Boy, the year has just flown by, hasn’t it? Before you know it, you’ll be ringing in 2016 and getting a fresh start with a new year. But before you break out the champagne, make sure your business is ready to close out the year. Here, I’ve broken down some administrative tasks you need to take care of by the week so you don’t end up rushing around at the end of December to handle it all!
Week 1: Change Your Business Structure
If you want to incorporate your business or form an LLC for 2016, now is the time to get on it. Keep in mind: your Secretary of State gets a ton of applications for new business structures this time of year, so you may have to rush your order or use the delayed filing option to ensure you start the New Year with your new structure. Don’t put this off!
Week 2: Check Your Budgets for the Year
Have you spent all the money you budgeted for different parts of your business? If you still have wiggle room, now is the time to go shopping. Spending money on business expenses now — i.e. a new computer or printer, office supplies, software — will reduce your taxable income for 2015. And if you had a thriving year, you could stand to reduce what you pay in taxes! Continue reading “5 Weeks Left in 2015. Is Your Business Ready for the New Year?” »