Whether you are starting the 4th quarter of your calendar year for 2019 or you have just wrapped up your fiscal year, now is the time to find your accountant and other strategic partners and plan for the new year. Lardiere McNair can help individuals and businesses plan for the future. In addition to providing legal advice, we can assist you by coordinating with all of your strategic partners so you can have a complete understanding on how to protect your future.
Some end of year planning should include:
- Setting up a meeting with your insurance agent. What has changed? Do you have the correct coverage for your family and your business?
- Deciding if your will, trust or estate plan needs to be reviewed
- If you are a business, updating all of your employee files and records.
- If you are a business, plan your annual meeting with your accountant. Call your lawyer for a checklist of things to cover.
What individuals should talk with their accountant about:
- Am I withholding the correct amount from my compensation?
- Should I plan to make any deferred income contributions?
- What changed in the tax code or your circumstances in 2019 that may impact my taxes?
What businesses should talk with their accountant about:
- How is my business doing? What does my P&L Statement look like so far?
- Do any employees qualify for a bonus?
- Should I plan to pay my vendors and contractors in full by the end of the year?
- Scheduling a time to prepare your records for local, state and federal payr
- How should I use my cash on hand?
- Do my quarterly estimated tax payments for the year add up properly?
- Review all information about current and past employees in my payroll syst
- Confirm my tax deadlines – (these vary depending on the structure of your business).
Chris Lardiere is a founding member of Lardiere McNair, LLC. As part of his practice, Mr. Lardiere helps our clients plan and protect their individual, family and business future.