Early literacy skill development predicts later reading success, and development of skills in specific domains during the preschool years has been established as both a prerequisite and precursory for reading. Early literacy assessments typically include measures of separate skills across domains, and results can assist with determining where instructions may be most needed. When multiple areas of need are identified, understanding which skills to prioritize can be a challenge. Therefore, empirically identifying the relative contribution of each skill measured in preschool to subsequent reading success can promote more efficient systems of assessment. This study, conducted in the United States, examined the predictive validity of early literacy skills measured in preschool compared to skills measured in kindergarten, with a specific practical focus on identifying the most efficient predictive model for understanding reading readiness. Participants were 119 preschoolers (mean age = 66 months) who mostly spoke English as their primary language (79%). Results indicated early literacy and language skills in preschool are highly predictive of early reading in kindergarten, accounting for 59% of the variance in a reading composite score. The most parsimonious model indicated that first sounds, letter sounds, early comprehension, and expressive vocabulary measures adequately explained 52% of the variance in children's kindergarten reading performance.