As the financial year closes, it’s time to prepare your books for the IRS and investors. Whether you’re running an LLC or C-Corp, year-end accounting is about accuracy, compliance, and financial clarity. 1. Reconcile All Accounts Ensure your bookkeeping matches your bank, Stripe, and PayPal statements. 2. Categorise Every Expense Label all business expenses correctly from software subscriptions to shipping. Remember, deductible expenses lower your taxable income. 3. Review Payroll and Contractor Payments Ensure all Form W-2s (employees) and Form 1099-NECs (contractors) are issued before year-end. 4. Prepare and File Annual Reports Most states require annual reports or franchise tax filings to maintain good standing. Examples: Delaware Franchise Tax due by March 1st Wyoming Annual Report due on the anniversary month 5. File Federal Taxes LLCs: File Form 1065 (if multi-member) or include income on personal returns (single-member). C-Corps: File Form 1120 and pay corporate tax by April 15th. 6. Plan for the Next Year Use your P&L and balance sheet to set new budgets and KPIs for 2026. Final Thoughts Year-end accounting isn’t just about compliance it’s your financial health check. Startitup Global helps global entrepreneurs close their books efficiently, file on time, and plan strategically for the year ahead.
