10 End of Year Tax Tips to Help Your Small Business

Рет қаралды 5,879

Күн бұрын

As we approach the end of the year, many small businesses are turning their attention to tax planning and managing their tax liability by the end of the year.
In this video, Hannah gives 10 tax tips to help small businesses plan and make SMART tax planning decisions that will help their businesses in the short and long term.
0:00 Introduction
1:41 Tax deadlines to put on our calendar
4:55 Why is filing your tax forms?
5:53 Know your basis of accounting
7:25 Spending to 'save' on taxes
9:35 Are you actions affecting profit?
10:57 Watch your cash!
11:55 Forecast your full annual financials
13:43 Tax planning meeting with CPA
16:24 Don't make $0 profit!
17:48 Stay aware and understand what you are doing
Videos mentioned in this video:
Estimated Tax Video: • How to calculate estim...
Interview with Greg Crabtree, "Simple Numbers" Author: • Interview with Simple ...
CPA, EA, or Bookkeeper: • What's the difference ...
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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Пікірлер: 21

@user-pp8ly2wn6t 25 күн бұрын

It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.

@alonzolopez6264 Жыл бұрын

Your are the Best. Missed you and your WISDOM AND PATIENCE AND KINDNESS

@ClaraCFO Жыл бұрын

Thank you Alonzo!

@aryanasmith4426 Жыл бұрын

Excellent videos! Thank you very much for your hard work.

@ClaraCFO Жыл бұрын

Happy to help, thank you for watching!

@joelnelson1682 Жыл бұрын

Welcome Back! Love the video edit upgrades!

@ClaraCFO Жыл бұрын

Thanks Joel! My editor really nailed it!

@samshutt4359 Жыл бұрын

Thanks for sharing

@ClaraCFO Жыл бұрын

Thanks for watching!

@KK-pm7ud Жыл бұрын

Welcome back. You look great.

@ClaraCFO Жыл бұрын

Thank you so much 😀

@amandita108 Жыл бұрын

Great content, thanks!

@ClaraCFO Жыл бұрын

Thanks for watching! 🙌

@jdanois2655 Жыл бұрын

Hello, Excellent tips to think about at year-end. What do you think about becoming an S-corp and contributing to a SEP plan?

@ClaraCFO Жыл бұрын

Becoming an s-corp is definitely not a great idea as a year end tax planning strategy for a number of reasons. But it could be a good thing to talk to you CPA about for the next year. Any pre-tax retirement contribution could be a good idea if you have the excess cash! But just be confident about your cash flow and make sure you understand the deadlines.

@alonzolopez6264 Жыл бұрын

Your Hair Looms So Pretty

@ClaraCFO Жыл бұрын

Haha thank you!

@architecturedrywallpaintan5809 Жыл бұрын

Did a job in December the owner paid me on the 3rd of January with a check he wrote in December and also send me a 10-99 for last year including the check he paid in January in it .did he make a mistake in his 10-99?