Introduction to Year-End Tax Strategies

     Checklist for Individuals

     Checklist for Businesses

>>Checklist for Payroll & 1099 Reporting

Be sure your payroll amounts agree on all reports (Federal and State) before you send them in.  If the amounts do not agree, you will be notified and will have to correct the situation (which takes much longer than doing it right the first time).  We have a reconciling worksheet available to help you with this step.

Remember to file 1099’s.  A Form 1099-Misc should be sent to all attorneys and each non-corporate contractor/vendor to whom you paid $600 or more for the year.  Other Form 1099’s may be necessary if you pay rent, interest or dividends. 

If you need help preparing payroll reports, W2s and/or Form 1099’s, please let Sue Johnson or Becky Belknap in our office know in early January. 

Note: Key changes exist for 2007 W2s!  Make sure your payroll software is updated for these new form changes.

 
Circular 230 Disclosure:  This is to advise you that, unless expressly stated, nothing in this communication (including any attachment or other accompanying materials) was intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding any federal tax penalties, or for promoting, marketing, or recommending a partnership or other entity, investment plan or arrangement to anyone.