What to know
A year-end checklist for reconciliations, payroll, HST, shareholder loans, and a meeting with your accountant.
- Review financial statements and reconcile accounts
- Organize receipts
- Look at tax planning opportunities while the year is still open
- Review payroll
- Confirm HST balances
- Review shareholder loans
- Consider asset purchases carefully, with the tax result in mind
- Meet with your accountant before the year ends
Put it into practice
Bring income records, expense support, loan documents, payroll and HST information, and a list of owner withdrawals. That meeting is more useful than a box of unsorted receipts in April.
A note about this resource
This is general information for business owners in Ontario and the GTA. It is not tax, legal, or accounting advice for your file.