4 Financial Tips as Small Businesses Head into 2014
As 2014 begins, it’s time to pat yourself on the back. You’ve kept your business afloat through an improving, but still struggling, economy. And if you’ve managed to grow your business in the past year, that’s even better!
Now that the cork is popped and memories shared, it’s time to prepare your business financially for 2014. Otherwise, your creditors and the tax man will do their best to crash your party next New Year’s Eve. With this in mind, let’s discuss four financial tips for the New Year.
1 – Get Ready for Tax Season
The IRS has designated itself as financially dependent on your business. And with its broad enforcement powers and general lack of sympathy, it’s a good idea to ensure your taxes are in good order, particularly since self-employed individuals are more likely to be targeted than the average citizen.
Organize all tax documents such as charts of accounts, receipts and anything else that could impact your tax return. Also, review your estimated taxes to ensure you’ve paid the proper amounts. If you haven’t, adjust the final payment to .....More Here
