
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
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