office (909)
983-3716
Business Organizer Checklist
Needed to prepare your taxes, for all Businesses:
Fixed assets:
- Any items, or equipment, you use in your business (not for resale) that have a life of more than one year. Some small tools that are actually replaced within a year can be expensed
- This includes office equipment: computers, printers, faxes, desks, chairs, etc.
- Purchased Assets: what is it, when was it bought; and how much?
- Disposed Assets: how was it disposed of (sold, scrapped, converted to personal, etc); when was it disposed of; and for how much?
Incomes:
- Gross Sales
- Returns or Refunds or Bad Checks
- Interest or other income
Expenses: NOTE: this is not a complete and comprehensive list. If you have something that is not listed here, or if you are not sure where it belongs, please consult you tax professional.
- Advertising
- Vehicle expenses – need total business miles; total all (business and personal) miles; and actual expenses (if taking actual)
- Any commissions or fees paid
- Any contract labor or outside labor (need to be give a 1099 for all over $600)
- Insurance (liability, E&O, etc.)
- Health Insurance
- Retirement or Pension Plans
- Other Employee Benefits
- Interest Expense (including credit cards used for company only)
- Mortgage Interest
- Legal & Professional (accounting, lawyer, Tax Professional, etc)
- Office Expenses
- Rent or Lease on vehicles, machinery, equipment, or buildings
- Storage Costs
- Repairs and Maintenance
- Physical Inventory balance as of December 31
- Purchases of Inventory (or Cost of Goods Sold)
- Supplies not included in Purchases
- Payroll Taxes incurred, whether or not paid
- Taxes and Licenses – please detail to whom
- Travel
- Meals & Entertainment
- Utilities
- Wages directly to production or Inventory
- Wages for Officers and Shareholders
- Wages – other
- Telephone Expenses
- Cell Phone Expenses
- Internet Access Costs
- Web Page maintenance
- Shipping Costs
- Bank Charges
- Credit Card fees
- Training & Educational Expenses
- Gifts
- Laundry & Uniform
- Alarm & Security Expenses
- Costs of Office in Home: Interest or Rent, Taxes, Insurance, Repairs & Maintenance, HOA dues
Additional for Corporate, LLC, Partnership returns:
Asset balances as of December 31:
- Balance of all business checking and savings accounts
- Accounts Receivable balance
- Any loans from company to Shareholder
- Does the company own any stocks, bonds, or other investments?
- Does anyone owe the company any money?
Liability & Equity balances as of December 31:
- Accounts Payable
- Payroll Taxes Payable
- Sales Tax Payable
- Any loans from Shareholder to company
- Does the company owe anyone?
- Loan balances
- Mortgage balances
- Amounts contributed to company by shareholders, members, or partners
- Amounts distributed to shareholders, members, or partners
