Nobody knows who needs a 1099-NEC
W-9s are missing and nobody has added up what each contractor was paid this year.
Year-end · Before tax season
Year-end bookkeeping services to close the year before tax season
December is coming, your CPA will ask for the year's package, and nobody is sure what needs to be ready.
Year-end bookkeeping services close the books for the year before tax season. In practice it runs from October to February: reviewing W-9s and totals paid to contractors, clearing open items, reconciling every account at December 31, preparing 1099-NEC data by January 31 and handing your CPA the annual P&L and Balance Sheet with supporting documents. Deadlines, extensions and tax strategy stay with your CPA. GS Brasil closes the books remotely for businesses in Florida and Massachusetts.
A year-end close assumes the year is already recorded. If months are missing, start with catch-up bookkeeping. If you want to reach next December without the rush, what you need is tax-ready bookkeeping, the monthly routine.
Warning signs
Signs your year-end close will be tight
December decisions without numbers
Buying equipment or prepaying a vendor is on the table, but the year's P&L is not current.
Your CPA sent a checklist
The year-end document request arrived and half of the items do not exist anywhere.
Calendar
The year-end calendar, October through April
Year-end does not start in January. The decisions that matter most happen before December 31, and what is left afterwards is checking and handing over.
October and November: contractors and open items
- Check that every contractor paid this year has a W-9, the form with name, address and TIN (tax ID number). Ideally it is collected before the first payment.
- Add up the total per contractor. Payments made by credit card or a payment platform are usually reported by the platform on a 1099-K and stay out of the 1099-NEC.
- Clear open items: uncategorized transactions, open invoices and unreconciled accounts.
December: decisions with your CPA
Buying equipment, prepaying a vendor or holding an invoice are decisions with tax effects. Your CPA evaluates them. Bookkeeping supplies a current P&L so the conversation happens with numbers, not guesses.
January: December 31 reconciled
Every bank account, card and loan is reconciled to its December 31 statement. The 1099-NEC data is ready for filing, which is due January 31. The threshold was 600 dollars for payments through 2025 and rose to 2,000 dollars for payments made from 2026 on. Always confirm with your CPA.
February: the annual reports
The annual P&L and Balance Sheet are closed. Assets bought during the year are listed with date, amount and receipt, so your CPA can calculate depreciation.
March and April: your CPA's deadlines
The federal deadline is March 15 for S corporations and partnerships, which includes multi-member LLCs. For individuals and calendar year C corporations it is April 15. Extensions are your CPA's call. In Florida, the company's Sunbiz annual report is due between January 1 and May 1. In Massachusetts, the LLC annual report carries a 500 dollar fee and is due on the company's anniversary date. Neither is income tax or bookkeeping, but both belong on the same calendar.
The package your CPA receives
- Annual P&L and Balance Sheet.
- December 31 reconciliation reports for every account, card and loan.
- The general ledger with every entry for the year.
- Contractor list with W-9 status and total paid to each.
- Assets purchased and loan balances, with the year's interest split out.
- Owner draws and contributions, plus any items still open.
How it works
Four checkpoints to the CPA package
01
October
Review of the year so far
Open items, contractors without a W-9 and unreconciled accounts go on a list with an owner.
02
December
Numbers for the talk with your CPA
A current P&L before the year-end purchase and payment decisions.
03
January
December 31 close
Every account reconciled and 1099-NEC data ready before January 31.
04
February
Package delivered
Annual reports, asset list and supporting documents sent to your CPA.
Deliverables
What is ready at year-end
Annual P&L and Balance Sheet
Profit and loss and balance sheet closed and tied to the statements.
December 31 reconciliations
One for every bank account, card and loan.
1099-NEC data
Contractors with W-9 and total paid, ready for whoever files. More on the 1099 contractors page.
Asset list
Equipment and vehicles bought during the year, with date, amount and receipt.
Loans in order
Ending balance checked with the lender and interest split from principal.
Notes for your CPA
Owner draws, open items and anything that needs their decision.
Who decides what at year-end.
GS Brasil closes the books and organizes contractor data. Deadlines, extensions, depreciation, filings and tax strategy belong to your CPA. GS Brasil does not prepare or file taxes.
Frequently asked
Year-end bookkeeping questions
When should I start year-end bookkeeping?
In October. That leaves time to collect missing W-9s and to talk with your CPA before December 31, while decisions can still change something.
My books are behind. Can I just do year-end?
You cannot close a year that was never recorded. Catch-up bookkeeping comes first, with the period your CPA needs at the front. The close follows.
Does GS Brasil file the 1099-NEC forms?
GS Brasil delivers the data: W-9s, totals per contractor and what was paid by card or platform. Filing stays with the business or the CPA, who also confirms the threshold that applies.
What is my company's tax deadline?
It depends on how it is taxed: March 15 for S corporations and partnerships, April 15 for individuals and calendar year C corporations. Your CPA confirms your case.
How do I avoid this rush next year?
With a close every month. Tax-ready bookkeeping keeps the books ready all year. If you also want cash projections and margin analysis, look at Financial Support Premium.
Keep reading
Before and after year-end
Bookkeeping clean-up
The starting point when the books are behind, wrong, or both.
Tax-ready bookkeeping
A monthly routine that keeps the books ready for your CPA all year.
1099 bookkeeping
W-9s, contractor totals and a 1099 package for your CPA.
Catch-up bookkeeping
When the books are months behind, with or without QuickBooks.
Article: bookkeeper, CPA or tax preparer
Who does what, and in what order.
Bookkeeping in Massachusetts
Monthly books in Portuguese, English or Spanish for MA companies.
First step
Start with the first conversation
Twenty minutes, no commitment, to understand where your company is and point the way.