Documents Required to Prepare a Business Income Tax Return

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Business tax returns follow different policies and procedures and are not prepared during standard personal tax appointments. All required documents must be submitted in advance to allow proper review and preparation.

A business consultation is highly recommended before any tax preparation services to ensure all required documentation is identified and submitted timely. This allows us to prepare your business tax return accurately and avoid delays, rescheduling, or additional fees.

• Legal business name
• Business address
• Business phone number and email
• Federal EIN (or SSN for Schedule C)
• State of formation and start date
• Business activity description
• Ownership percentages (if applicable)

Partnerships / S-Corps:

• Owner contributions and distributions
• Shareholder basis information

S-Corps:

• Payroll reports (W-2s, 941s, 940)
• Officer compensation details

C-Corps:

• Retained earnings
• Dividend payments

• Prior-year business tax return (if new to our firm)
• Depreciation schedule (if applicable)
• Carryforward losses or credits

 Provide totals or detailed reports for the tax year:

• Gross receipts / sales summary
• 1099-NEC, 1099-MISC, and 1099-K received
• Payment processor reports (Square, Stripe, PayPal, Zelle, Cash App, etc.)
• Other income (refunds, grants, interest)

 Provide a year-end summary or bookkeeping reports for:

• Advertising and marketing
• Office expenses and supplies
• Cost of goods sold (materials, labor, subcontractors)
• Rent or lease payments
• Utilities and internet
• Insurance
• Repairs and maintenance
• Professional fees (legal, accounting)
• Meals (business-related)
• Travel expenses
• Vehicle expenses (choose one):
  • Mileage log, or
  • Actual vehicle expenses
• Payroll records and payroll tax filings (if applicable)
• Contractor payments and 1099 filings

• Equipment, machinery, furniture, or vehicle purchases
• Purchase dates and amounts
• Assets sold or disposed of during the year

• Beginning and ending inventory values
• Inventory purchase records

•  Year-end bank statements
• Business credit card statements
• Loan statements and interest paid

•  Estimated tax payments made
• Sales tax reports filed
• Business licenses and permits
• Franchise or annual report filings

• Home office information
• Business use of home expenses
• Foreign income or foreign accounts
• Cryptocurrency activity
• PPP or other loan forgiveness documentation