Tax appointment checklist

Start with last year's return and the basics

Last year's tax return shows how your business was reported before, carries forward information such as equipment that is being deducted over several years, and helps your preparer notice what changed. If you are working with a new preparer, it is one of the most helpful documents you can provide.

Bring it along with some basic information:

• A copy of last year's tax return, both business and individual if you filed both
• The legal name of the business and how it is set up, such as a sole proprietorship, an LLC, or a corporation
• Any changes during the year, such as a new owner or partner, a new location, or a business that started or closed
• Contact information for anyone else who handles your finances, such as a payroll provider
• If you also file an individual returnMany owners report business income on their individual return or file one alongside the business return. For that return, also bring W-2 forms if you or your spouse earned wages, other tax forms you received for things like interest or retirement accounts, and information about any dependents.

Income records

Your preparer needs a complete picture of what the business earned during the year. Gather:

• Sales reports from your accounting software, point-of-sale system, or invoicing tool
• Statements from card processors and payment apps
• 1099 forms you received from customers or payment platforms, which report payments made to you
• Records of cash sales
• Any other business income, such as interest earned on business accounts

If your books are kept up to date each month, a year-end profit and loss report summarizes most of this in one place.

Expense records

Business expenses can reduce the income you pay tax on, but only if they are documented. Bring:

• Receipts and invoices for business purchases
• Rent, utilities, insurance, phone, and internet bills
• Software, subscriptions, and professional fees
• Records of what you paid to contractors
• Contractors and 1099s you issuedIf you paid independent contractors, bring a list of who you paid and how much, along with copies of any 1099 forms you issued. Your preparer can tell you whether a form was needed for each person.
• Mileage logsIf you use a vehicle for business, bring your mileage log. A useful log shows the date, where you went, the business purpose, and the miles driven. Also bring records of vehicle costs such as fuel, repairs, and insurance. Your preparer can explain which way of deducting vehicle costs fits your situation.

If you use a personal card for some business purchases, or a business account for personal spending, mention it. It is better to sort that out with your preparer than to guess.

Statements, payroll, and payments already made

• Bank, credit card, and loan statementsBring statements for every business bank account, credit card, and loan for the full year. They let your preparer confirm that the income and expenses in your records match what actually moved through your accounts. Year-end loan statements also show how much interest you paid.
• Payroll recordsIf you have employees, bring the year-end payroll reports from your payroll provider or software, copies of the W-2 forms you issued, and the payroll tax filings made during the year. If someone else runs your payroll, they can usually provide these reports.
• Estimated tax paymentsIf you made estimated tax payments during the year, bring a record of each one: the date, the amount, and whether it went to the IRS or your state. Confirmation emails or bank statements that show the payments work well. These payments are easy to forget, and leaving one out can make it look like you owe more than you do.

Equipment, vehicles, and other large purchases

Large purchases are often handled differently from everyday expenses. Bring records of:

• Equipment, tools, computers, furniture, or vehicles bought during the year, with the date and price
• Anything you sold, traded in, or stopped using for the business
• Loan or financing documents for those purchases

Your preparer will work out how each purchase should be reported. Your part is simply making sure none of them are left out.