Core business records
Business tax preparation is easier when income, expenses, bank activity, mileage, equipment, and payroll records are separated and organized.
- Income totals and deposit records
- Expense summaries by category
- Bank and credit-card statements
- Mileage logs and vehicle records
- Equipment, asset, and large purchase details
Payroll and contractor details
Employee and contractor records can affect year-end business reporting and tax preparation. Keep payroll reports and contractor information together.
- Payroll reports
- Employee wage records
- Contractor payment summaries
- W-2 or 1099 coordination records
- Bookkeeping reports if available