Tax Organizer-C-Corporation

Tax Preparation Services

The C Corporation Tax Organizer has been designed to help collect and organize the information that we will need to prepare your business income tax returns in the most efficient and timely manner possible. Because this is the information we will be using to prepare your tax returns and sending to the IRS, please verify it is complete and accurate before submitting.

In addition to completing the organizer, there are additional documents we’ll need to complete your taxes. Below is a list of items we will need before we can prepare your taxes.

Once completed, please return via email to your case worker. If you need alternative methods to return the tax organizer you may fax to (213)340-2063 or Mail to 15760 Ventura Blvd STE 1560 Encino, CA 91436

Completed Organizer (see below)

Prior Years Tax Returns: If you are a first‐time tax client, please provide a copy of the corporation’s tax returns for the past 2 years (Federal and State)

Bookkeeping Records : If you use a bookkeeping system other than Xero, you can provide us with a year‐end income statement, balance sheet and statement of cash flows rather than completing the income and expense information below

Employee Information : If you have employees, please include a copy of the following docs:

Form W‐3 (This form is filed with W‐2s to report total annual payroll)

Federal Form 940 (FUTA) – For the tax year

Federal Form 941 (FICA) quarterly reports for periods ending 3/31, 6/30, 9/30 and 12/31 of tax year State quarterly reports for periods ending 3/31, 6/30, 9/30 and 12/31 of tax year

1099‐MISC Forms : If you issued forms 1099‐MISC we will need copies of these forms

Additional Items : Although the organizer is fairly comprehensive, it is certainly possible that there are items pertinent to your taxes that are not addressed. Please include these documents with your organizer.

Should you have any questions or concerns, please do not hesitate to call 1(855)225-1040

Tax Year*

Shareholder Information First Name ‐ Last Name

Social Security Number

Shareholder Mailing Address Street Address City, State, Zip

# of shares owned at start of year

# of shares owned at end of year

Dividends issued to shareholder during the year

Action

Business Expenses	$	Business Expenses	$
Advertising		Professional education & training
Auto (Complete auto worksheet)		Rent (office, leasehold, storage (1099‐MISC to unincorporate payees required)
Banks fees and charges
Cell phone (100% of cost) (X Business use %) =		Rent or Lease (Vehicles, machinery, equipment)
Commissions and fees		Repairs and Maintenance
Computers, equipment, furnitures (Complete the Asset Depreciation Worksheet shown on page 4)		Software (Enter on Depreciation Worksheet on page 4)
Contract Labor (You must issue a 1099 Misc to any unincorporated entity to whom you paid $600 or more for the year)		Supplies and small tools (Do not include equipment purchases ‐ see Depreciation Worksheet on page 4)
Dues and Subscriptions		Taxes ‐ Local & business licenses
Employee benefit programs		Taxes ‐ Payroll
Health insurance (employee)		Taxes ‐ Other (business ‐ not personal)
Health insurance (self/family)		Annual corporation fees
Insurance (other than health)		Telephone expense (Do not include cost of main home phone line)
Internet service		Travel
Interest ‐ Mortgage (business ‐ not home)		Utilities (Do not include home office)
Interest ‐ Business credit cards		Wages (W‐2 issueed to employees) Provide copies of W‐3, Annual 940 & Quarterly 941 reports filed).
Interest ‐ Business loans/credit line		Other Expenses
Laundry/cleaning/janitorial
Legal and professional services
Local (in‐town) meals
Entertainment
Merchant credit card fees
Office expense (Do not include equipment purchases ‐ see Depreciation Worksheet on page)
Parking & tolls
Postage & shipping

Corporation Balance Sheet
If the Corporation gross receipts and/or assets at the end of the year were greater than $250,000 the following information must be provided to the IRS. Even if the Corporation is not required to provide this information, we request you provide it, if possible
Assets at Year End		Debts & Equity at Year End
Bank account(s) end of year balance		Accounts Payable
Accounts Receivable		Payables Less than 1 Year
Inventories		Mortgages/Notes Payable ‐ 1 Year or More
Mortgages/Notes Receivable		Capital Stock (Preferred)
Loans to Shareholders		Capital Stock (Common)
Stocks, bonds, and securities		Loans From Shareholders
Other Current Assets (describe)		Retained Earnings
Notes For Balance Sheet

