The Tax Credit Planning Checklist for 2026

Tax credits are one of the few planning tools that can materially improve cash flow without changing how you run your business. Yet many companies still treat them as a year-end exercise, rushing to reconstruct information long after the work is done.

In 2026, that approach is increasingly inefficient.

This checklist is designed to help founders, CFOs, and finance teams integrate tax credit planning into their regular operating rhythm, so incentives are predictable, defensible, and easy to claim.

Step 1: Know Which Credits Apply to Your Business

Before tracking anything, clarify which credits are relevant to you.

Common examples include:

• Research and Development (R&D) tax credits
• Real Estate or Energy-related incentives such as Cost Segregation, 179D, ITC, or 45L
• Payroll and health insurance-related credits for early-stage companies
• State and local credits that stack with federal programs

This initial scoping should be revisited annually as your business evolves.

Step 2: Assign Clear Internal Ownership

Tax credits fail most often because no one owns them.

Decide early who is responsible for:

• Identifying eligible activities
• Coordinating between departments
• Ensuring information is captured consistently
• Communicating with advisors

In many organizations, ownership sits with:

• The CFO or Head of Finance for strategy and forecasting
• Accounting or payroll for expense tracking
• Engineering, operations, or facilities teams for activity-level insight

Clear ownership reduces confusion and last-minute scrambles.

Step 3: What to Track Monthly

Monthly tracking turns tax credits from a guessing game into a planning tool.

At a minimum, track:

• Payroll by role and department
• Contractor and consultant costs tied to technical or energy-related work
• Supplies, materials, or software directly related to eligible projects
• Project start and end dates
• High-level descriptions of work performed

You do not need perfect detail every month. You need consistency.

Step 4: Build Credits Into Forecasts and Budgets

Credits should be part of your financial model, not an afterthought.

For 2026 planning:

• Include estimated credits as a line item in forecasts
• Model conservative and upside scenarios
• Consider timing of refunds or offsets when projecting cash flow
• Revisit estimates during reforecast cycles

This helps leadership make better decisions around hiring, capital spending, and runway.

Step 5: Know When to Loop in Advisors

Waiting until filing season limits your options.

Engage advisors:

• Early in the year to confirm eligibility and approach
• Mid-year to sanity-check assumptions
• Before major changes like new hires, acquisitions, or large projects
• When considering amended returns or new elections

Advisors are most valuable when they help shape strategy, not just file forms.

Step 6: Keep Documentation Simple and Organized

You do not need to over-document, but you do need clarity.

Best practices include:

• Centralizing credit-related information in one shared location
• Using simple project summaries instead of long narratives
• Keeping payroll and expense records aligned with project timelines
• Maintaining copies of filed forms and elections

Organization throughout the year is what prevents stress at filing time.

Step 7: Plan for Filing Before the Deadline Approaches

Avoiding a year-end scramble requires setting internal deadlines.

Consider:

• A preliminary review in Q3
• Final data collection shortly after year-end close
• Early coordination with your CPA before returns are finalized

This timeline gives you flexibility and reduces the risk of missed opportunities.

Final Thoughts

Tax credits are not a once-a-year task. They are an ongoing planning opportunity.

Companies that succeed in 2026 will be the ones that treat credits like any other financial lever. Tracked regularly, owned internally, and planned in advance.

Use this checklist as a living document. Revisit it quarterly. Update it as your business changes. When tax season arrives, you will already be ready.

If you want support identifying eligible credits, building a year-round tracking process, or integrating tax credits into your 2026 planning, our team can help.

Book a call with TaxTaker to talk through your tax credit strategy and next steps.