10 End of Year Tax Tips to Help Your Small Business

As we approach the end of the year, many small businesses are turning their attention to tax planning and managing their tax liability by the end of the year.

In this video, Hannah gives 10 tax tips to help small businesses plan and make SMART tax planning decisions that will help their businesses in the short and long term.

0:00 Introduction
1:41 Tax deadlines to put on our calendar
4:55 Why is filing your tax forms?
5:53 Know your basis of accounting
7:25 Spending to 'save' on taxes
9:35 Are you actions affecting profit?
10:57 Watch your cash!
11:55 Forecast your full annual financials
13:43 Tax planning meeting with CPA
16:24 Don't make $0 profit!
17:48 Stay aware and understand what you are doing

Videos mentioned in this video:

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(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)

Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.



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[alonzolopez]

Your are the Best. Missed you and your WISDOM AND PATIENCE AND KINDNESS

[aryanasmith]

Excellent videos!
Thank you very much for your hard work.

[joelnelson]

Welcome Back! Love the video edit upgrades!

[jdanois]

Hello, Excellent tips to think about at year-end. What do you think about becoming an S-corp and contributing to a SEP plan?

[architecturedrywallpaintan]

Did a job in December the owner paid me on the 3rd of January with a check he wrote in December and also send me a 10-99 for last year including the check he paid in January in it .did he make a mistake in his 10-99?