As 2015 comes to a close, it’s important to make a checklist of things your business needs to wrap up prior to closing the year and preparing for the corporate tax return. Below is a list of a common items that clients need to address before the current year ends:
1. Do the equipment and/or vehicle loans balance?
2. Were there any personal loans given to the company?
3. Did you buy any fixed assets not listed on the balance sheet?
4. How was health insurance handled for the business?
5. Does the owner need any additional payroll?
6. Do you want to contribute more to an IRA prior to the year closing?
7. Did you record any personal miles driven?
If you are looking for guidance on closing your business books for 2015 please contact us at your earliest convenience.
Merry Christmas to all of our clients, friends, colleagues and family members. May you all have a wonderful holiday season!