Is your year-end checklist ready?11/6/2019
Many businesses are planning for next year. Make sure you review these financial considerations before year end:
1. Tax Laws – Work with your tax advisor to understand how/if any tax law changes affect your business.
2. Purchases – Determine if you should make major purchases now so you can take the deduction in your current tax year.
3. Results – Review your margins, sales mix and customer base now so you can make adjustments, if needed.
4. Budget – Review your current objectives and goals. Consider the financial needs involved in reaching those goals.
5. Business Plan – Your plan should be a living document. Now’s the time to review the strategies you laid out.
These five areas should prepare you to close out the year and start the next year off right. ♦