It’s just shy of the end of June, so six months of the year are almost complete. I suggest to my clients having a check-in with their CPA at least two times a year; once about mid-year, and once in the late fall.
It’s a time to review what is happening in your business and see if any adjustments are needed to meet your goals. Based on what you find, you can make adjustments to prepare for a change in taxes due based on your profitability.
If you set a goal for the business in terms of revenue, how are you doing in relationship to that figure? If you are at 50% or better, that’s great! How much over your goal are you? Is this going to impact your taxes? Do you need to alter your estimated tax payments (if you currently have to file) to avoid owing a large amount later? Continue reading “Mid-Year Bookkeeping Check-In”