Wednesday, December 19, 2012

Year End Information


Here are some Year End things that you need to be preparing for by December 31, 2012:

Ø Inventory Count:
  • o If you carry inventory for Resale you MUST do an Inventory Count at least once a year and if you have not done one already please make sure that you do this by the end of the year

Ø W-9-s
  • If you have not already sent me the W-9’s for your Landlord, Sub-Contractor(s)/Independent Contractor(s), Attorney, Professional Services etc please send this information to me ASAP as we are getting ready to work on the 1099’s very soon. We will start to issue the 1099’s in January and once we prepare them and if you have changes we will be charging a $25 per 1099 fee so please get this to us ASAP and avoid the extra fee.
  • I would highly recommend that you obtain W-9’s from the appropriate people BEFORE you pay them in the future and make sure that review the information on the W-9’s for accuracy and if you are not sure please call our office and we can walk you through this.

Ø Rate Sheets for 2013
  • If you have payroll you should have received, or will be shortly receiving, the 2013 Rate Notices from L&I and Employment Security, once you receive them you need to send them to ADP, Paychex or whomever does your Payroll. Please do NOT send them to us as we are not doing the payroll and we are going to be forwarding them to your Payroll Company anyways. Our busy time has started and we want to make sure that your Rate Sheets get to the right place in a timely fashion.

Ø Ask Client questions:
  • If you have any “Ask Client” questions that need to be completed, please do so ASAP so that we can prepare Year-End reports in a timely fashion and then start working on your Tax Return(s) so that you do not have to wait. A little planning now will save a lot of headaches come February through April.

Ø Sales Information:
  • Please get us your Monthly Sales information for November ASAP and December’s Sales information to us by NO LATER than January 10th, 2013 please.

Ø Outstanding Issues:
  • If there are any outstanding issues besides the above please try to get them resolved with us at your earliest convenience so that they do not become bigger issues come Tax Time.

I wanted to thank each and everyone one of you for another fantastic record year we have had. We wish all of you Happy Holidays and an even Happier and more prosperous New Year from all of us here at NW Accountants, Rizwan, Emily, Adriana and Erv.

As always if you have any questions or concerns please feel free to contact us.


Best Regards,

Rizwan Chaudhry
NW_Accountants_LogoJPG
19009 33rd Ave W Suite 203 Lynnwood, WA 98036
Phone:425-778-2665 | Fax: 425-678-0059
Email: rizwan@nwaccountants.com | http://www.nwaccountants.com