Another year is racing to a close. While many businesses may already be in throes of planning holiday parties, there could be some lingering compliance or filing-related tasks that require attention before 2022 can be closed successfully.

Here are five important questions to consider before the end of the year.

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1. Have the company's business licenses been renewed?

While requirements may vary based upon the industry in which a given company or entity is operating, many business licenses must be renewed annually. Businesses should perform a careful inventory to ensure that they've obtained all appropriate business licenses while also paying close attention to their renewal dates.