LivingstonCPA - Tax Checklist and Preparation Guide for Businesses

LivingstonCPA - Individual and Small Business Taxation - Small Business Accounting

Tax Checklist for Businesses
If interested in using LivingstonCPA, please use this list as a guide in gathering your information, complete it with your personal contact information below, and enclose it with your submission. Please provide any additional information related to income and expenses that may be required for your tax return. Have questions? Contact us.

Downloadable Tax Checklist for Businesses
If you desire to use our services please download, print and fax or mail the downloadable form to LivingstonCPA.

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 for business use in the current year
Listing of assets currently being depreciated with details of depreciation amounts and methods used
Balance Sheet and Income Statement. If not available, please provide Cost of Goods Sold, employee compensation, mileage driven for business vs. total mileage of auto used for business
with make, model, and year of auto
NEW FOR 2005 ONLY: Mileage information (total versus amount exclusively for business) needs to be separated into two time periods: 1/1/05-8/31/05 and 9/1/05-12/31/05. Standard mileage rates were increased for the latter period. If this information is undeterminable all mileage will be deducted at the lower rate applicable until 9/1/05.
All other business expenses
Home office expenses– rent or mortgage, utilities, insurance, real estate taxes, etc. (These are deductible for the % business use).