Asset Depreciation Worksheet
You must report the purchases and disposition of all assets you used in your business during the year For each asset bought or sold, provide the following information:
Assets Purchased During the Year				Assets Sold or Disposed of During the Year
Description	Date Bought	Cost	Used/New?	Description	Disposition Date	Sales Price	Action

Business Use of Automobile Reporting Requirements
The IRS closely scrutinizes business‐use of automobiles. Documentation must be kept to prove business use of Corporation‐owned or shareholder‐owned vehicles. If a shareholder or an employee used his or her automobile for active conduct of Corporation business: The Corporation can provide reimbursement for actual operational expenses of the vehicle or it can reimburse using an allowable standard mileage rate. A written log or other record must be maintained and submitted to the Corporation For each shareholder or employee for whom the Corporation paid auto‐expense reimbursements during the year, the Corporation should maintain a written record of the expenses incurred and the reimbursements paid The Corporation may claim actual operational expenses incurred for vehicles that are owned by the Corporation Proof of business use in the form of a mileage log or a written calendar must be maintained unless it can be shown the vehicle was 100% business use. If the business provided a vehicle for employee use, complete Section B below. For any vehicle that was used by a 5% or more owner of the business, additional information must be reported to the IRS. Complete Section A shown below .

Business Use of Automobile Reporting Requirements

The IRS closely scrutinizes business‐use of automobiles. Documentation must be kept to prove business use of Corporation‐owned or shareholder‐owned vehicles.

If a shareholder or an employee used his or her automobile for active conduct of Corporation business:

The Corporation can provide reimbursement for actual operational expenses of the vehicle or it can reimburse using an allowable standard mileage rate.

A written log or other record must be maintained and submitted to the Corporation

For each shareholder or employee for whom the Corporation paid auto‐expense reimbursements during the year, the Corporation should maintain a written record of the expenses incurred and the reimbursements paid

The Corporation may claim actual operational expenses incurred for vehicles that are owned by the Corporation

Proof of business use in the form of a mileage log or a written calendar must be maintained unless it can be shown the vehicle was 100% business use.

If the business provided a vehicle for employee use, complete Section B below.

For any vehicle that was used by a 5% or more owner of the business, additional information must be reported to the IRS. Complete Section A shown below .

Vehicle 1 ‐ Section A Provide the following information for each vehicle used by a 5% or more owner of the business
Purchase Price of vehicle
Description (Model and Year)		Date vehicle was first used in your business
For this tax year only, enter the number of miles your vehicle was used for:
Business Miles (not including commuting)
Commuting Miles
All other personal‐use miles
Interest paid on auto loan used to purchase this vehicle
Was the vehicle available for personal use?		Yes No
Was the vehicle used primarily by a 5% or more owner of the Corporation?		Yes No
Is another personal‐use auto available?		Yes No
Do you have evidence to support this deduction?		Yes No
If “Yes”, is the evidence written?		Yes No
Vehicle 1 ‐ Section B Additional Questions for Corporation Providing Vehicles for Use by Employees
Does the Corporation maintain a written policy prohibiting all personal use of company vehicles?		Yes No
Does the Corporation maintain a written policy prohibiting all use except commuting?		Yes No
Does the Corporation treat all use of vehicles by employee as personal use?		Yes No
Does the Corporation provide more than five vehicles to employees and keep record?		Yes No

Vehicle 1 Expenses
Mileage reimbursement amount paid to shareholders and employees for the year $
(Provide these expenses if the corporation is NOT claiming the standard mileage rate)
Garage Rent		Repairs
Gas		Tires
Insurance		Tolls
Licenses		Registration Fees
Oil		Other Expenses (list):
Parking Fees
Lease Payments

Notes/Comments
Comments