Business Tax Prep Checklist
Disclaimer: You must be onboarded by an accountant first before submitting any confidential data or information.
Business Checklist
Returning Clients: If you’ve already provided these documents to us before, you won’t have to submit these items again - unless there’s been a change or update.
EIN Letter (IRS Notice CP575)
Articles of Organization (LLC)
Articles of Incorporation (Corporation)
Operating Agreement (LLC)
Partnership Agreements (Partnerships)
Bylaws & Resolutions (Corporation)
Annual Information Reports (State)
Business Licenses (if applicable)
Seller’s Permit (if applicable)
S Corporation - Provide Form 2553 or IRS Notice CP261, showing the acceptance of the S Corporation Election.
Other Formation Documents (if applicable)
Tax Returns - The last 2 years of Form 1065 (Partnerships & LLC) / Form 1120-S (S Corporation) / Form 1120 (C Corporation) / Form 990 (Tax-Exempt Organizations)
Bookkeeping Checklist
Profit and Loss Statement - A document or excel sheet that shows business income, categorized expenses, and net profit/loss.
Bookkeeping - If you currently work with a bookkeeper, please have them provide all relevant financial records or feel free to connect us directly. If you use software, please provide us access as an accountant user/admin to allow us to view your financial statements. If you’re already onboarded with EA Tax Pros LLC for bookkeeping service, no action is required since we handle this for you.
Tax Forms - Make sure to collect all Form 1099-NEC, Form 1099-MISC, or other income tax documents that are reported under your business name.
Assets & Loans - Notify us of any asset purchases (vehicles, equipment, computers, furniture). Provide loan statements such as business loans, vehicle loans, and credit lines. Inform us of any new leases or financing agreements.
Sales Tax - If you collect sales tax for your products or services, you must remit them back to the sales tax department of the state where the sales occur. We can assist with filing a Sales & Use Tax Return for your business, if necessary.
Receipts - Make sure you save your receipts and invoices for your records on all business expenses when possible. We may need to verify some transactions when required.
Business Updates - Notify us of any new business activity or side ventures. Inform us of changes in ownership or business structure.
If your business doesn’t have bookkeeping…
Please complete our business worksheet. A Profit and Loss Statement will be generated based on the information provided. Select the tax structure of your business:
Payroll Checklist
Payroll Software - If you use payroll software, please provide us access as an accountant user/admin to allow us to view your payroll records. If you’re already onboarded with EA Tax Pros LLC for payroll service, no action is required since we handle this for you.
Form W-9 Independent Contractor List - If your business paid a person $600 or more in a calendar year for services, the business must report this payment to the IRS using Form 1099. This threshold applies to total payments whether paid via cash, check, Zelle®, Venmo, PayPal, Cash App, or any other form of payment. Please provide us all Form W-9’s as they must be issued to the contractor and IRS by January 31st.
S Corporation Officer Salary - An officer of a corporation is generally an employee. They must meet the “reasonable compensation” compliance and requirement. S Corporations must pay reasonable compensation to a shareholder-employee in return for services that the employee provides to the corporation before non-wage distributions may be made to the shareholder-employee. Skip if you are running payroll software with EA Tax Pros LLC.
Equity Transactions - Owner’s Investments (Capital Contributions), Owner’s Draws, Shareholder Contributions, and Shareholder Distributions must be tracked in order to calculate basis properly and to file an accurate tax return. Skip if you are running bookkeeping software with EA Tax Pros LLC.
Employer Tax Returns - Provide quarterly and annual employer filings. Example: Form 940, Form 941, Form W-3, Form 1096, and other payroll filings if applicable. Skip if you are running payroll software with EA Tax Pros LLC.