business tax checklist

As we close on the end of the year and start to prepare for next year having a business tax checklist to work from will come in handy. If you are wondering what your tax burden for your small business will be like next year North Georgia Accounting Solutions can help you.  We work with many business clients and help them understand how best to close out the end of the year. The NGAS team will help you make the most from the business tax situation you are in and we know every situation is unique.

For our business clients who have no bookkeeping or accounting records, we will need to have bank statements and check stubs, credit card statements and cash receipts. Especially for clients that do not have any kind of bookkeeping, it is imperative that the business retain all records that we can use in preparing the taxes.

For clients that do their own bookkeeping and accounting through QuickBooks or another software, we need a balance sheet, a profit and loss statement, a general ledger, and copies of payroll tax forms already filed (if we have not prepared those). We also need the QuickBooks file, and with that we can print the other necessary reports.

For all clients, we also need 1099 forms they have received along with any business loan documents. If the clients keep track of mileage on business vehicles, we also need those forms.

Cut and paste this business tax checklist into a word document to check everything off one by one and then give us a call.

  • Bank Statements
  • Check Stubs
  • Credit Card Statements
  • Cash Receipts
  • Balance Sheet
  • Profit Loss Statement
  • General Ledger
  • Payroll Tax Forms – Pre filled out
  • Quickbooks file, if you use it
  • 1099 forms
  • Business loan information
  • Mileage for business vehicles

Important Tax Update – Dates have changed:

Partnerships – form 1065 Due March 15th and extensions are September 15th

–Under new law , for fiscal year partnerships, returns will be due on the 15th day of the third month after the end of the year. A six month extension is allowed.

S Corporations – Form 1120s due March 15th and extensions are September 15th

C Corporations – (calendar year) Form 1120 due April 15th and extensions are September 15th

–Starting with 2016 tax returns, all other C Corporations beside December 31 and June 30th year ends will be due on the 15th day of the 4th month after the year end. A six month extension is allowed from that date.

Individual tax – Form 1040 is due April 15th and extensions are September 15th

–do not forget we can help you with your individual taxes also.

If your company needs assistance with business taxes, please call our office at 678-804-4011 or email us at info@ngas.us

We work with companies located in Buford, Sugar Hill, Suwanee and throughout Northeast Georgia.

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