The year is coming to a close and before you know it you will be ringing in the new year on December 31st. Because we know time gets away from even those of us with the best of intentions, we want to bring you a helpful reminder of the ways you can be better prepared when it comes time to file taxes and close out the year.
The deadline for 1099’s is January 31st, so you need to make sure your contractor payments for the tax year are in your accounting system. You can get ahead of this process by collecting the W9’s from your contractors and sending them to your bookkeeper. Once your bookkeeper issues the 1099’s they can be sent out to your contractors.
It’s important to stay caught up with receipts for meals, entertainment and travel. Lets face it, no one wants to be digging through a shoe box of random receipts at the last minute. You can log receipts electronically via google drive or drop box and this way both you and your bookkeeper have access to them.
Now would be a good time to respond to the emails your bookkeeper has sent you and to look over any and all reports that you might have missed. When you’re both on the same page the chances of running into a surprise problem at the end of the year is greatly reduced.
We’ve saved the best for last. Did you know that Rigits does taxes? We have an amazing CPA on our team that does business and personal returns. Rigits is truly your one stop shop for all your bookkeeping needs. Give us a call today!