Download this template to help you gather tax information for your C Corporation, S Corporation, or Partnership.
Some information you will need includes:
- Your entity information, such as business code, start date, incorporation date
- Principal Shareholders or Partners and their Tax ID numbers
- If this is your first year of existence:
- A copy of the state incorporation or partnership agreement
- A copy of the letter received from the IRS after filing SS-4 showing Entity EIN number & official name
- If an S-Corp, the filed IRS Form 2553 - Election, & a copy of IRS acceptance letter allowing S-Corp status
Collect all documents that apply to your business:
- Asset additions and changes
- Notes, Loans, and mortgages held either in assets or liabilities
- Capital/Cash contributions to the business by shareholders or partner
- Capital/Cash distributions to shareholders or partners
- Non-standard contributions or distributions
- Employer and officer payroll information
- Final Bank statement or bank reconsolidation showing cash in a bank
- Real property loan and real estate information
- If the business employed independent contractors or made payments to unincorporated services/suppliers, provide copies of the 1099-Misc issued.
- If any shareholders or partners are residents of states not where the business is located or reside outside the US, provide details. There may be withholding requirements.
More than 140 million people file taxes in the U.S. each year, and more than half use a professional tax preparer. These consumers are served each year at Liberty Tax locations across the country – and our numbers are growing. Opening a tax franchise doesn’t require tax expertise. Liberty’s proven system provides the tools and makes the tax business a great business opportunity. Since 1997, Liberty Tax has grown to more than 4,300 offices in the United States and Canada. Find out more about the Liberty Tax opportunity at LibertyTaxFranchise.com.
Copyright © 2023 SCORE Association, SCORE.org
Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.