Year-End Tax Prep Checklist NJ | W-2s, 1099s & Closing Entries

Get Ready for Tax Season with This Year-End Tax Prep NJ Checklist

As December approaches, year-end tax prep NJ becomes critical. Whether you’re issuing W-2s, filing 1099s, or closing entries, staying organized ensures accurate filing and fewer CPA rush fees.

Step 1: Verify Employee & Contractor Info

• Collect updated W-9 forms from contractors.

• Confirm employee Social Security numbers and addresses for W-2s.

• Use your payroll or bookkeeping system to cross-check all data.

Step 2: Prepare 1099s & W-2s Early

W-2s and 1099-NECs are due to recipients by January 31.

If you paid contractors $600+ during the year, confirm which forms apply.

Step 3: Record Final Adjusting Entries

Work with your CPA to finalize:

• Depreciation and asset adjustments

• Owner contributions and draws

• Interest or loan reconciliations

Step 4: Organize Key Tax Documents

Gather:

• Bank and credit card statements

• Payroll reports

• Receipts for deductible expenses

• Asset purchase records for Section 179 deductions

CPA Tip:

Label your document folders as “2025 Tax Prep – [Category]” for quick access. A few minutes now saves hours later.

Make Year-End Simple

Avoid the last-minute scramble. Book a Free Consultation → with Gregory Monaco, CPA LLC in Livingston, NJ for personalized tax planning and preparation in NJ.