Fourth quarter can be a busy time for businesses, so we suggest businesses begin in early August to plan the needed year-end tax processes.
Whether you are drawing columns on paper or assigning category names in computer software to record transactions, use a basic category list to separate your transactions. Our Tax Tracking List contains a complete list of categories.File your receipts as you receive them throughout the year in the appropriate categories.
Using a budget will assist you in tracking the flow and progress of your business by providing a visual statement of the business’ activities.
If you are planning the sale of your medical practice to finance your retirement, you may need to increase the value of your practice.