2020 has eerily flown by and been full of challenging times. Times of change, technology, and solitude, times we hope we were all able to find some optimism to reflect on, learn from, and rise above.
Q4 is the perfect time of year to start your end of year review.
We have created a guide to help you get one more win under your belt for 2020 and be more than ready but anxiously awaiting your success in 2021.
Step 1 - Finances and preparing for taxes.
Getting a good handle on your numbers now allows you to implement a lasting tax strategy before the scramble of the new year begins.
● Create an e-folder on your cloud and a hard copy named 2020 Finances.
● If you work with vendors/contractors, prepare your 1099 form.
● Collect outstanding balances owed.
● Pay outstanding, dues, fees.
● Make any last-minute business purchases and investments and write them off this year.
Pro tip -
Work with a bookkeeper ( we have one for you ;) cascadevirtual.com ) to keep you organized and prepared for your CPA.
Step 2 - Focus on the results of your 2020 goals.
Always keep in mind, 2020 has been a challenging year, to say the least - BE KIND TO YOURSELF…..YOU MADE IT!
Pro tip -
Create a spreadsheet broken down by quarter.
Stayed tuned for our blog on Preparing for 2021. Although the holidays may look a bit different this year, take the time to have gratitude for what you do have and for what is to come. It ain’t over, till it’s over!