Year-End Planning For Businesses & Individuals
November is a time to reflect on what we are all grateful for in this world. At Brannen CPA Services, we are extremely grateful for you - our clients! Our goal is to offer you sensible solutions and superior service. As part of that, November is also a good time to start your year-end planning. In this article we’ll review some tips to help you close out 2024 in a strong, positive position.
Reach Out!
We’ve heard from some of our clients that they are unaware they can reach out to us for help with year-end planning. We love helping our clients find their strength in numbers and we are always here to help. If you have questions or need help making a plan, please engage us!
Get Organized!
Getting all your 2024 receipts and files organized will help you be prepared for filing your 2024 taxes. Reviewing and organizing your files may also flag questions you may have about your finances and taxes. For example, have you maximized your retirement contribution, health flexible spending arrangement (FSA) and charitable donations for the year? Having your files in order gives you a better sense of your financial health, which is always a smart position to be in.
Review Your Paychecks!
Paychecks contain valuable information about your tax withholdings. We talked about the importance of reviewing your paychecks regularly over the summer, and now that we’re reaching the end of 2024, it’s another good time to review! Confirming that your earnings are correct will help you avoid any unexpected tax bills. You can always use the IRS’s Tax Withholding Estimator to help you determine if you need to adjust your tax withholdings or if there are other steps to take.
Let’s keep you on track with your financial goals for 2024! Call our office so we can help you take stock and make a plan that gives you a peace of mind this time of year. If you have questions or need to update the BCS team about some recent changes, please give us a call at 207.271.9600. We’re here to help you thrive!