Business Tax Checklist

Filing your business tax return just got a little easier

Save time and get organized this tax season! At Tax-Compare.com, we have compiled a list of all the documents you may need when you are preparing your business tax return. This is a comprehensive list, meaning some of these documents may or may not apply to your tax situation. You'll be surprised how much faster you'll be able to file your business taxes when you have these documents ready.

This checklist is only meant to be a guide and is not a substitute for tax advice. Please consult your business tax software provider with specific questions you may have.

• Corporate Formation Documents
• W-4 forms for all business owners
• W-4 forms for all employees
• W-9 forms for all contract laborers
• Report of all revenue earned during the year (bank statements or receipts as well)
• Report of all expenses during the year
  • Advertising and Promotional Expenses
  • Banking Fees Including:check charges, monthly charges, bank wire fees or overdraft fees
  • Business Gifts
  • Business-Related Education, such as seminars, classes, and educational tapes or video
  • Charitable Contributions
  • Conference and Convention fees
  • Equipment and Furniture This includes the cost of the equipment, furniture, or vehicle purchased, as well as depreciation on old equipment, and lease payments
  • Health-Insurance Premiums
  • Insurance (for buildings, machinery or equipment)
  • Interest and Fees (on money borrowed for the business)
  • Losses Losses from theft, fraud, damage from natural disasters
  • Meals and Entertainment
  • Membership Dues
  • Moving Expenses
  • Office Rent Expenses
  • Office Supplies
  • Postage and Shipping Expenses
  • Professional Fees Including: legal help, accounting and bookkeeping, architectural, business consulting and marketing consulting)
  • Property Taxes
  • Repair and Maintenance On the building, grounds, and equipment
  • Retirement Accounts for self and employees
  • Salaries of Employees
  • Software Costs
  • Taxes This includes: sales tax on items purchased for business usage, real estate tax on business property, employer’s share of employment taxes, excise taxes and, in some instances, state income tax
  • Telephone and Telecommunications Expenses Including, Internet, television and other communication usage for business purposes
  • Trade-show exhibition and/or attendance Including travel, meals, admission fees and costs of booths or exhibitions
  • Travel This includes: automobile expenses pertaining to business usage, using either actual costs of repair and gas or the standard mileage deduction, hotels, airfare, meals, laundry and business entertainment while on the road. You can also claim the costs of passports for self and employees when traveling for business purposes
  • Utilities