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Prepare For Corporate Year-End With This Beginner’s Guide

Whether you need to file the documents at the last minute or have to maintain a year-round record of your business activities, it's crucial to focus on getting the business ready for the year-end.

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Prepare For Corporate Year-End With This Beginner’s Guide

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  1. Prepare for Corporate Year-End with This Beginner’s Guide Whether you need to file the documents at the last minute or have to maintain a year-round record of your business activities, it's crucial to focus on getting the business ready for the year-end. To ensure your year-end goes smoothly, Castlemore Accounting Services has formulated this beginner’s guide to make you get ready for the corporation year- end. Here’s How to Get Started Keep track of your expenses: It’s important to recognize and organize your financial documents and related information throughout the year, instead of gathering it all at once. Keep a systematic folder for expenses like meals, travel, materials, phone calls, and subcontractors. It can help your accountant and it lowers your accounting service invoices. Steps to Follow Find an accountant to work with: Hire an accountant to benefit your business at various stages of growth. They’ll help you with your business plan, loan application, company formation, and many more. Submit These Documents to Maintain Bookkeeping For Your Business An e-copy of your bookkeeping records for the current year and the password needed to access the information. Financial statements like income tax return Caledon, balance sheets, and cash flow statements for the year. Payroll records of the employees.

  2. Asset disposals or additions like vehicles, equipment, and land during the year. Details about a home-based business. Expense information about motor vehicles. Notice of assessments and income tax instalment assessments. When your accountant handles the bookkeeping throughout the year, you have to provide invoices, final batches of reports, and bank statements for the company. But if you meet your accountant at the end of the year, you must prepare all your documents in advance and bring them at the earliest. Castlemore Accounting Services can meet all your accounting, income tax return Caledon, and financial needs with professionalism and the highest level of accuracy. Contact Thami Rajalingam Castlemore Accounting Services 251 Consumers Road Parkway Place, Suite 1200, Toronto, ON, M2J 4R3, CAN +1(416) 814-7427 info@castlemoreaccounting.ca https://www.castlemoreaccounting.ca/caledon/personal-tax-return/

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