Taxes - Tax Preparation Checklists - Business

This list is a concise, though not exhaustive, outline of some of the documents needed to prepare your business tax return.  Although we have often worked with much less, even bags of receipts, these documents will make the preparation go much quicker.

A copy of last year's Federal and State tax returns.

Articles of incorporation, partnership agreement, etc.

Copy of current period balance sheet, income statement, trial balance and general ledger (if appropriate/available)

Prior year financial statements

List of all business owners including:

Name,

social security numbers,

address,

% of ownership,

date ownership acquired and

detail of distributions

Schedule of owner fringe benefits received

Schedule of loans to/from owners including loan agreements

Details of any related party transactions

Copies of all payroll forms and 1099 forms for the year

Amounts of any estimated tax payments

Listing of interest and dividend income

Vehicle information and use including vehicle leases

Information on any employee benefit plans including retirement plans, health insurance, etc.

Details of meals and entertainment expense

Any Internal Revenue Service and Department of Revenue correspondence received during the year

List of any activities in other states

Details of fixed assets and depreciation schedules