The Importance of November | Your Cue to Have That Tax Strategy Talk with Your CPA
Hey there, friends of Keepbooking!
Nicole here, hoping you’re staying cozy as we step into November. You know what this time of the year means, right? No, not just pumpkin spice lattes and the holiday buzz—though that’s fun too! It’s time for some serious chat about tax strategy with your CPA.
Why November is the Sweet Spot
So why is November the golden month to sit down with your CPA? Simple. If you're working with us at Keepbooking, we’ll have your books in tip-top shape, ready for CPA review by mid-November. This sets the stage for you to get a grasp on your financial standing before the year ends.
Having a clear financial snapshot in November allows you to make informed decisions. Whether it's tax deductions, investment plans, or anything else that could affect your tax liability, now's the time to plan. This isn’t just about minimizing tax dues; it's about strategically using this knowledge to set you up for a prosperous new year.
Housekeeping Before Ringing in the New Year
Before you pop that champagne cork, let’s not forget some housekeeping duties.
Gather Those W9 Forms: If you’ve contracted any freelancers or outside services that require a 1099, you need to collect W9 forms from them. It’s a simple form but a crucial one, ensuring that you’re on the same page with your contractors about what they’ll be reporting to the IRS.
Double-Check Your Records: Now's the time to ensure all transactions are properly categorized. Have a quick look through your books; if something seems off, flag it. Better safe than sorry!
Don’t Forget About Expenses: Got any last-minute expenses that can be written off? Buying office supplies or new tech can not only jazz up your workspace but can also give you beneficial tax write-offs.
The Keepbooking Advantage
We're not CPAs, but think of us as your financial friends who have your back. We’ll make sure your books are clean, organized, and ready for any CPA to dive into. We're all about helping you hit those financial goals with ease and confidence.
Let’s Make It Happen
There’s something about November that makes it perfect for planning. Maybe it's the impending new year or the sense of winding down that fuels the drive to set new goals. Whatever it is, don't let November slip away without that crucial tax chat.
Need help getting your books CPA-ready? You know where to find us. 😉
Cheers to smart planning and even smarter financial moves!
