In Order to Prepare for Year-end Planning:
-Compile a list of all '98 business related expenses incurred.
-Complete a mileage log to document business transportation expenses;
-Perform a physical count of inventory at cost as of the last business day of the year;
-Verify accounts receivable and accounts payable balances for accuracy;
In Order to Maximize current year tax deductions:
-Pay all business expenses by year-end (Cash Basis entities);
-Purchase needed business assets by year-end; -Pay all state estimated taxes by year-end;
-Pay all payroll taxes by year-end;
-Make company-sponsored pension contributions by 12/31/98 and IRA contributions by 4/15/99;
-Make loan payments due in January by 12/31/98.
HAVE A CPA ON YOUR SIDE!
Call Us for Additional Information at (310)444-3041