2009 Small Business Checklist
Income
- Gross receipts from sales or services
- Sales records (for accrual based taxpayers)
- Inventory (if applicable)
- Beginning inventory
- Inventory purchases
- Ending inventory
- Items removed for personal purposes
- Returns and allowances
- Business checking and savings account interest (1099-INT or statement)
- Other income
Expenses
- Advertising
- Transportation and travel expenses
- Local transportation
- Business trip (mileage) log
- Contemporaneous log or receipts for public transportation, parking and tolls
- Travel away from home
- Airfare or mileage (actual expense if drove)
- Hotel
- Meals and tips
- Taxes and tips
- Internet connection (hotel, Internet cafe, etc.)
- Other
- Commissions paid to subcontractors
- File Form 1099-MISC and 1096 as necessary
- Depreciation
- Cost and acquisition date of assets
- Sales price and disposition date of any assets sold
- Fringe benefits
- Employer-paid pension/profit sharing contributions
- Employer-paid HSA contributions
- Employer-paid health insurance premiums
- Cost of other fringe benefits
- Business insurance
- Casualty loss insurance
- Errors and omissions
- Other
- Interest expense
- Mortgage interest on building owned by business
- Business loan interest
- Legal fees
- Office supplies
- Pens, paper, staples, etc.
- Other consumables
- Rent expense
- Office space rent
- Business-use vehicle lease expense
- Other
- Office-in-home
- Square footage of office space (hours of use for daycare business)
- Total square footage of home (not applicable for daycare business)
- Mortgage interest or rent paid
- Utilities
- Wages paid to employees
- Form W-2 and W-3
- Federal and state payroll returns (Form 940, etc.)
- Other expenses
- Repairs, maintenance of office facility, etc.
