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.

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.