as a small business owner. From wrapping up projects to preparing for the holiday rush, there's no shortage of items on your to-do list. Even though this is the season of hustle and bustle, it's also an excellent time to take a careful look at your small business finances to make sure you're ready for tax season. With just a few proactive steps before December 31, you can strengthen your financial position and start out next year ahead of the curve.

Owning your own business as a sole proprietor means you have an unparalleled level of freedom to operate it as you see fit while taking advantage of unique growth opportunities. With all that freedom, though, comes an equally significant amount of financial responsibility, particularly when tax season rolls around. With a basic understanding of critical tax forms, deductions, and codes, you can make tax time less stressful and more rewarding across the board.

The Washington, D.C. metropolitan area is a dynamic region made up of multiple jurisdictions, each with its own set of tax laws which small businesses must follow. Understanding the tax implications of conducting business across state and local boundaries is vital for all small businesses, but especially those operating in this unique part of the country. Adhering to the different tax filing requirements  in each jurisdiction can be challenging.  For owners of small businesses in DC, there are many state and local tax issues to consider.