Delegate, Focus, and GROW Your Business

End-of-the-Year Checklist for Businesses

For many businesses, November and December can be a busy time of year. There are several holidays plus the looming tax season ahead. Before you know it, the ball will be dropping on the end of 2014, making now the time to create a plan to ensure your business is ready for 2015. Take the time now to make your end-of-the-year checklist, to ensure that everything gets crossed off the list by January 31st. Things you may need to add your checklist include:

  • Update your accounting records. To plan for the end of the year, you need to know where your business stands from a revenue, profit and tax perspective. If you compile your own books, make sure all your records are up-to-date, estimating your profit, loss and tax liability for the year. Save all your receipts and expenses digitally, using your VA to help organize these by category. If you have an accountant or bookkeeper, schedule time to discuss where your business stands currently to determine your tax liability.
  • Consider your tax liability. Once you have reviewed your business tax situation, consider what can still be done before the end of the year to reduce your taxes. If your tax liability is high, you may want to consider making major purchases before the end of the year or doing other contributions that are tax deductible. If your tax liability is low, collecting any unpaid debts now may help start 2015 on a positive note.
  • 2015 marketing plan. If you have not already created a marketing plan and budget for 2015, make sure to add this to your checklist. Include all digital and traditional marketing, plus make sure to include your VA in your budget if you have them handle any of your marketing projects.
  • Holidays. If you still need to order holiday cards to send to your customers or need to throw a holiday party for your employees, your Virtual Assistant can help you with these items. Delegate these tasks to your VA and cross them off your list.

Whatever you have on your end-of-the-year checklist, you can count on your VA to help you get all this last minute tasks done. Take advantage of having an assistant that can take on these extra challenges when you have so many other obligations on your plate. It will help the end of 2014 go smoother, ensuring you are ready to start 2015 fresh.

photo credit: mt 23

Posted on December 8th, 2014 by Rachel Braam, Office Manager

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