Corporate Tax Checklist

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Please furnish a detailed list for each item with names and dollar amounts associated. This information will serve as a reference for any type of possible inquiry by state and federal officials.

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Bank account balances:
Name of bank and balance of money in account

Accounts Receivable:
Amounts owed to your organization by clients, patients, & customers

Business equipment, land, buildings, vehicles:
Full description of all new assets purchased during the year including date purchased, cost, financing agreement

Ending Inventory:
Amount of inventory at year end

Loans:
Amounts owed to banks (principal only)
Amounts borrowed during the year
Amounts paid off during the year
Copy of any loan document

Accounts Payable:
Amounts owed by your organization to vendors, government, customers

Shareholder Loans:
Amounts borrowed from shareholder/owner
Amounts paid by shareholder/owner

Revenues/Deposits:
Itemized list of income received during the year

Itemized list of income received during the year
Itemized list of expenses paid during the year
Amounts paid for owner health insurance
Amounts paid for employee health insurance

Unreimbursed Expenses paid by Shareholder:
Itemized list of expenses paid by shareholders relating to business