Year End Checklist for the Self Employed

Now is a great time to take a quick look at your tax situation for this year as there is still time to make needed adjustments. Here is a short checklist:

  • žCheck your tax deposits to avoid underpayment penalties. Your final quarterly tax deposit is due on January 15, 2015.

  • Check your income. If more or less than you predicted some year in tax planning may be in order.

  • Check our expenses. Speed up or slow down your spending as needed.

  • Retirement planning, now is a good time to review your plan or start one.

Taking a few minutes now can improve your tax situation.