Capstone Certified Public Accountants Releases List of Important Due Dates and Information to Help with Year-End Bookkeeping

Capstone Certified Public Accountants is Committed to Helping Business Owners and Managers End 2023 in an Organized Way

BEND, Ore., Nov. 22, 2023 /PRNewswire/ — Lance Brant, Founder and Managing Partner of Capstone Certified Public Accountants, is pleased to announce that he has posted a new blog that covers a very important and timely topic: year end bookkeeping preparations.

To read the new blog in its entirety, please visit https://capstonecpas.com/year-end-bookkeeping-preparations/.

As Brant noted, he and everyone at Capstone Certified Public Accountants are devoted to making sure business owners and managers are aware of important due dates and information about year-end bookkeeping tasks.

This inspired Brant to post the blog, which offers helpful tips and advice on how to finish 2023 strong, while also looking ahead to 2024.

For instance, the blog includes upcoming deadline information and other reminders pertaining to IRS tax Form1099.

The due date for filing 1099-NEC Forms is January 31, 2024. Forms 1099-MISC are due February 28, 2024, if filed by paper, and March 31, 2024, if filed electronically. As a reminder, 1099-NEC is used for contract laborers and nonemployee compensation while 1099-MISC will continue to be used to report royalties, rents, prizes and awards, payments to attorneys, medical and healthcare payments, and other income payments.

The blog also includes helpful tips and advice for general year-end items, including:

  • LOANS – Business owners should contact all loan holders and request a statement in writing verifying the loan balance as of December 31, 2023 and interest paid during the 2023 calendar year.
  • CREDIT CARDS – If people use company credit cards, remember that charges on the credit cards through December 31, 2023 are deductible for income tax purposes even if they have not paid the credit card balance in full as of December 31, 2023. To capture those expenses, make sure those charges are keyed into QuickBooks and the balance in QuickBooks reconciles to the December 31, 2023 credit card balance.
  • INVENTORY – If businesses maintain inventory, an inventory count should be completed on or near the year-end. The final ending inventory balance should be adjusted accordingly.
  • MILEAGE – For the time being, the mileage rate for business is 65.5 cents. The IRS generally releases the inflation adjustments towards the end of the year, at around mid-December, and Capstone will update this information when they can.

As Brant noted, now is also a good time for business owners and managers to consider transitioning from Quickbooks Desktop to Quickbooks Online.

“Desktop has become a subscription-based software and the rates are much higher than Online. Please reach out to the bookkeeping department if you are interested in speaking further,” he said, adding that the friendly and experienced team at Capstone Certified Public Accountants is able to help with this task, as well as anything else related to taxes and accounting.

“Now is the time to do your year-end tax planning not just for your business, but for all aspects of your life. This includes tax planning for your business and household, financial planning, and legacy planning.”

With locations in Oregon, Washington and Idaho, Capstone serves clients throughout the Pacific Northwest, and beyond.

Our Oregon offices are located in:

Capstone CPAs Bend, Oregon Location

698 NW York Drive

Bend, OR 97703

541-382-5099

https://capstonecpas.com/our-offices/bend/

Capstone CPAs Redmond, Oregon Location

735 SW 9th Street

Redmond, OR 97756

541-548-3569

https://capstonecpas.com/our-offices/redmond 

Capstone CPAs Sisters, Oregon Location

257 S Pine Street

Sisters, OR 97759

541-549-1237

https://capstonecpas.com/our-offices/sisters/

Capstone CPAs Prineville, Oregon Location

180 NW 2nd Street

Prineville, OR 97754

541-447-6565

https://capstonecpas.com/our-offices/prineville/

Capstone CPAs Eugene, Oregon Location

2294 Oakmont Way

Eugene, OR 97401

541-484-5734

https://capstonecpas.com/our-offices/eugene/

Capstone CPAs Klamath Falls, Oregon Location

422 S 5th Street

Klamath Falls, OR 97601

541-882-6630

https://capstonecpas.com/our-offices/klamath-falls/

Capstone CPAs Medford, Oregon Location

3232 Hillcrest Dr.

Medford, OR 97504

541-779-6600                                                                                                             

https://capstonecpas.com/our-offices/medford/                                                                                                               

Capstone CPAs Lakeview, Oregon Location

411 Center Street

Lakeview, OR 97630

541-947-5006                                                                                                        

https://capstonecpas.com/our-offices/lakeview/

Our Idaho offices are located in:

Capstone CPAs Sandpoint, Idaho

1211 Michigan Street, Suite B

Sandpoint, ID 83864

208-265-2500                                                                                                         

https://capstonecpas.com/our-offices/sandpoint/

Capstone CPAs Bonners Ferry, Idaho

7177 Main Street

Bonners Ferry, ID 83805

208-267-1665                                  

https://capstonecpas.com/our-offices/bonners-ferry/                                                                                                                                     

Our Washington office is located in:

Capstone CPAs Seattle, Washington

1325 4th Avenue Suite #1430

Seattle, WA 98101

206-734-3780                                                                                                     

https://capstonecpas.com/our-offices/seattle/

About Capstone Certified Public Accountants:

Capstone Certified Public Accountants is a public accounting, consulting and advisory firm that combines deep industry experience with innovation. At Capstone, they truly want to be more than their clients’ tax preparers. They work with and support their clients by looking at all their financial strategies, holistically and cohesively, to benefit their families and businesses. Capstone helps their clients accumulate, grow and protect their wealth across a lifetime. For more information, please visit https://capstonecpas.com/.

Capstone Certified Public Accountants

698 NW York Dr.

Bend, OR 97701

(541) 382-5099

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SOURCE Capstone Certified Public Accountants

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