Oct 31 2015
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2016 Business Tax Return Checklist

Please find below of information necessary to complete your business tax return.

Basics:

  • The date of incorporation
  • The State in which you incorporated
  • the name of your business
  • the Federal ID #
  • the address of your business
  • the number of shares of stock authorized
  • the number of shares issued
  • to whom (name, address, and social) they were issued (may all have been to you if you are the only owner)

The 2016 Gross revenue received from all operations

The 2016 expenses incurred listed by category.  Amount of money spent in each category (add categories as necessary)

  • advertising expenses
  • rent
  • telephone
  • cell phone
  • internet
  • office expense
  • supplies
  • professional fees
  • dues and subscriptions
  • meals & entertainment
  • subcontractors
  • commissions
  • wages paid to employees
  • what you paid yourself
  • year make model of vehicle
  • business miles driven
  • total miles driven

For your balance sheet and to calculate depreciation of assets I will need to know a list of all assets (any piece of equipment you purchased in 2016 worth more than 500)

  • your end of year bank balance
  • any account receivables (income you generated in 2011 but hadn’t received payment by 12/31)

Liabilities

  • credit card amount owed
  • any loans you took out and owe
  • any purchases you made but haven’t paid yet

This should be good to get your business return started.  For your personal return please complete the attached client interview sheet and send that back to me with any W2’s, 1099’s, or other tax related documents you have received.  We’ll start from there.

We will be able to get all of this taken care of for you so don’t worry about a thing!

If you’re not sure about whether to include an expense or not, include it. I’ll let you know if you can’t deduct it.

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