quick reminders for year-end (in addition to the regular tax planning/implementation):
S- Corp Shareholders – reminder to review your year-to-date salary and run payroll before 12/31 if needed (reasonable salary OR retirement deferral true-up).
All business owners – if you are making the PTE (passthrough entity election) for this year, this is a reminder to estimate the state liability and pay in by 12/31 if it makes sense to do so. Also be sure to review upcoming expenses for paying down profit. Don’t forget about estimated tax liability as well (including safe-harbor minimums).
These items can fall under planning objectives, please reach out if clarification or discussion is needed. If we already have a meeting on the calendar, we can review these items at that time. If your schedule is not lining up with Brian’s calendar availability, reach out directly for assistance. Email is typically fastest for response time.