As of today, October 9th, there are 84 days left in 2024! solidCore CFO invites you to reset your company’s growth plans in Q4 and set the stage for a successful 2025. A holistic, year-round approach to year-end planning can eliminate many headaches. Year-end is a busy period—not only are you organizing financials, but you’re also evaluating performance, measuring success, and exploring new growth opportunities. It can be overwhelming. We understand the challenges. That’s why we recommend a comprehensive approach that goes beyond your financial statements. Here are key areas to focus on:
Tax Planning & Compliance
Ensure timely filing of individual and business tax returns.
Assess how proposed tax legislation might impact your situation.
For businesses with over 50 full-time employees, ensure the filing of appropriate 1094 and 1095-C forms.
Consult your tax advisor to benefit from all available tax credits and deductions.
Technology
Regularly review and update your technology systems.
Explore additional options to stay current with innovations.
Ensure your tech allows for remote or hybrid work environments.
Cybersecurity
Protect your systems, data, and business reputation.
Identify potential cyber threats.
Train your staff to prevent cybersecurity breaches.
Human Resources
Review your employee handbook for compliance with federal and state laws.
Assess if there are roles that you can outsources.
Do you have the right people in the right seat?
Keep personnel files organized and up-to-date.
Outsourcing Needs
Evaluate if it’s time to outsource payroll and bookkeeping.
Do you need a fractional CFO and business advisor to help you scale and stay financially fit?
Consider hiring an outsourced CFO consultant to aid business growth.
Exit Planning
Start planning at least five years before intending to sell.
The more time you have, the better price you likely will get.
Consider the tax implications of a sale or purchase.
This is a brief overview of year-end considerations and planning methodologies. If you need assistance, solidCore CFO is here to support you. Email, LindaHammons@solidcorecfo.com