1. Make sure you have up to date W-9 forms for all vendors who provide services to your business. 1099’s will need to be mailed out no later than January 31, 2022 to any vendor who is not a corporation if you pay them $600 or more cumulative for the year.
  2. Create all W-2 forms for employees and mail out no later than January 31, 2022. Be sure to create all quarterly payroll forms needed (state, ESC, fed).

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3. For NC employers, have all employees complete a new NC-4 or NC-4 EZ form (for payroll withholding) before you create the first payroll in the new year. Go to https://www.dor.state.nc.us/downloads/wh_forms.html for copies of the forms.

4. Update your ESC rate in your QuickBooks file or give to your payroll provider before the first payroll.

5. Review your QuickBooks (or other accounting system) file for accuracy. Make sure all bank, loan and credit card accounts are reconciled through the end of the year.

6. Give your CPA your financial data early to complete your taxes in a timely manner.

7. Develop your strategic action plan for 2022.

8. Develop a financial (and non-financial) dashboard to track your action plan.

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