It’s that time of year again. To hell with the holiday festivities; we’re
talking about your business accounting. If you’ve been a slack with the
bookkeeping this past year, get ready for some sleepless nights. It’s time to
get your fiscal house in order before Uncle Sam pays a visit.

Sure, you have some time till taxes are due, and you may even be able to file
for an extension; but Uncle Sam looks at the financial state of your company
for the calendar year. Those expenses or allocations have to be on
the books before you watch the ball drop.

Essentially, you have to review and categorize the past year’s expenses.
Make sure you’ve accounted for every dime that has flowed into or out of
the company. It’s all too easy to lose track of this while you’re busy
making money.

Most importantly, see your accountant. If you’ve turned a
healthy profit, they may have some ideas on how to invest the money. (Hint:
have you put any away for retirement?) -or if you’re in the red, they may have
some ideas on how to handle the loss. Most importantly, they can check your
figures and catch potential red flags before Uncle Sam does.

You do have an accountant, right? If not, hit up your trusted
colleagues for recommendations, and pray their pick has a slot for slackers
such as yourself.

Congrats to those who have already had The Talk(tm) with their accountant. Good
on you. To the rest of you sloths, the clock is ticking.