Business Tax Checklist

Business Tax Documents

• Corporate formation documents.
• Report of all revenue earned during the year.
• Report of all expenses during the year.

Busieness Expenses Documents

• Advertising expenses.
• Banking fees.
• Business gifts.
• Business-related education.
• Charitable contributions.
• Conference and convention fees.
• Equipment and furniture.
• Health-insurance premiums.
• Insurance.
• Interest and fees.
• Losses from theft, fraud, damage from natural disasters.
• Meals and entertainment.
• Membership dues.
• Moving expenses.
• Office rent expenses.
• Office supplies.
• Postage and shipping expenses.
• Professional fees including: legal help, accounting and bookkeeping, business consulting and marketing consulting.
• Property taxes.
• Repair and maintenance on the building, grounds, and equipment.
• Retirement accounts for self and employees.
• Salaries of employees.
• Software costs.
• Sales tax on items purchased for business usage.
• Real estate tax on business property.
• Employer's share of employment taxes.
• Excise taxes and state income tax.
• Telephone and telecommunications expenses.
• Trade-show exhibition and/or attendance.
• Travel expenses.
• Utilities.

Tax Deduction

• Employee remuneration can be deducted from your taxable income.
• You may deduct both direct advertising expenses and promotional expenses.
• You may deduct fees for attorneys and accountants.
• You may deduct the purchase price for business equipment such as computers, machines or furniture.
• You may deduct up to 50 percent of reasonable business entertainment and meal expenses.
• You may deduct 100 percent of business travel expenses.
• Your company may deduct 100 percent of any amounts paid for state and local taxes and taxes paid to any foreign government.
• Corporations may deduct up to 10 percent for charitable donations.