Small Business Tax Preparation Checklist

Tax season is far less stressful — and often cheaper — when you show up organized. The more your preparer has to chase down or reconstruct, the more time it takes and the more you pay. Use this checklist to gather everything before you file your small business taxes.

1. Income records

• Total gross receipts and sales for the year
• 1099-NEC / 1099-K forms you received
• Sales records from your point-of-sale or invoicing system
• Records of any other business income (interest, refunds, bartering)

2. Expense records

This is where clean bookkeeping pays off. Have categorized totals for:

• Advertising and marketing
• Supplies, materials and inventory (plus beginning/ending inventory if you carry it)
• Rent, utilities and insurance
• Software, subscriptions and professional fees
• Vehicle mileage log and/or actual vehicle expenses
• Home office square footage and related costs
• Contractor payments (and the 1099s you need to issue)
• Employee wages and payroll records

3. Payroll and contractor filings

If you have employees or paid contractors $600 or more, you'll need to issue W-2s and 1099-NECs — generally by January 31. Have your payroll reports and contractor W-9s ready. If we handle your payroll, this is already done.

4. Prior-year return and entity info

• Last year's business tax return
• Your EIN and entity type (LLC, S-corp, partnership, sole proprietor)
• Any S-corp election paperwork
• Records of estimated tax payments you made during the year

5. Asset purchases

Bought equipment, a vehicle, furniture or other big-ticket items? Have the purchase dates and amounts. Some assets can be fully deducted in the year of purchase; others are depreciated over time, and choosing the right treatment can meaningfully change your bill.

6. Deductions and credits to review

Before you file, make sure you've captured retirement contributions, self-employed health insurance, and the other write-offs owners commonly miss — our guide to small business deductions covers the big ones. A quick review here often finds real money.

Make next year easier

The businesses that breeze through tax season are the ones that kept clean books all year and planned ahead. If gathering this list felt like a scramble, that's a sign it's worth having a professional handle your bookkeeping and business return together. We'll send you a personalized checklist, keep your records straight, and make tax season a non-event. Ready to get started? Request a consultation anytime.