- Padgett is your neighborhood small business tax specialist. We take care of it all - income tax, payroll tax, sales tax, any tax. We know all the tax deductions for small businesses.
- Your taxes will always be prepared accurately because we understand small business issues and will work to have a sound understanding of your business.
- Our local offices and national presence give us the ability and scope to understand your federal, state and local tax laws and how they affect your business.
- We guarantee prompt delivery of all completed business tax forms to assist you in making all tax payments effortlessly and on time.
Form Filing to all Tax Authorities
There is no need to worry about deadlines and forms. Here at Padgett Business Services of Colorado Springs we prepare all the necessary forms needed for the tax authorities.
- Sales Tax - Monthly or Quarterly
- Payroll Tax Deposits - Monthly or Quarterly
- Quarterly Payroll Taxes prepared - Form 941 and State
- Federal and State Unemployment prepared - Form 940 and UITR
- Withholding Statement for Employees - W-2 Forms or 1099s when client provides data. (additional fee)
- Business Personal Property Tax prepared, if applicable
Tax Planning
Padgett Business Services of Colorado Springs offers unlimited consultation for their clients' Reporting and Tax questions relating to the current operations and their tax implications at their business, at our office, by phone or at pick up of records and delivery of financial statements. These consultations includes advice of new tax laws that affect their businesses.
Padgett not only will prepare corporate and partnership income returns, but personal income tax returns as well. We are a one stop solution for your income tax return needs.
This tax organizer will assist you in gathering information and documentation necessary for the preparation of your fiduciary income tax return. Tip: Gather your information before delivering necessary documents to your accountant.
Business Income Tax Organizer:
Business name: _____________________________________
Today’s date:____/____/____ (mm/dd/yy)
Reports and data provided by: ____________________________
- This tax organizer will assist you in gathering information and documentation necessary for the preparation of your business income tax return.
- Please keep in mind that if you have provided some of these items before, such as tax identification numbers, you will not need to provide them again.
- You may download a more complete version of the Businss Income Tax Checklist.
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Description
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Provided
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Profit and loss statement for the tax year (accrual or cash consistent with prior year tax return). Did you include the report?
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Yes No
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Balance sheet as of the last day of the tax year (accrual or cash consistent with prior year tax return). Did you include the report?
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Yes No
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Balance sheet comparison for last day of tax year vs last day of previous tax year (if available you may provide this report instead of the one just above this item). To easily determine asset acquisitions. For the purpose of retained earnings reconciliation. Verify that no changes have occurred to prior year-end balance sheet after journal entries to adjust for that year’s tax return have been recorded. Did you include the report?
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Yes No
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General ledger for the tax year. If you are a QuickBooks/Peachtree user, please save the general ledger for the entire tax year into a Microsoft Excel spreadsheet format and provide the general ledger in an e-mail / save in electronic format and provide (accrual or cash consistent with prior year tax return). Did you include the report?
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Yes No
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Listing of additions to assets recorded on the balance sheet during tax year with a description of the item, purchase date and amount paid (including financed amount). Please indicate whether items are brand new and do not include items which have been expensed. [Simple definition of an asset: Any item which was purchased (incl sales tax) for $500 or more from which the business will benefit for more than one year must be classified as an asset.]
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Yes No
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Listing of any assets disposed of or lost to e.g. fire during tax year – how disposed of and amount sold for (identify assets from e.g. depreciation schedule). Did you include it?
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Yes No
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Bank reconciliation (last one for year). Did you include it?
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Yes No
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If there has been a change in the ownership structure, please provide names of e.g. new investors with names, addresses, social security number, date of investment and amount for each date Did you include such a schedule?
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Yes No
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Additional paid-in-capital per owner, date contributed and amount contributed per owner. Did you include such a schedule?
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Yes No
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Distributions/draws per owner for the tax year (unless provided on the balance sheet). Did you include the report?
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Yes No
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Forms W-3, W-2s (business owner’s), W-11s (2010 for 2011 HIRE credit), 1096, 1099-INT, 1099-DIV. If providing forms W-11, complete appendix to provide data for new hire retention credit for retained workers. Did you include these forms?
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Yes No
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Was medical insurance offered to employees (incl owners)? If an S-corporation, what amount was paid in premium for an owner who owns more than 2% of the S-corporation? Was the premium amount added to gross wages (box1) on the owner’s W-2? Complete appendix to provide data for small business health insurance tax credit under PPACA.
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Yes No
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Charitable contributions to [501(c)(3)organizations]:
Provide cash amount (includes cash, check, credit, debit). Provide non-cash amounts, description of items, dates donated and to which organization. If this is not provided, we will assume that the entire amount was donated in cash
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Yes No
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Guarantee of business debt:
If your company is taxed as a partnership, please provide member or partner name and corresponding partner debt amount guaranteed at year-end per LLC member or partner. Is such a schedule attached?
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Yes No
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Trade-in of property: If your company traded in one asset for another asset, please provide details of the transaction such as property given up, property received, transaction date, cash paid, cash received.
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Yes No
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Investor and not involved in business:
If your company had investors (members or partners) during the tax year who were not involved in running the business during the year, please provide their names
__________________________________ ____________________________________
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Yes No
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Timing of tax deductions: Are you motivated to maximize tax deductions on this income tax return? (If you believe that future tax years will be more profitable, you may get a greater tax benefit by delaying depreciation and amortization.)
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Yes No
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Provide identification numbers (if you have not provided it before):
Federal employer identification number
State identification number (not state unemployment insurance ID number)
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Yes No
Yes No
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Copy of prior two years’ income tax returns (unless prepared by our office)
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Yes No
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Padgett income tax engagement letter, signed and dated
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Yes No
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