Many of you just filed your 2019 taxes a few weeks ago. Hopefully it was a smooth process, but I know you may have been scrambling at the last minute to get everything together. That’s why I’m starting now with reminders for year-end 2020! We’re just over halfway through the year so now is a great time to get on track with your 2020 financials so your year-end reporting and tax returns are a breeze this next time through.
What is year-end reporting? Besides the tax prep piece, companies typically prepare their financial reports for a 12-month period at the end of the year to review their performance and plan for the following year. Don’t miss out on this important performance review action for your company!
What can you do now to prepare? Usually, companies begin preparations for the year-end in the fall (for a calendar year-end), but that is assuming they are all caught up on their books. If you’re behind for 2020, now is a great time to catch-up and set yourself up for success as you get closer to year-end.
If you’re feeling less than motivated about it, just take a moment to think about how you’ll feel when you’re back on track and how you’ll feel next year when there’s no back-log. If you’re interested in a DIY approach click here to schedule a phone call to review your options. If you’re looking for more support and someone to jump in to help you catch up, book a call here to find out how we can work together to get you where you need to be.
Lis Lee Accounting is not a financial planner, broker, or tax advisor. Neither Lis Lee Accounting nor the content herein are intended to provide legal, tax, or financial advice. The content and materials are intended only to assist you in your general organization and decision-making for your business or practice. Lis Lee Accounting shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof.