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January 2025
Get Prepared
Now's the time to prepare your company's books for tax time. Your tax preparer may have a checklist to help you get organized. Start by reconciling your accounts as of December 31.
If you paid independent contractors, you have until the end of January to get those tax forms out. Remember that you'll need to send copies to the IRS.
Pull out receipts for depreciable assets purchased in 2024. Your tax preparer will need these to update your records and calculate depreciation for your tax return.
Once you have all your tax documents ready, call your tax professional to schedule your appointment early so you can file your taxes on time.
Do not underestimate the importance of accounting for the growth of your business. Work with your accountant throughout the year to monitor cash flow and profits.
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