As we approach the end of 2022 it is time to think about your year-end financials. Are they reliable and up to date? Can you count on them for data-driven decisions? Up-to-date financials will help you reduce your tax burden by having your information at your fingertips and reduce the cost of working with your CPA firm because they can concentrate more on tax savings and less on making sure your numbers are accurate.
Closing your books at the end of December should be no different than any other month if your books are accurate and up to date! This will also mean that you will be ready for an IRS audit by one of the 87,000 new employees they are in the process of hiring which the Inflation Reduction Act has foundered.
For more information on what is required of a business at year end please read this article.
Matchbooks are a virtual bookkeeping, consulting and business brokerage company. We help companies like yours make more informed decisions, increase cash flow and improve daily operations. For more information, contact Joel Nimar at consulting@matchbooksusa.com.