Use this Year-End Tax Checklist to make sure your small business is making the most of end-of-year deductions.
Year-End Tax Checklist
Steps to take before December 31:
- Prepay next year’s qualifying business expenses
- Delay billing until January
- Purchase and place in service needed equipment and vehicles
- Establish or fund your retirement plan
- Review current and older vehicles for possible loss deductions
- Manage crypto and stock portfolios for gains and losses
- Complete any health-insurance reimbursements or S corporation W-2 adjustments
- Pay children for work performed in the family business
- Confirm eligibility for the Section 199A deduction
How We Can Help
Sterling Tax and Accounting is here to help your business with tax planning! Our comprehensive approach to tax planning helps reduce your overall tax liability and keep more money in your pocket. If all your accountant does is file your taxes, chances are they are making you pay more than your fair share of taxes.
Learn how to proactively save on taxes by scheduling a call with our tax planning specialists. Our tax planning, accounting & business services help you stay on track. Sterling Tax & Accounting will work with you to optimize your business and minimize your taxes. We will work to provide you and your business with the tools and resources you need to build a solid tax and business foundation. We’re a trusted CPA Firm in Sarasota, Florida. We serve clients all over the US, and proactively work to minimize their taxes. Welcome to the Sterling Standard of business! Want to learn more? Schedule a meeting with our tax planning team here: https://www.sterling.cpa/contact-us/