By: Thomas Law Group On: November 17, 2021 In: Business/Employment Comments: 0

The end of the year can be overwhelming for all of us and business owners are no exception. If you are a business owner, there are additional year-end matters to consider and addressing them timely can help keep the business organized and can help you relax and enjoy holiday time with your family. The following are some end-of-year reminders:

Touch base with your accountant/tax advisor. Have fringe benefits/adjustments been sent to the payroll company before the end of the year to be included on W-2s? Have all tax filing deadlines been met? Are there any adjustments that need to be made to your financial reporting due to your receipt of government stimulus and recovery loans related to COVID-19?

Check in with your HR Consultant or Office Manager. Are there any issues related to PTO status of employees or do bonus payments need to be finalized? Do your employees need to finalize any benefit elections before the first of the year? Have all company contributions to qualified plans been made?

And last, but in our opinion certainly not least, have you talked to your attorney in a while? Things like annual company minutes, strategies about buying or selling, or negotiating contracts for the coming year can easily be addressed with the assistance of legal counsel.

Your professional advisors can advise and facilitate in order to help keep things running smoothly so you can focus on the things you most enjoy about conducting your business. And remember, it’s never too early to contact your advisors to discuss all these wrap up tasks… the end of the year is a busy time for them too! Contact the attorneys at Thomas Law Group for assistance.