Types of Business Returns
- Profit or Loss from Business (Sole Proprietorship)
- Form 1065, U.S. Return of Partnership Income
- Form 1120, U.S. Corporation Income Tax Return
- Form 1120-S, U.S. Income Tax Return for an S Corporation
General Small Business Check-List
- Personal Records: You’ll need the full legal names, tax identification number, addresses, percent ownership, ownership acquisition date and distribution details for distribution details for you, other partners and/or qualified parties.
- Last Year’s Federal and State Tax Returns: Gather both personal and small-business returns.
- Estimated Tax Payments: Gather all paperwork related to tax payments made during year, including state, federal, property, etc.
- General Ledger: Your ledger should list out contents of every expense category you plan to deduct from your small-business tax return.