10-4-21 Getting Prepared for Year End

Getting Prepared for Year-End

As September turns to October, and the days get shorter, and it becomes the season where we spend more and more time with family. It is not unusual to think about ways to simplify your workload and get as much of your business in order for year-end before the holidays begin.

The first thing I recommend is looking through your vendors to see who you need to send a 1099 to. These will be people that did service work for you, something that you cannot tangibly hold, such as a lawyer, accountant, bookkeeper, marketing expert, coach, website developer, and/or even your rent.

I am recommending this year that we can get new form W-9s starting in October for each and every one of these team members and vendors. It is not unusual for addresses to change during the year. Businesses and addresses have changed more than ever over the past few years.

The same goes for your employees, those that receive W-2s. To make sure that the W-2 arrives at your employees’ and former employees’ homes, it is best to touch base with them to confirm that you have the appropriate address. Here is access to the W-4 form.

Do you have piles of paper sitting on your desk or hidden somewhere?

Now is the time to pull those papers out, sort them, keep what is needed for the end of 2021 or 2022, then file or dispose of anything that is not needed.

By starting early to organize the end of the year, it will lift the weight that holds you down during the holidays and provide you with the time to prepare for 2022.

If you have any questions, please click the button below to schedule a call!

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