End of year accounting reminders – mileage and inventory
Time for two critical end of year accounting tasks: mileage and inventory.
Use your vehicle for business? Write down your mileage at the beginning of the year. Learn more about deducting business use of your vehicle.
Sell products? Take an inventory of all products on hand at the turn of the year. Make products? Inventory your raw materials. Learn more about inventory and cost of goods sold.
Happy New Year! Take the actions now that will make it a great one in your business.
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Becky started Small Biz Survival in 2006 to share rural business and community building stories and ideas with other small town business people. She and her husband have a small cattle ranch and are lifelong entrepreneurs. Becky is an international speaker on small business and rural topics.
