Advice, Preparation . . . Results™

QuickBooks Can Help Meet January 31 Tax and Statement Deadlines

Many small businesses find QuickBooks to be a great asset; just enter your income and expenses, and the program does the rest, right? Well, not exactly. QuickBooks does do a lot, but it still needs help and guidance from you.

Here are some things that should be done before the end of January each year:

W-2s and 1099s must be mailed by January 31. Before preparing them, double check that social security numbers and addresses are correct.

  • Review your list of contract staff and confirm that they’re set up to receive 1099s.
  • Be sure your general ledger account is arranged to produce 1099s for all eligible vendors.
  • Reconcile all your bank and credit card statements.
  • Identify any new fixed assets by indicating what was purchased in the memo area.
  • Gather year-end statements on all banking, loan and investment accounts to give your tax preparer with your QuickBooks file.

We hope your 2013 started well and isn’t hindered by tax preparation. If we can help make this tax season your easiest one yet, let us know: Office@CPAsite.com or 904-396-5400. We can help you relax…by putting another tax year behind you.

« »

What Our Clients Are Saying

My primary reason for doing business with Tim is the feeling of trust I’ve always had.  
Kimberly Ashley, Kim Smith Writes

Frequently Asked Questions

Q.

What do banks consider when reviewing a loan request?

A.

The bank’s primary concern is repayment. Many loan officers will order a copy of your business credit report, and perhaps your personal report, to determine your likelihood of repaying. Using...

Read more...

Locations

4029 Atlantic Boulevard, Jacksonville, Florida 32207
6000-A Sawgrass Village Circle, Suite 1, Ponte Vedra Beach, Florida 32082

 

Copyright © 2019 Patrick & Raines CPAs, LLC.
All rights reserved. Privacy Policy | Terms of Use