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Business Tax Returns

Let Ludwig & Associates, Ltd. help you navigate the complexities of the tax code, whether you are a sole proprietor, partnership, LLC, S-Corporation or a C-Corporation. In addition to business income tax returns, we also prepare sales tax returns and payroll tax returns.

Information to bring to your tax preparer:

  • Prior two year’s tax returns
  • Payroll tax returns (if applicable)
  • Incorporation papers (if applicable)
  • Small business election (if applicable)
  • Estimated tax payments and canceled checks
  • New car trade in and purchase
  • All 1099 MISC (if applicable)
  • 1099K (if applicable)
  • Legal name of business
  • Legal address of business
  • Names, addresses, and social security numbers of all officers and/or shareholders

Small Business Check-List

Income

  • Gross receipts or sales (1099K if received)
  • Returns and allowances
  • Inventory at beginning of year
  • Cost of merchandise purchased for resale
  • Cost of labor directly related to product or service
  • Material and supplies directly related to product or service
  • Other direct costs
  • Inventory at end of year



Capital Equipment


  • New equipment purchased in 2015
  • Description
  • Date of purchase
  • Cost
  • Percentage of business use
  • Prior equipment


Home Office


  • Square footage of office
  • Square footage of home
  • Indirect expenses
  • Real estate tax
  • Mortgage interest
  • Home Insurance
  • Utilities-itemized
  • Direct expenses of business portion of home
  • Date placed in service
  • Cost plus capital improvements

Expenses

  • Advertising
  • Bank charges
  • Commissions & fees
  • Business insurance
  • Business interest
  • Legal & professional fees
  • Office expenses
  • Rent/lease: machinery or equipment
  • Rent/lease: other business property
  • Repairs & maintenance
  • Supplies
  • Taxes paid:
  • Business income tax (IRS and IL)
  • Sales tax
  • Unemployment tax paid (IRS and IL)
  • Other taxes
  • Licenses
  • Out of town travel
  • Hotel
  • Plane
  • Car/cab/limo
  • Other
  • Meals and entertainment
  • Utilities
  • Wages
  • Subcontractors: (Name, address and social security number of all contractors paid $600 or more)
  • Health Insurance

Auto Expenses

  • Description of vehicle
  • Vehicle used by employee/owner
  • Cost (include sales tax)
  • Date placed in service
  • Total mileage (January 1-December 31)
  • Business miles
  • Commuting miles
  • Personal miles
  • Other expenses:
  • Gas
  • Oil change
  • Repairs
  • Car wash
  • License plates
  • Vehicle sticker
  • Insurance
  • Interest on auto loan
  • Lease payments
  • Auto rentals
  • Tolls
  • Parking
  • Other
  • Written record of auto mileage