Required Documents

Financial Statements

• Profit or Loss Statement or Income Statement
• Balance Sheet

Accounting Records

• Prior month reconciliation
• Prepaids
• Fixed assets
• Accruals
• Bank statements

Significant Agreements

• Leases
• Debt Agreements
• Bank Covenants
• Partnership Agreements

Organizational Changes

• Meeting Minutes
• Changes in Ownership
• Bylaw Changes
• Changes to Partnership, Operating, or Management Agreements

Schedule K-1s Received

• S-Corporation (1120S)
• Partnership (1065)
• Fiduciary (1041)

Updated Asset Information

• Dates and amounts for any assets added, sold, or disposed of this year

Vehicle Expenses

• Mileage logs with business, personal, and commuting miles
• Date placed in service
• Parking
• Tolls
• Other business expenses of the vehicle

Other Taxes Paid

• Payroll taxes
• Unemployment taxes
• Sales taxes
• Personal Property taxes

Payroll and Benefits

• Forms W-2 and W-3
• Forms 1099 and 1096
• Retirement plan documents
• Contractor Forms W-9

Investment Accounts Statements

• Brokerage statements for all accounts (including Consolidated Form 1099s)
• Form 1099-B
• Form 1099-S”
• Credit Card and Loans Copies of all your:
• Credit card statements
• Installment loan statements
• Mortgage loans
• Lease and rental statements

Federal or State Tax Notices

If the IRS, or any state or local taxing agency, contacted you and you have not already notified us (including a partnership or LLC in which you have an investment), provide copies of all notices or correspondence received

Ownership Changes

Provide a schedule of ownership changes during the year, including dates and number of shares or percentage of ownership.

Payments to Foreign Person

If the business made payment(s) to foreign person(s) that would require it to file an annual withholding tax return, attach Forms 1042 and 1042-S

Changes to Buy or Sell Agreements

If there have been any changes to the owners’ buy or sell agreement(s), provide a copy(ies)

Updated Minute Book

If the business updated its minute book for the year, provide a copy

Bought or Sold Business

If the business purchased or sold a business or business segment during the year, provide a copy of the contract or agreement

Multiple State Detail

If the entity does business in more than one state, provide copies of supporting schedules reflecting inventory, real and personal property, rents, payroll and sales by state.

Payments Requiring Issuing Form 1099

If you made any payments during the year that would require you to file Forms 1099, attach copies of those Forms 1099

Foreign Tax Documents Filed 

• 1099/1096
• 5500
• 1042
• 5471
• 5472
• 8865
• 8858
• 8886
• FBAR (FinCEN Report 114)

Interest and Dividends

Provide a schedule of interest and dividend income not included on Forms 1099

Worthless Securities

If the business owned securities that became worthless or have loans that became uncollectible during the year, provide details

Installment Sales

If the business made any sales qualifying for the installment method of reporting, attach a copy of the agreement, a schedule of the payments received and the beginning-of-year contract balance. Provide an amortization schedule, if available.

Related Party Sales

If there were any sales or exchanges during the year between the business and a shareholder or other related party, provide a detailed schedule.

Bartering Activity

If the business engage in any bartering activity during the year, provide a schedule of all such activities

Government Contributions

If the corporation received any contribution in aid or construction or any other contribution from a customer or potential customer or any contribution from any governmental entity or civic group (other than contributions made by a shareholder in its capacity as a shareholder, provide the amount of any such contributions and indicate the accounts to which these contributions were posted

Foreign Sales

If the business had any foreign sales, provide the amount of sales by country

Self-Constructed Assets

Provide copies of all schedules supporting the calculation of the amount of general and administrative expenses required to be capitalized in ending inventory or associated with self-constructed assets

Political Contributions 

If the business make political contributions during this tax year, provide details about those activities

Lobbying Expenses 

If the business incurred any expenses to influence legislation (lobbying), provide detail about those activities

Loans to Owners 

If the business has loans with owners or other related parties during the tax year, attach a schedule indicating the: 

• Amount of the loan
• Date of transaction
• Interest rate
• Payments 

Also, attach a copy of the note if not previously provided

Ownership of Other Entities 

If the business owns an interest in any other entity including but not limited to a partnership, C corporation, LLC, S corporation, trust or disregarded entity, provide details

Paid Medical and Family Leave 

If the business provides paid medical and family leave to employees pursuant to a written policy, provide a copy of the policy. Also, for each applicable employee provide the: 

