Small Business Tax Preparation Checklist Below is the information you will need to gather for the preparation of your business income tax returns. Our Small Business Organizer may also be beneficial. IncomeGross receipts from sales or servicesSales records (for accrual based taxpayers)Beginning inventory (if applicable)Ending Inventory (if applicable)Items removed for personal purposes (if applicable)Returns and allowancesBusiness checking and savings account interest (1099-INT or statement)Transportation and Travel ExpensesLocal TransportationBusiness trip (mileage) logContemporaneous log or receipts for public transportation, parking and tolls.Travel away from homeAirfare or mileage (actual expense if drove)HotelsMeals and tipsTaxes and tipsInternet connection (hotel, Internet café, etc.)Additional ExpensesAdvertisingCommissions paid to subcontractorsFile Form 1099-MISC and 1096 as necessaryDepreciationCost and acquisition date of assetsSales price and disposition date of any assets soldFringe benefitsEmployer-paid pension/profit sharing contributionsEmployer-paid HSA contributionsEmployer-paid health insurance premiumsCost of other fringe benefitsBusiness insuranceCasualty loss insuranceErrors and omissionsOtherInterest expenseMortgage interest on building owned by businessBusiness loan interestLegal feesOffice suppliesPens, paper, staples, etc.Other consumablesRent expenseOffice space rentBusiness-use vehicle lease expenseOtherOffice-in-homeSquare footage of office space (hours of use for daycare business)Total square footage of home (not applicable for daycare business)Mortgage interest or rent paidUtilitiesWages paid to employeesForm W-2 and W-3 Federal and state payroll returns (Form 940, etc.)Other expensesRepairs, maintenance of office facility, etc. Have a Question Name Email Address Phone Question Thank you! Oops!