Small Business Tax Filing Checklist

Personal Tax Prep Checklist  Business Tax ChecklistIncomeGross receipts from sales or servicesSales records (for accrual based Tax-payers)Returns and allowancesBusiness checking/savings account interest (1099INT or statement)Other incomeCost of Goods Sold (if applicable)InventoryBeginning inventory total dollar amountInventory purchasesEnding inventory total dollar amountItems removed for personal purposesMaterials & SuppliesExpensesAdvertisingPhones (landline, fax or Cellular Phones related to business)Computer & internet expensesTransportation and travel expensesLocal transportationBusiness trip (mileage) logContemporaneous log or receipts for public transportation, parking, and tollsTravel Far from homeAir-fare or mileage/actual expense if droveHotelMeals, RecommendationsTaxi, GuidelinesWeb Connection (hotel, Internet café etc.)OtherCommissions paid to subcontractorsFile Form 1099-MISC and 1096 as necessaryDepreciationCost and first date of business use of assetsRecords Associated with personal use of assetsProduct Sales price and disposition date of any assets soldBusiness insuranceCasualty loss insuranceErrors and omissionsOtherInterest expenseMortgage interest on building owned by businessBusiness loan interestExpenditure expense and interestProfessional feesAttorneys, accountants, and consultantsOffice suppliesPens, paper, staples, and other consumablesRent expenseOffice space rentBusiness-use vehicle lease expenseOtherOffice-in-homeSquare footage of office spaceTotal square footage of homeHours Useful, if operating an in home daycareMortgage interest or rent paidHomeowner's or renters' insuranceUtilitiesCost of home, separate improvements and first date of business useWages paid to employeesForm W-2 and W 3Federal and state payroll returns (Form 940, Form 941, etc.)Employee benefit expenses [This Should be left-aligned with "Wages paid to employees"]BuildersForm 1099miscForm 1096Other expensesRepairs, maintenance of office facility, etcEstimated tax payments madeOther business related expensesMedical Health Insurance [This Should Be More left-aligned Together with "Other expenses"]Premiums paid to cover the sole-proprietor and familyPremiums paid on behalf of partners and S corporation shareholdersHome Elevators spouse's employer provided insurance