It’s hard to believe that this time next week the turkey will be leftovers, the football scores will be final and the countdown to the end of the year will have begun. Time is moving faster and faster, which means it’s time to get those business and tax plans in order!
Our office has seen a huge uptick in people looking for information, solutions, business changes, new business entities, trust sandwich set-ups and tax planning solutions. The work to be done may vary, but the desire is uniform “Can we get this done before the end of the year?” Our answer is, “Yes, but you need to move now.”
The biggest issue you’re facing is the thousands of other people thinking about and wanting the same thing. That means longer lines at the Secretary of State offices around the country, county recorder’s offices, and so on. People will be working holiday hours, and staff will be coming and going. Many government offices are trying to save money by cutting staff, not allowing overtime, and requiring people to use up outstanding vacation time (so it doesn’t have to be paid in cash). Even the folks who are working are bound to be at least somewhat distracted by their own holiday plans and to-do lists, holiday closings,
All of this could add up to a problem if you wait too long to get those long-delayed business filings and changes in order. Perhaps you need to make a last-minute tax election, start a new business structure, bring an old business into compliance or close one up to avoid any 2009 fees (Californians especially take note).
Whatever you’ve got on your to-do list … somewhere between the turkey on Thursday and the final piece of pumpkin pie on Sunday evening, spare a few minutes to think about what’s outstanding and what steps you need to take.