01-01-2021, 06:12 AM
What do I do at the end of the year?
submitted by /u/jophus00
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First year with my small business. LLC, treated as an S-Corp. Me and a part-time employee, paid as employees. What do I need to be doing today? I'm getting my Quickbooks in order to make sure everything is labelled correctly, then sending everything to my accountant to handle business and personal taxes in late January or February, when I get/finalize 1099s, W2s, etc. My company has made a "profit," but I know not to give myself a "bonus". I'm also making sure I've reimbursed myself for mileage and other expenses not paid by the company. Is there anything else I need to be doing before midnight tonight?
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