For HR departments, the start of a new year brings a flurry of tax filings and end-of-year reports. After a holiday break, it can be difficult to ramp up this level of work quickly. This is why it’s a good idea for HR departments to take care of as much of their year-end accounting as possible before January.

With so much to do, it can be tough to get started. With this checklist, your team can plan ahead and avoid any difficulty.

Checklist for 人力资源 to Get Ready for Year-End

  1. 向供应商和承包商付款: Always be sure to pay your vendors and contractors in full by the end of the year. Check with your accountant to see if your contractors need to submit a W-9 form. By January 31, each contractor should have also received a 1099-MISC form.
  2. 审查客户: Review client contact information, and confirm that all details are correct.
  3. 审核所有员工: Be sure to verify that your payroll contains only current employees and that their information is correct. Ensure that previous employees cannot access company systems.
  4. 合规报告: Send applicable year-end compliance notices, and prepare 1095-C表格用于ACA报告.
  5. 准备工资记录: 开始收集这些信息. 如果你和 就业专家 比如LBMC Employment Partners, we’ll ensure that there are no issues and that you comply with all regulations. Be sure to review FLSA status to ensure you are still meeting any 新《ag怎么注册》的规定阈值.
  6. 损益表: 制作利润和亏损报告, 以及资产负债表, and identify what your business did well and what could be done better for next year.
  7. 回顾盈利能力: Generate an income statement and review each revenue-generating item, as well as each tax-deductible expense. Cash flow reports are vital documents for your business, as they indicate how much cash your business has readily available.
  8. 估计税: 如果你 支付税款 quarterly, be sure to keep track of what you’ve already paid. This will help you determine what you’ll need to pay at the year’s end. Don’t forget to include taxes from bonuses given to employees, as these are also subject to any taxes applicable to regular pay.
  9. 纳税期限: 根据 企业结构,缴税日期将有所不同. 验证你的最后期限.
  10. 税款: Keep tax payments secured separately, and be sure to include enough to cover both state and federal taxes.
  11. 目标: Review what you were able to accomplish this year, and develop goals for the next year to keep you motivated and growing.

If preparing your year-end financial reports seems daunting, LBMC Employment Partners can help. We can advise your company on everything from payroll to taxes or even take over your system entirely.

We at LBMC Employment Partners are here to help your company prepare for the new year. ag怎么注册 今天!