We are in the Fourth Quarter of the calendar year. That means that all the stuff that needs to be done by December 31, 2024 are coming due really soon. Many, however, don’t realize that until around Thanksgiving, and then it is a mad dash. It doesn’t have to be that way.
Here are some easy things to check off your list now:
- Did your business file its Annual Report?
- Yes, if you are an LLC or corporation in Wisconsin, you have to file something every year with the Department of Financial Institutions saying that you are still alive and kicking. Other states have different requirements that are usually administered by the Secretary of State. Don’t know if you’ve filed? Check the DFI or Secretary of State website. Not sure what you’re looking at? Ask your lawyer or accountant to help you out.
- Have you filed your BOI? That’s the FinCEN’s Beneficial Ownership Information reporting requirement.
- Even if you are a single member LLC, you have to file it. Even if you created your business years ago, you have to file it this year. Even if you created your company this year, you have to file it. Notice a trend? Not sure what’s up? Click here. We have lots of information for you.
- Thinking of bringing on new owners? Or having a few retire? Pretty please let your professional advisor team know now. Already had owners come or go this year? Get your capital tables or stock registers updated. Future you will thank you.
- Get your books in order. Tax time is “so far away,” but it isn’t. Those receipts aren’t going to be easier to find later, and maybe you’ll even find some deductions or two.
We can help you with 3 out of the 4. We are not bookkeepers. Trust me on that, but it is always my one of my biggest pieces of advice. Get your books in order. Current you will thank you on that. Future you will fawn over how smart you were to do so now.
Once you have those four things completed, you can work on strategic planning for 2025!