Be prepared for a smooth end of year. Make sure you're ready for your taxes and compliance, and feel confident you have your ducks in a row.

<div data-offset-key="a7upv-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="a7upv-0-0" style="font-weight: bold; display: inline;"><span data-text="true">Get organized with your year end Finances</span></span></div>

<div data-offset-key="91bjp-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="91bjp-0-0" style="font-weight: bold; display: inline;"><span data-text="true"> </span></span><a title="https://flowlab5.org" href="https://flowlab5.org" target="_blank" class="" decoratedtext="FLOWLab⁵" start="1" end="9" blockkey="91bjp" offsetkey="91bjp-1-0"><span data-offset-key="91bjp-1-0" style="font-weight: bold; display: inline;"><span data-text="true">FLOWLab⁵</span></span></a><span data-offset-key="91bjp-2-0" style="font-weight: bold; display: inline;"><span data-text="true"> and </span></span><a title="https://startwithflow.com" href="https://startwithflow.com" target="_blank" class="" decoratedtext="coFLOWco" start="14" end="22" blockkey="91bjp" offsetkey="91bjp-3-0"><span data-offset-key="91bjp-3-0" style="font-weight: bold; display: inline;"><span data-text="true">coFLOWco</span></span></a></div>

<div data-offset-key="fh6r4-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="fh6r4-0-0"><span data-text="true">🗓️ BEFORE DECEMBER 31</span></span></div>

<div data-offset-key="4ncg-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="4ncg-0-0"><span data-text="true">Income &amp; Expenses</span></span></div>

<div data-offset-key="3mmm9-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="3mmm9-0-0"><span data-text="true">Reconcile all bank accounts and credit cards</span></span></div>

<div data-offset-key="cp9md-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="cp9md-0-0"><span data-text="true">Review and categorize any uncategorized transactions</span></span></div>

<div data-offset-key="rskb-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="rskb-0-0"><span data-text="true">Send final invoices for work completed this year (so it counts as 2024 income)</span></span></div>

<div data-offset-key="fcij6-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="fcij6-0-0"><span data-text="true">Collect on any outstanding invoices before year-end</span></span></div>

<div data-offset-key="b0cfm-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="b0cfm-0-0"><span data-text="true">Download annual statements from PayPal, Venmo, Stripe, Square, etc.</span></span></div>

<div data-offset-key="dsvch-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="dsvch-0-0"><span data-text="true">Deductions &amp; Write-Offs</span></span></div>

<div data-offset-key="ei8eb-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="ei8eb-0-0"><span data-text="true">Gather receipts for business expenses (digital or paper)</span></span></div>

<div data-offset-key="balhb-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="balhb-0-0"><span data-text="true">Review subscriptions—cancel what you're not using (and deduct what you are!)</span></span></div>

<div data-offset-key="edi1t-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="edi1t-0-0"><span data-text="true">Make any last-minute business purchases you've been delaying</span></span></div>

<div data-offset-key="5o8c0-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="5o8c0-0-0"><span data-text="true">Document home office square footage if claiming home office deduction</span></span></div>

<div data-offset-key="fg82u-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="fg82u-0-0"><span data-text="true">Log business mileage for the year (IRS rate: 67¢/mile for 2024)</span></span></div>

<div data-offset-key="10q3f-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="10q3f-0-0"><span data-text="true">Retirement &amp; Savings</span></span></div>

<div data-offset-key="fef56-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="fef56-0-0"><span data-text="true">Max out retirement contributions if possible (SEP-IRA, Solo 401k, etc.)</span></span></div>

<div data-offset-key="ctlou-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="ctlou-0-0"><span data-text="true">Review health insurance costs for potential deductions</span></span></div>

<div data-offset-key="39hvl-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="39hvl-0-0" style="font-style: italic; display: inline;"><span data-text="true">Remember to ask for feedback (Reviews, ratings).</span></span></div>

<div data-offset-key="7ouau-0-0" class="public-DraftStyleDefault-block public-DraftStyleDefault-ltr"><span data-offset-key="7ouau-0-0" style="font-style: italic; display: inline;"><span data-text="true">Like this list?? </span></span><span data-offset-key="7ouau-0-1" style="font-style: italic; display: inline; font-weight: bold;"><span data-text="true">PLEASE share it. </span></span><a title="https://buymeacoffee.com/orteacoflowco" href="https://buymeacoffee.com/orteacoflowco" target="_blank" class="" decoratedtext="Buy me some tea" start="34" end="49" blockkey="7ouau" offsetkey="7ouau-1-0"><span data-offset-key="7ouau-1-0"><span data-text="true">Buy me some tea</span></span></a><span data-offset-key="7ouau-2-0" style="font-style: italic; display: inline;"><span data-text="true"> or </span></span><a title="https://www.flowlab5.org/sponsorship" href="https://www.flowlab5.org/sponsorship" target="_blank" class="" decoratedtext="donate to FLOWLab⁵" start="53" end="71" blockkey="7ouau" offsetkey="7ouau-3-0"><span data-offset-key="7ouau-3-0"><span data-text="true">donate to FLOWLab⁵</span></span></a><span data-offset-key="7ouau-4-0"><span data-text="true">.</span></span></div>

End of Year Finance Checklist for The Collective

Be prepared for a smooth end of year. Make sure you're ready for your taxes and compliance, and feel confident you have your ducks in a row.

Get organized with your year end Finances

FLOWLab⁵ and coFLOWco

🗓️ BEFORE DECEMBER 31

Income & Expenses

Deductions & Write-Offs

Retirement & Savings