We’re halfway through the year, and if your like most business owners, you have some bookkeeping to catch up on. Keep your small business on track by taking some time to prepare for a less hectic tax season next year, or catch up on things that you haven’t gotten around to yet.
Summer Checklist for Small Business Bookkeeping & Taxes
Mid-Year Evaluation
Start by evaluating your current status as far as bookkeeping and taxes. You might create a list of actions that need to be taken, or payments that need to be made. Create a checklist or spreadsheet of things that should be addressed this summer, or by the end of the year. Then, you will have a better sense of what needs to be accomplished, and who should be responsible for getting them done.
Summer Tax Prep
It’s not uncommon for small businesses to fall behind on tax payments, or have the need to adjust tax payments throughout the year. Summer is a great time to pay your tax bill from April, or make a payment by the extension deadline. Even if you are several years behind on filing taxes, it’s smart to work with your bookkeeper or accountant during their slower summer months so that they have more time to dedicate towards getting all of your taxes properly addressed going forward.
Organize Your Finances
When you’re running a business, it can be easy to fall behind on paperwork. Spend time organizing your finances, or hire a professional to take care of it for you. It can be a huge relief to have a bookkeeping professional on your side making sure that your payroll, finances, bookkeeping, and tax filings stay up-to-date.
At Red Hen, we pride ourselves in providing judgement free business consultation for bookkeeping, tax prep, and business planning. We understand that running a business takes a lot of talent, and we want to be the ones you turn to when you need help with everything from setting up a new business to launching a successful second location.
Contact us to get all of your small business accounting in order this summer, or any other time of the year. You can also find more small business resources right next door, at our newly opened coworking space in St. Louis, Aviary Coworking. Our mission is to provide support to small businesses of all sizes, from solo entrepreneurs to growing teams looking for behind the scenes support to succeed.