It’s time to wrap up your accounting and get a head start on tax season. Download “The Ultimate Checklist for Tax-Ready Financials” to help you organize files and prepare your business tax return.
Quick List
Here’s a quick checklist with details to help you stay organized.
- Reconcile All Your Accounts: Compare your bank and credit card statements with your bookkeeping software to ensure all transactions are accurate and accounted for. Resolve any discrepancies now.
- Organize All Your Receipts: Gather all receipts for physical and digital business expenses. Use a scanner or app to digitize them and store them in a cloud-based folder for easy access.
- Review Invoices: Check for unpaid invoices and send reminders to clients. This helps improve your year-end cash flow and ensures you don’t leave money on the table.
- Run Financial Reports: Generate your Profit & Loss, Balance Sheet, and Cash Flow statements to overview your business’s financial health comprehensively. These reports are essential for tax prep.
- Gather Tax Documents: Collect forms like W-2s for employees, 1099s for contractors, and records of deductible expenses like mileage, utilities, and office supplies.
- Prepare for Next Year: Use insights from this year’s data to set financial goals, create a budget, and plan for growth in 2025.
Knocking these tasks out now will make tax season a breeze and ensure you start the new year stress-free.
Need help?
We take the tedious and time-consuming task of collaborating with business advisors off your hands. Our job is to provide the support, documentation, and analyses to us so you don’t have to. Contact us today and stop the tax madness tomorrow.