January 2020 is already here and that means we will soon be working on your year end bookkeeping and getting it ready for preparing tax returns. Following are four tips for you to get ready for your Year End Bookkeeping.
Please make sure the following has been done before the end of the year and is turned in with your bookkeeping....
Mileage - If you use your own car and claim mileage please make sure you have paid all of 2019 mileage by check to yourself by 12/31/19. 2019 rate = .58c per mile.
Inventory - If you carry inventory please do an inventory count of each item at cost on 12/31/19.
Home Office - If you work from your home office and Diane gave you an accountable plan please have this filled in for 4th quarter.
Year End Bonus Checks - Those of you who take a year end bonus check to cover possible taxes owed please make sure you bring in your Nov and Dec bookkeeping ASAP.
Soon we will be sending out a letter to those with employees and self employed workers asking you to check or provide their names (per soc. Sec. card) SSN, and addresses. You will also get a letter showing your current Assets on our books. Please make any amendments, sign and return to us asap.
Wishing you all a very happy holiday!
Miksch & Company, CPA, PA
249 43rd Avenue
St. Pete Beach, FL 33706