There are some urgent end-of-year tasks all entrepreneurs should take care of. Make sure you don’t drop the ball so you can go into every new year on the right track. Here are 4 tasks to check off your list:
1. Make any last-minute business purchases
Every entrepreneur should check with their CPA and see if you are close to qualifying for being in a lower tax bracket. If you are, making some much-needed office purchases could be a great idea because it lowers your profits at the end of the day. You can get new laptops, printers, tablets, office furniture and other goodies for work only. Plus, it’s the season for great deals, so you can probably get more for the same price.
2. Donate instead of giving gifts
An entrepreneur can also move into a lower tax bracket and increase the number of your deductions by donating to 501(c)3 organizations. In fact, you can give these donations as gifts (many of them come with an “experience” such as a safari when you donate to a local exotic animal zoo) and get good karma points, a tax write-off, and a genuine thank you to boot.
3. Write handwritten cards to your clients
For some entrepreneurs, such as service providers, sending a heartfelt, handwritten holiday card is an effective way to increase business in 2015. Your clients want to feel appreciated by you,” says Kristy Rampton, an entrepreneur who sells baby clothes. “It sets you apart from the competition, too. You can even hire a handwriting service to take care of the grunt work for you and then write off those services.”
4. Give your office a deep cleaning
Even if you have regular office cleanings scheduled, it’s time for a deep clean to go into the New Year with a clean slate, literally. At the same time, schedule any appliance inspections that may be overdue. This ensures your appliances (such as the fridge in the break room) are functioning well and reducing energy consumption.
It’s without a doubt the most wonderful time of the year for many entrepreneurs out there–but are you capitalizing on it? You still have a few days to make 2014 the best it can be. Try taking care of some basics that, although they may seem unimportant in the grand scheme of things, can increase how happy you are–as well as your employees and your customers.