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.
Vehicle, Travel, Meals, and Entertainment
- Advertising
- Any commissions or fees paid
- Any contract labor or outside labor (need to be give a 1099 for all over $600)
- Insurance (liability, E and O, etc.)
- Health Insurance
- Retirement or Pension Plans
- Other Employee Benefits
- Interest Expense (including credit cards used for company only)
- Mortgage Interest
- Legal and 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
- 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 and Educational Expenses
- Gifts
- Laundry and Uniform
- Alarm and Security Expenses
- Costs of Office in Home: Interest or Rent, Taxes, Insurance, Repairs and 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 and 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
