January is a busy month for accounting services and the business owners that they serve. There are lots of deadlines: annual and 4^th quarter payroll tax reports and 1099s by January 31^st. Most CPAs want all the information for your business income tax returns at least 30 days before tax filing deadlines, so that means February 15^th for corporations. Everything seems to come so fast that it really keeps you hopping!

Some things to remember:

• Don’t miss the deadlines – the penalties and interest add up really fast
• Even if you can’t pay your taxes, make sure you get the reports in on time
• Do a thorough general ledger review to catch any errors before filing reports
• Make adjusting journal entries as needed
• Review the changes to 1099 regulations – there are some significant ones
• Discuss tax law changes that apply to your business with your CPA

If you need help, get it from the experts. For a recommendation for an income tax preparer, contact us. We know lots of great CPAs who can help you!

And let us know if our team of highly-skilled accountants can help get you ready!