Small Business, Big Return: Your Tax Filing Checklist for April 15

Filing taxes for the first time as a small business owner can be one of those unforeseen struggles.

To make sure you have everything you need come tax season, you need to have a tax filing checklist.

Tax filing checklist

We know how difficult and time-consuming it can be to make note of everything during hours of research.

So, instead, you can use our comprehensive tax filing checklist to save you time, money, and hassle on your tax deadline.

Tax Filing Checklist for Small Businesses

Financial Records

Keeping a record of everywhere your money goes during the fiscal year is a hallmark of good business practice and one of the top tax return tips.

Having an accurate recount of your expenses makes sure that you get the maximum tax refund on your business tax return while avoiding pesky audits.


Typically, you can write off business expenses to lower your tax liability.

Through the year, you can keep a record of these expenses through a documenting system along with receipts.

Income Statements

Income statements show your net income after expenses and losses. This is important to have when filing your tax return so you can make an accurate report to the IRS.

You can also use a check stub generator to show proof of income.

Taxpayer ID Numbers

Having a record of your social security number (SSN) as well as your Employer Identification Number (EIN) is required to file your taxes.

You can find these on old tax returns or by contacting the IRS.

Know Your Business Tax Form

Which business owner tax form you’ll use will depend on what kind of business you are.

If you are a partnership, a business with two or more individuals, you’ll use Form 1065.

If you are a sole proprietor or business of one individual, you’ll attach a Schedule C form to your standard 1040 return.

If you are a corporation, you’ll utilize Form 1120.


As a small business, there’s an extra tax incentive to help your employees out with their insurance premiums.

If you contribute to at least fifty percent or more of your employee’s insurance premiums, you might be able to receive a tax credit of up to 35% of your contribution.

For this reason, it’s a good idea to keep hefty documentation of how much money you allocate to your employee’s health insurance payments.

Keep a Good Accountant On Call

Taxes can be confusing, especially when you’re trying to figure out how to get a maximum tax refund.

Because tax mistakes can be detrimental to your business, sometimes you need to have an expert at your fingertips.

For the best possible results, consider working with an accountant to help manage your finances all year long. This can also take the stress off of tax season.

Filing Your Taxes Is Time Consuming but Not Impossible

Don’t let tax season stress you out. The beginning of easing your anxiety begins with this tax filing checklist.

As a small business owner, we’re sure business news interests you.


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