Year end is coming! It’s hard to believe that December is almost over, and before we know it we will be in 2017. Year-end might elicit stress when it comes to thinking about your business. Do you feel stressed thinking about year end? We can help! Here is a handy checklist of things to get in order this month.
- Expenses – Pay your vendors and contractors on or before December 31.
- 1099 Vendors – Verify that all W-9 information on file is current including addresses and Federal Identification Numbers. Make sure all payments are recorded in your accounting system, including payments made with cash.
- Payroll – Verify all employee information is current including address and Social Security Numbers. Confirm that gross wages from your federal and state payroll reports agree with your financial records and that all payroll tax returns for previous quarters have been filed on time.
- Tax Planning – Schedule a meeting with your tax accountant before December 31.
- Fixed Assets – Review how fixed asset purchases have been recorded in your accounting. Determine if you will make any additional purchases before year-end.
- Estimated Tax Payments – Verify that all estimated federal and state tax payments have been made and are recorded in your accounting system.
Year-end doesn’t have to be stressful! If you need help with any of the above or are looking for an experienced bookkeeper, please contact us at firstname.lastname@example.org
Happy end of the year!