Below is a business tax checklist of items that you should bring with you for your tax consultation.
- New clients should bring the last federal and state tax return filed for the business as well as a copy of Articles of Incorporation or Organization, Form 2553 Election to file as an S-Corporation, and any other documents used to set up the business.
- Business income and expenses. (A list of expenses is acceptable for self-employed persons). Corporations should have a Profit & Loss Statement and Balance Sheet.
- Vehicle Information for Business Standard Mileage:
– Year, make & model of vehicles used for business
– Total number of miles driven for ALL purposes for this vehicles
– Business miles driven. Beg & End Odometer Readings.
– A log with dates, miles and business purpose.
- Vehicle Information for Business Actual Expenses Deduction:
– All of the above, and
– A list of total expenses for gasoline, oil changes, tires, and repairs.
– Total cost of insurance for the vehicle.
– License plates, registration, etc.
– Interest paid on loan for business vehicles.
- Detailed Depreciation Schedule. This should be included in your copy of the prior year tax return.
- Capital Items purchased for the business during the current year. (Bring receipts)
Date Purchased: ________ Description: _________ Cost: ________
- A copy of Payroll forms 941, 940, SUTA, and W-3 and W-2s.
- A copy of Sales Tax Returns if you are subject to sales tax.
- Form 1099-MISC and any other forms and/or letters re tax.
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