Tax Filing Checklist for Business Owners
- The Winston CPA Group
- Jan 19
- 3 min read
What to Gather as Tax Season Approaches
As January comes to a close, business owners will begin receiving 1099s and other tax documents over the next several weeks. Forms may arrive at different times by mail or email. For many business owners, this is also the moment they begin thinking about records that were pushed aside during a busy year. Having your documents ready for your tax professional reduces delays in filing and leads to a more accurate return.
Each tax season, it's common for business owners to start thinking about all the bookkeeping and accounting work that didn't get done through the year. Your books need to be organized and current for the best possible outcome on your tax return. If you haven't tracked income and expenses all year, you'll need to hire someone to get your books in order. This gives your tax professional a full picture of your financials which will determine the complexity of your tax return.
This tax filing checklist outlines the information and documents commonly needed to prepare a business tax return. Every business is different and your return may require additional information, but this tax checklist serves as a starting point for the most common documents need to file your tax returns.
Tax Filing Checklist: Personal and Business Information
Full legal name of owner(s)
Business legal name and entity type
Business Employer Identification Number (EIN) What is this?
Non-expired identification for all owners
Prior year tax return, if available
Tax Filing Checklist: Business Income
Business income includes both earned and unearned income received during the year. Income should reflect all sources, regardless of how payment was received. Expect to receive 1099s or W-2s from customers you've done business with or merchants (Stripe, CashApp, etc.) you've used to accept payments from customers.
Earned Income
Forms 1099 for freelance or contract income
Records of payments received via cash, check, credit card, or electronic platforms such as Cash App, PayPal, Stripe, or similar services
Form W-2 for any employment income
Records of miscellaneous income
Unearned Income
Gambling winnings
Investment income, including interest and dividends
We're sharing our calendar for you to book a consultation to discuss your tax situation. Choose a day and time that works for you below:
Tax Filing Checklist: Business Expenses
Business expenses are things you've paid for to run your business. Just because you bought something for the business doesn't automatically make it tax deductible. Business expenses must be (1) ordinary, (2) necessary, and (3) documented. Records should include the date, amount, purpose, and business connection for each expense. We're including this list of 49 tax deductions for business, with examples below.
Vehicle Expenses for Business
Gas and fuel
Mileage logs
Parking and tolls
Car washes
Tires
Auto insurance
Interest portion of vehicle payments
Lease payments
Repairs and maintenance
Travel Expenses for Business
For travel connected to client meetings, conferences, or other business purposes.
Flights
Hotels and lodging
Conference fees, meals during travel
Dry cleaning, meals, and incidentals during business travel
Parking, tolls, and car services such as Uber or Lyft
Other Common Business Expenses
Meals with clients
Business or client gifts
Charitable contributions, including cash and property
Professional dues and memberships
Business registration and licensing fees
Business-related education, courses, or workshops
Tax Filing Checklist: Additional Supporting Documents
Business financial statements
Business bank statements
Records of estimated tax payments, if applicable
A Note About Tax Returns for Business Owners
Some owners reviewing this list may realize that they have these expenses but didn't deduct them in prior years. Others may look at this list and realize they haven't kept up with their books all year. At The Winston CPA Group, we maintain our clients books all year round so that tax season is easy.
Next Steps for Filing Small Business Taxes
As tax season progresses, gathering documents early allows time for thoughtful review and informed decisions. For business owners who would like to discuss their situation or understand how their records fit into the filing process, The Winston CPA Group’s tax consultation calendar is available now.
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