Dear Customer,

Year-end planning – 31 12 2024 / Both for Companies and Self – Employed

The year-end is approaching. In order to be able to close accounting year 2024 properly (accounting and tax wise) , we will guide our customers to an optimal tax situation, taking into account the financial year.

What we expect from you towards the end of the year:

1. Review the your open customer invoices. Make sure that all your customer invoices have been paid by the customer as much as possible and all your outstanding supplier invoices have been paid by you;
2. We will sent you a separate email with advice on social security contributions and advance payments (both for companies and for self-employed persons) ;
3. Please don’t forget to pay your social security contributions before the end of the year ;
4. Don't forget your Pension Payments (if necessary, contact your insurance broker)
5. If you still need to make investments, make them in 2024. An increased investment deduction applies (check also our website);
6. Reconcile your current account with us and pay any debt to your company before the end of the year;
7. Make sure all your costs and revenues are uploaded on winbooks Connect www.winbooksconnect.be ;
8. Upload all your bank accounts Statements ( Remark: We need bank statements and not print outs. The word “ Bank Statement needs to be on the document” )
9. Go over all your debts (bank loans, win win loans, etc…....) and upload your documents on winbooksconnect;
10. Digitize your accounting;
11. Work with expense reports for all privately paid receipts, ….; Do not upload piece by piece but centralize the small documents (not for invoices);
12. If you work with Visa, Mastercard: Scan all receipts, line by line per Visa, Mastercard, in 1 package on WinbooksConnect. This significantly reduces our work!
13. Of course, scan all your purchase invoices, sales invoices, credit notes, separately on the system !
14. If you have stock of goods for resale: Do a stock count and provide us with your stock status as at 31/12/2024 (in value = cost price);
15. If you have a car: Provide us with your KM (mileage) at the end of the year (31/12) (and also the start of the year if you have this);
16. If you have assets sold, lost, stolen,…. during 2024: Provide us with information that the assets are no longer in use;
17. If you employ staff, don't forget to provide us with payroll records;
18. Restaurant costs: The tax administration is more difficult with regard to restaurant costs. If possible, keep a list of your resto costs and note with which business partner you incurred the resto costs. (or note it on the receipt itself).

What you can expect from us:

1. A separate email with a proposal for advance payments (to be done before 20/12);
2. A separate email with any request to increase your social security contributions;
3. We do a year-review of your file in order to intervene, if necessary, on your salary, social contributions, etc.
4. Optimization of your salary file ( Costs to Employer sufficient, rent part of your house (office) to your company,…);
5. Transfer from a self-employed status to a management company if necessary ;
6. Consult our website regarding whether or not to include costs;
7. Our general advice on whether or not to include costs is simple. All costs are costs incurred in order to maintain or obtain income
   However, it is not always clear to customers what costs that are deductible for tax reasons. If help needed, consult us !
8. Advice on “Tantièmes / Dividend payout / Liquidation reserve is always given after the year-end closing, when the results have been determined !

1. Some points of attention for Personal Income Tax:

1. Fiscal administration has sent applications for the declaration of your Foreign Real Estate. Please, if needed, fulfill this obligation ! (we do not do this automatically – it is not standard in our task package );
2. DO NOT forget to declare all your foreign bank accounts to the CAP (Central Point of Contact).

1. Legislation regarding Bankruptcy Code ( Not only for Companies)

1. If things are a bit more difficult, contact us and make a cash planning together with us!
2. If you have received a WCO mail from us, do not ignore it. The next step is that we must pass on your file to the Commercial Court (company Court of Law). However read the letter carefully, contact us and take action!

Keep in mind that our response speed can / will be a bit slower. We get a lot of questions about the year-end closing. However, we will try to answer within 4 working days!

For any further questions and/or remarks, please do not hesitate to contact me.

Tom Rottiers
ITAA gecertificeerd accountant belastingadviseur
KBNC Accountants
Populierendreef 2 A
B-2800 Mechelen
Tel : +32 15 33 01 33