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Horizon Accountants  

Horizon Accountants
113 South Timber Way
Broadway, VA 22815

540-896-3330

Certified Public Accountant

General Check List for Corporations, LLCs (Partnerships) and Sole Proprietorships

These are the items requested for your tax appointment:

  • Complete set of books (balance sheet and income statement) print out from accounting package
  • Break out between cash receipts and credit card receipts for business revenue
  • Cash Receipts and disbursements summary if this method is used
  • Checking account bank statement as of December 31
  • Savings account bank statement (if any) as of December 31
  • Have all monthly bank statements handy in one folder
  • Detail of fixed asset purchases (vehicles, equipment)
  • Proceeds from any sales of assets noted (include what was sold)
  • Real estate settlement sheets, if any
  • Copies of quarterly 941s
  • Copy of W-3 transmittal
  • Stock ownership changes
  • Inform us of any dividend distributions

Questions:

  • Whether your corporate minute book is up to date?
  • County or city property tax returns to be filed?

We will follow up with an exhaustive list of questions during preparation time.

Record Retention Schedule:

Copies of tax returns forever   Paid vendor invoices 3 years
Tax/legal correspondence forever   Employee payroll records  3 years
Contracts and leases forever   Depreciation schedules  forever 
Real estate records forever   Property tax returns forever 
Bank statements 6 years   Copies of paid loans forever 
Accounting records/books 6 years   Canceled checks 3 years
Employee expense records 3 years      

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