Cohn, Lopez & Associates
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Here's a list of the items we will need:

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  1. Financial Statements:
    • Balance sheet
    • Income statement (profit and loss statement)
  2. Income Records:
    • Revenue and sales records
    • Invoices and receipts
    • Bank statements
    • Records of income from sources like investments or rental properties
  3. Expense Records:
    • Receipts and invoices for expenses
    • Utility bills
    • Rent or lease agreements
    • Payroll records, including salary and wage details
    • Employee benefit records
  4. Deductions and Credits:
    • Documentation for deductions, such as business expenses, depreciation, and interest payments
    • Records supporting tax credits, if applicable
  5. Asset Information:
    • Documentation for the purchase, sale, or disposal of business assets
    • Depreciation schedules
  6. Business Structure and Ownership:
    • Information about the legal structure of the business (e.g., sole proprietorship, partnership, corporation)
    • Ownership information, including partners or shareholders
  7. Business Tax Forms:
    • Appropriate tax forms for the business type (e.g., Schedule C for sole proprietorships, Form 1065 for partnerships, Form 1120 for corporations)
  8. Previous Year's Tax Return:
    • Copy of the previous year's business tax return for reference
  9. Employer Identification Number (EIN):
    • The business's EIN or Social Security Number (for sole proprietorships)
  10. Accounting Records:
    • General ledger
    • Cash flow statements
  11. Business Expenses Documentation:
    • Receipts and records for business-related expenses, including travel, meals, and entertainment
  12. Asset Depreciation Information:
    • Details of assets subject to depreciation, including acquisition dates, costs, and depreciation methods
  13. Home Office Deduction Documentation (if applicable):
    • Records supporting the use of a home office for business purposes
  14. Estimated Tax Payments:
    • Records of estimated tax payments made throughout the year
  15. State and Local Tax Information:
    • Documentation related to state and local tax obligations, including re-employment taxes and sales taxes
  16. Financial Records for Retirement Plans (if applicable):
    • Information on retirement plans, such as 401(k)s or IRAs, and contributions made during the year
  17. Any Correspondence with Tax Authorities:
    • Copies of letters, notices, or communications with tax agencies
  18. Legal Documents:
    • Any legal agreements or contracts relevant to the business
  19. Inventory Records (if applicable):
    • Details of inventory, including opening and closing inventory values
  20. Records of Bad Debts (if applicable):
    • Documentation of bad debts that may be eligible for deduction

​**It's important to note that the specific documents and information needed can vary depending on the business's structure, industry, and location.
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Office: (407) 960-3652 | Text: (407) 946-2674 | Email: [email protected]

  • Financial Services
  • Our Team
  • Contact Us
  • Tax Update
  • Tax Tips
  • FAQ
    • Tax Highlights
  • Blog