Summer is time for relaxing, spending time with the kids and going on vacations. But for a small business owner, this is also time to review the books for the first part of the year and think about what the second half is going to look like. Items to review -
- Revenues
- Expenses
- Payroll
- Benefits
Some considerations - are my revenues going to decrease or increase towards the end of the year? Will I need to adjust my payroll up or down? Or - start taking payroll if I only took out Dividends so far? Will I have Profit that will have possible tax consequences?
Mid year tax planning does not have to be tedious, and will surely save time (and money) at tax time. It is always cheaper to plan ahead than to having to play catch up.
Comments or questions?
With wealth of tax information found everywhere on the internet, my blog is intended to simplify, not to add to the confusion.
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About Me
- Natalie Kiser
- Winchester, California, United States
- Experienced tax professional with accounting and bookkeeping expertise, capable to consolidate all services essential to the clients in one place - bookkeeping, accounting and tax preparation - in a convenient and cost effective way.