• Amount of wages paid
• Employee’s normal hourly wage rate
• Number of hours of leave for which the employee was paid

Cost Segregation Study 

If the business participate in a cost segregation study this year, provide the report

Unpaid Owner Expenses 

If there were unpaid expenses to owners at year end, provide detail

Vehicle Purchase or Lease 

If you acquired, leased or disposed of a vehicle used for business during this year, attach the purchase and sales contract or lease agreement

PPP Loans 

If your business received PPP funds include a copy of the application and documentation for loan forgiveness and the forgiveness response from the bank, if applicable

EIDL and State Funds 

If the business received any other funds/loans/grants (local, state, federal or other) related to the COVID-19 pandemic and economic recovery, such as an Economic Injury Disaster Loan (EIDL), provide details

Deferred Social Security Tax 

If the business deferred the deposit and payment of its share of Social Security tax for any quarter in 2020 (per the CARES Act), attach the payroll returns, if not already provided

Employee Retention Credit 

If the business claimed the employee retention credit and/or credits for qualified leave wages paid to employees due to paid sick leave or expanded family and medical leave for reasons related to COVID-19, attach the payroll returns, if not already provided

FMLA and Sick Leave 

If wages were paid out due to employees being on FMLA and Sick Leave, attach the payroll returns, if not already provided

Benefit Plans 

If the corporation has any of the following employee benefit plans, provide copies of plan documents: 

• Qualified Retirement Plans 
• Simplified Employee Pension (SEP) 
• Savings Incentive Match Plan for Employees (SIMPLE) 
• Cafeteria Plan 
• Non-qualified deferred compensation plan(s) or agreement(s)

Health Reimbursement Plan 

If you have a health reimbursement arrangement or otherwise reimburse your employees for medical expenses or health insurance premiums, provide a copy of Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, if applicable

Restricted Stock 

If the corporation compensates employees or directors using restricted property, including options to purchase stock or restricted stock, provide details regarding the applicable terms of employment and any related grants, elections, exercises and/or vesting events during the tax year, including copies of any notices to and elections by employees

Life Insurance 

If the corporation purchase life insurance on any employees, provide a copy of the report of employer-owned life insurance contracts (Form 8925)

Fringe Benefits

If the corporation included taxable fringe or welfare benefits, such as health insurance, group-term life insurance, educational assistance, non-accountable expense allowances and personal use of corporate vehicles in compensation on employees’ Forms W-2 and, if applicable, subject such amounts to payroll taxes,provide a schedule of fringe benefits paid on behalf of each owner and indicate which accounts have been charged.

Owned 50% of Other Corporation 

If at year end, did the corporation own, directly or indirectly, 50% or more of the voting stock of a domestic corporation, provide:

• Corporation name
• Percentage owned
• A copy of those corporations’ current tax return

Owned 80% of Other Corporation 

If the shareholders owning 80% or more of this corporation own 80% or more of any other corporation, provide a copy of the other corporate tax return

Dividends Paid 

If the corporation paid dividends during the year, attach a schedule reflecting the:

• Date declared
• Date paid
• Amount and form of payment (cash, other)

Refinanced Debt 

If the corporation refinanced or restructured any outstanding debt this year, provide documentation

Partnership Ownership Change 

If there has been a change in partnership ownership since last year: 

• Report of a sale or exchange of certain partnership interest (Form 8308), if applicable
• If marketable securities were distributed, provide the date of distribution and fair market value at distribution date(s)

Payments Without Regard to Income 

If there were any payments to partners or members during the year for services or for the use of capital determined without regard to income, provide a description and the amounts involved for each partner/member

Partner Contributions 

If any partner or member contribute any assets to the partnership or LLC during the year, provide a schedule of such assets received including the date placed in service and the partner’s or member’s basis and fair market value in such assets

Assets Bought or Sold 

If any assets sold, retired or converted to personal use during the year, attach copies of purchase invoices

Property Bought or Sold 

If any the property was bought or sold during the year, provide the closing statement (Closing Disclosure) for each transaction

Research and Development 

If the business participate in any research and development (R&D) activities or perform an R&D tax credit study, provide the reports or details

Work Opportunity Credit 

If the business had employees eligible for the work opportunity tax credit, provide copies of certification for employees of target groups and associated wages paid

Direct Deposit or Debit 

If you want any federal or state refund deposited directly or tax payments made from your bank account, enclose a voided check or provide your bank routing number and account number