Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and tax chores. Here are a couple of tips to make year-end go smoother.
Cleaning up
Things will go a lot smoother if you reach out to your vendors and employees and get their help to update your records.
It’s also time to clean up any account balances that need to be reclassified or corrected.
Maximizing deductions
Here are a just a few ways to maximize deductions:
Getting organized
Create a place in your home or office or a special file on your computer to store tax-related documents, such as W-2s, brokerage statements, and tax returns. Convert them to PDF format if they are not already, and upload them to your accountant’s secure client portal as you get them.
With all this great preparation, you’ll find tax season easier than ever and a chore that you can mark off your to-do list early.
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