The end of the year is less than 45 days away and it’s time to begin year-end tax preparation. Building and implementing a comprehensive tax strategy is a year-round and ongoing process but the end of the year presents some opportunities to capture last-minute deductions.
We’ve invested in tax planning tools that aid in maximizing deductions and combining other tax strategies specific for business owners. Now is a great time to get started on an analysis of your current situation to capitalize on 2021 deductions while starting the process for 2022 strategies. Contact Sandy (sandy@tribussolutions.com) by December 10th if you’d like to learn more about our new tax planning service and capitalize on deductions before the end of the year.
Preparing for Year-End Accounting
As the clock winds down on the year we must all begin preparing for important tasks to wrap up the year. Here are some helpful reminders on things to do now to ensure you have a smooth ending to 2021.
– Gather W9s from all 2021 vendors that require a 1099.
– Submit all bank, credit card, and loan statements to our team for all of 2021 to ensure we can wrap up all bookkeeping and year-end financial statements.
– Ask all individuals employed by you in 2021 to update their addresses for W2 processing.
– Return your tax planning packet to Sandy by January 31, 2022.
– Please note that Tribus will implement a hard deadline for processing tax returns in 2022 fourteen calendar days before each tax deadline throughout the year.
