Q4 Business Tips to prepare for the next year
Five 4th Quarter Business Tips
We hope you enjoy the crisp fall breeze and take a moment to think about some fourth quarter best practices. Here is our Top 5 list.
- Review your Financials: Did you perform better than last year? Assess your cash situation and determine if new items should be purchased before year end.
- Prepare a Budget for next year:Starting your 2017 planning in January next year is too late. You should plan for a strategic planning session before Christmas break. Meet with your business adviser and peer support group and create your 2017 budget forecast.
- Get your Accounting Records in order: Ensure your CPA’s adjusting entries from last year are in and you have all updated 1099 info from your vendors. Schedule a meeting with your CPA before the year end to estimate your taxes due.
- Employees: Review your employee records and think about bonus and incentive plans. Who are your stars?
- Lastly, Back-up your Data: A redundant cloud service may be the best insurance your business will ever have.