Year-End Business Tax Report Card — Did you make the grade?
Many businesses take a breath after March 15th when 4th quarter taxes and 1st quarter estimates are no longer weighing heavily. However despite what may seem like a reprieve, it is also a good time for reflection and planning ahead for next month, quarter and even year. Considerations might include…
- Implementing a retirement plan
- Utilizing tax-free fringe benefits
- Evaluating business entity type
- Strengthening business banking relations
- Establishing a line of credit
These are just some of the areas companies can assess in order to optimize their business planning. Other internal checks including a year-over-year review of 1st quarter. How do profits compare? Are there any dramatic changes expected in revenue or expenses?Should credit cards be used for payments to improve cash flow?
All these questions and more center around one core premise – it’s never too early to start planning – and a member of the RSCO team is available to help.