• Tammy Hoang

Small Business Tax: Checklist Preparation For Tax Return

Preparing your own business tax return, especially for the first time, can be a frustrating experience if you don't have all the necessary information at your fingertips. Gathering certain documents before you begin will help you fend off the frustration. Here's a list of items you may find helpful when preparing your business tax return:

Business information

  • Last year's business tax return

  • Articles of incorporation

  • Partnership agreement

  • Accounting records

  • Bank statements

  • Credit card statements

  • Payroll reports

  • Detail of asset purchases

  • Depreciation schedules

  • Detail of asset dispositions

  • Vehicle information


  • Gross receipts from sales or services

  • Sales records (for accrual based taxpayers)

  • Returns and allowances

  • Business checking/savings account interest (1099-INT or statement)

  • Other income

Cost of Goods Sold (if applicable)
  • Inventory

  • Beginning to inventory the total dollar amount

  • Inventory purchases

  • Ending inventory total dollar amount

  • Items removed for personal purposes

  • Materials & Supplies

  • Advertising

  • Phones (landline, fax, or cell phones related to business)

  • Computer & internet expenses

  • Transportation and travel expenses

  • Commissions paid to subcontractors

  • Depreciation

  • Business insurance

  • Interest expense

  • Professional fees

  • Office supplies

  • Rent expense

  • Office-in-home

  • Wages paid to employees

  • Other expenses


4 changes on 2020 tax deduction

IRS expose tips for common after-tax-day issues

If you, as a business owner, see that you cannot handle tax issues on your own, consider hiring our tax services to help you with it.

If you have any questions, contact us via (949) 356-0840 or

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