As 2020 draws to a close, it’s a great time to review your business and personal finance end of year checklist to make sure you are finishing up the year strong and setting up for success next year. Be proactive, as it’s essential for long term, sustained growth. Below are two simple checklists that can help any business or individual have a better start to the 2021 New Year.

Business Year End Review Check List:

  • Balance Sheet – Profit and Loss
  • Bank Statements
  • Account Recieveable
  • Accounts Payable
  • Inventory
  • Payroll Records
  • 1099’s, if applicable
  • Reconciliations
  • Tax Planning & CPA Review

Individual Year End Checklist:

  • Capital Gain or (Loss) Harvesting
  • RMDs
  • IRA Contributions
  • Maximize/Increase 401(k)
  • Rollovers
  • Roth Conversion
  • Gifting
  • 529 Contribution
  • Life Changes

With the hustle of year end, don’t forget to take some time for your business and personal finance housekeeping. This time will be well spent getting in good shape both professionally and personally for the New Year ahead. Following the checklists above will help you take inventory in order to make changes, plan for the coming year and keep you on track to have one of your most successful years to date.

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