It’s the end of 2018…and what a year it was. As an entrepreneur the year was probably filled with some highs, some lows, and a lot of hard work. It’s important to take some time for yourself to refresh your spirits and re-energize your drive for the next year.
In order to rest more soundly over the break, we asked Catalyst Supervisor Melissa for a few tips to consider when you’re wrapping up the year. Here’s what she came up with from a financial standpoint:
- Catch up on your bookkeeping so that it’s all ready for your accountant.
- If you are in a home office, prepare all of your home office expenses. This can include electric, water, heat, mortgage interest, internet, and more.
- Make sure your mileage information is ready. This includes kilometers used for your business, gas, insurance, maintenance, and more.
- Ensure you have put some money aside for income taxes, if not, start saving now! Personal Income tax must be paid by April 30th.
- For sole proprietors income tax returns are due June 15th, however taxes must be paid by April 30th to avoid interest.
- If you are curious and want a quick tax estimate, call your trusted advisor.
- Start a folder for all of the income tax statements that will be coming in.
It’s also a time to get organized. Decluttering your space will also declutter your mind. Clarify the business you are trying to build and energize yourself for a new year that is going to be even better than the last. Remember we are here for you every step of the way.
You can contact Melissa at 403-750-7689.