November To Do List
1. Ask your employees to review the information on their check stubs before year-end. Especially social security numbers, name spelling, and addresses. An incorrect social security number can cause several hundred dollars in penalties for eaxh instance plus rejection of your W-2s.
December To Do List
- Give us any missing or corrected employee information. This includes addresses, names, social security numbers.
- Give us any information on bonuses, taxable fringe benefits, auto reimbursements, health insurance premiums or any other information that will be needed to produce W-2’s.
- If you are a large tipping establishment, give us any information regarding completion of the Annual Return of Tip Income and Allocated Tips.
- Submit any information needed to prepare 1099-Misc & 1099-NEC Income for your contractors. Please note penalties for late 1099’s may be substantial!
- For any purchases or sales of businesses during year, we will need legal docs by now.
- Any new construction or major equipment purchases should be to us by now.
January To Do List
- Send us your Personal Property Tax Form when you receive it in December or January.
- Send us your new Unemployment rate when you receive it in January. There is a fee if we have to research your rate.
- Turn all 2025 bookkeeping before January 20. Any accounting work for Jan-Nov received after Jan 20 will be billed a premium due to being late.
- If you are liable under ACA to provide health insurance to employees you should have waivers signed and submit a list to Kallas. 1095-C are due to employees January 31.
- Don’t forget all Kallas fees need to be paid up to date to receive W-2’s and 1095-C forms.
- You should receive your 2025 tax organizer for personal income taxes. Complete and return to Kallas.
