I am a CPA, but I am not your CPA. This article is for informational purposes only and is not tax or legal advice, nor can be relied upon as such. The author is not liable for any losses related to actions or failure to act related to the content of this article. If you need specific tax advice consult with a CPA who specializes in your subject matter and taxing jurisdiction.
There is just a few weeks left in this year, and the temptation to start Christmas Break early is so easy to do when you’re a work-at-home business owner. Don’t give into that temptation. Starting today and before the kids are home for Christmas Vacation make it your priority to get these 8 year-end action steps complete for your Mom Business.
In today’s episode I will be going through the 8 action steps you can still complete before this year is in the books. I will also be discussing my Business Tax Toolkit which contains checklists, logs, and resources for organizing your business taxes.
Listen to the Podcast
LINKS & RESOURCES
Action Step #1: Record quarterly estimated Federal & State payments
Action Step #2: Log your odometer reading on December 31st
Action Step #3: Count inventory after last sale of the year
Action Step #4: Review for 1099 vendors paid over $600
Action Step #5: Review employee records for current addresses
Action Step #6: Gather receipts of property to depreciate
Action Step #7: Consider making any purchases before year-end
Action Step #8: Make a plan for next year