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Year End To-Do List

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Year End To-Do List

The end of the year is a hectic time for everyone, but small business owners in particular feel the strain. There is so much that needs to get done-- benefits, finances, HR, planning for next year, etc.

To help guide you through year end, we've compiled an easy, quick-reference list of some of your most important to-dos. Review the following checklist and make sure you aren't forgetting anything!


HUMAN RESOURCESprofessional woman checking a box

  • Verify home address for all employees.
  • Reconcile all vacation/sick and/or Paid Time off balances for year-end payout or carryover if applicable.
  • Move current year terminated personnel files to storage.
  • Remind employees to file an amended W-4 if there has been a change in their filing status, exemptions, etc.



  • Reconcile manual checks to annual totals.
  • Send reminder to employees to verify social security number and address on pay stub.
  • Review taxable fringe benefits that must be posted into payroll for W2 reporting.
  • Capture all information (ex: personal use of company car, relocation, bonuses, etc.).
  • Check third party sick pay (short or long term disability) postings to make sure you have captured all information required.
  • Create a list of outstanding checks to insure you comply with your State Escheat Laws (unclaimed property).



  • Verify current employee and accurate dependent coverage.
  • Distribute new health/dental insurance cards or advise employees how to access electronic copies.
  • Compile Census information for retirement plan testing (highly compensated).
  • Review list of which employees have life insurance over $50,000 to report taxable income for taxable group term life insurance.
  • Verify Flexible Spending Account (FSA) balances to confirm that employees will have total amount deducted by end of calendar year.



  • Before you plan what to do next year look at what you accomplished this year. Did you accomplish what you had planned to? A candid review of what went right (or wrong) over the past year can shed important light on what needs to happen in the coming year.
  • Set your SMART goals for the coming year.
  • Complete a strategic plan detail for your quarterly goals. This should include the goal, action steps, metrics (how to measure your progress and success), and milestones for achievement/completion which include specific due dates and assigned single points of accountability.


Legal Disclaimer: This document is intended for informational purposes only, and does not constitute legal information or advice. This information and all ScalePEO materials are provided in consultation with federal and state statutes and do not encompass other regulations that may exist, such as local ordinances. If you are seeking legal advice, you are encouraged to consult an attorney.

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