
Listen on Apple | Spotify | YouTube | Android | Google
There is a lot that goes on with finances at the end of year, and it's important to stay on top of it. In this episode, I am going to give you 11 key finance tips to consider as you wrap up your business year. Make sure to tune in as I share tax and bookkeeping tips, including how to calculate your mileage, how to transition to new programs, what to do with inventory and the ever-popular question of whether you should buy a bunch of things before the year ends in order to lower your tax bill.
Want to create a more profitable business in 2023? Then you need to do a year-end review and plan out your money moves! Download my free Year End Review Workbook (and check out episode 43 for a walkthrough) to review what worked in 2022 from a financial perspective and identify the things that will make you more money next year!
Links mentioned:
Episode 43: Plan Out Your 2023 Money Moves with a Year-End Review + Grab the Workbook
In this episode, you’ll learn:
02:20 Tip 1: Get your bookkeeping in order
03:54 Tip 2: Get tax help and make estimated tax payments
06:25 Tip 3: Record and calculate your mileage
09:00 Tip 4: Count your inventory by Dec. 31
10:30 Tip 5: If you’ve wanted a new system, get it ready to start on Jan. 1st
11:29 Tip 6: S Corp Owners - run payroll for yourself
13:54 Tip 7: Sit down and make a plan for 2023
14:50 Tip 8: Retirement Accounts - when to contribute
19:26 Tip 9: Should you pull expenses into December to lower taxes
23:54 Tip 10: In January, file tax forms for all contractors
25:50 Tip 11: What to do if you want to switch to an S Corp?
Click here to listen to this week's episode!
If you love the podcast, please leave me a review on Apple podcasts and share with a friend! This helps me share more knowledge with people like you so they can become more financially literate, create more profit in their business, and feel more financially stable and secure. Click here and scroll to the bottom to leave a review and make sure to let me know what you're finding the most helpful!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!

I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Catch all the video versions of the podcast on YouTube
Get in touch with Sarah to add a CFO to your team