Tax Checklist for Businesses

Use this list as a guide in gathering your information to be used in preparation of your business tax return(s). Please provide any additional information that may be pertinent to your tax return.

• Business name, address, and description of the nature of
  your business
• Copy of last year's Federal and State tax returns (new clients only)
• Employer identification number (if applicable)
• Accounting method, i.e. Cash or Accrual
• Inventory valuation method
• Gross income or receipts from business
• % of home used for business purposes – i.e. sq. feet of business area / total sq. feet of home
• Listing of assets and dates purchased within current year
• Listing of assets currently being depreciated with details of depreciation amounts and methods used (new clients only)
• Balance Sheet and Income Statement. If not available, please provide Cost of Goods Sold, employee compensation
• Mileage: Provide mileage for business (non-commuting) and total mileage for the year plus make, model, and year of auto
• All other business expenses
• Home office expenses– rent or mortgage, utilities, insurance, real estate taxes, etc. (These are deductible for the % business use).