More From Granite Mountain
There are just a few weeks left in 2021—you’ve likely got a lot to do! One thing you should plan as you complete your year-end accounting tasks is a meeting with your accountant.
While scheduling a meeting at one of the busiest times of year seems counterintuitive, you definitely don’t want to wait until tax season! Now is the time to set yourself, and your business, up for easier success in 2022 with a firm grasp on where you stand. Spending a bit of time now will save you a lot of time in the coming year as you reach your goals.
Before you meet with your accountant, running through some basic accounting items will help you prepare for the discussion. If someone else prepares any of these items for you, ask to receive them in advance.
With our clients, we always take a look at the overall standing of the business. This includes a general discussion about revenue and expenses. However, we often go beyond that, identifying risks and opportunities in the coming year. Our goal is to help clients have a clear-eyed view of their business, so they understand what the impact of any decision-making will be.
Another topic for a year-end accounting check-in: taxes. This is especially important if COVID continues to impact your business and you are closing, accepting additional government funds or missed a tax payment.
From estimating tax payments for the upcoming year to finding out whether you may be able to avoid any penalties, talking to your accountant is the best way to prepare for what to expect. There may also be a few things you can do before December 31 to lighten your tax load.
While you may think of an accountant as someone who simply files paperwork on your behalf, it can be very beneficial to enlist the help of a professional to help you plan a budget for the upcoming year.
An accountant can help you by assessing your current budget and financial documents to help you create a new budget for the coming year. They may advise adjustments in necessary areas based on what your statements reveal. This conversation might change your goal or the way you choose to keep track of things like cash flow throughout the year.
This only scratches the surface of what we might discuss and does not constitute specific advice. Your business and your goals are unique. Contact us if you’d like to discuss your year-end accounting needs.
More From Granite Mountain
This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.
Accept settingsHide notification onlySettingsWe may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.
Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.
These cookies are strictly necessary to provide you with services available through our website and to use some of its features.
Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.
We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.
We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.
We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.
Google Webfont Settings:
Google Map Settings:
Google reCaptcha Settings:
Vimeo and Youtube video embeds:
You can read about our cookies and privacy settings in detail on our Privacy Policy Page.
Privacy Policy