2023 Business Tax - Tax Return Questionnaire

  • 2023 Business Tax - Tax Return Questionnaire

    • Business Information 

    • Please fill in this questionnaire with current information to assist us in preparing your 2023 (or prior year if relevant) tax return(s) for your business.

      The documents and information requested should be uploaded to your SmartVault Portal.  You can find a link to login to your Portal on our website www.taxtimeservices.com  under the client tab.

      Once you submit this form you will be emailed a summary copy of your responses and we will also upload a copy to your SmartVault portal, which you can use as a reminder for the informaiton you need to upload.

      Please reach out to us if you have any questions.

      Thank you

      Your Tax Time Services Team

    • Business Type*
    • Did you file an S-Corp election in 2023?*
    • Does your business currently operate at a physical location?*
    • Is this location new for 2023?
    • Did your business have employees in 2023*
    • Do you make any international sales or operate internationally?*
    • Tax Related Questions 
    • Are you a Bookkeeping client of Tax Time Services?*
    • Does Tax Time Services have current access to your QuickBooks Online? Please note we no longer can access QuickBooks Desktop Accounts for our clients.
    • If yes, please confirm that your accounts for 2023 are finalized and that you do not intend to make any additional entries or adjustments to the Profit and Loss and Balance Sheet. You also authorize Tax Time Services to pull reports from your 2023 QuickBooks Online to use to prepare your tax return and to lock your 2023 QuickBooks year to ensure it will continue to tie to the tax return.

    • If we do not have access to your QBO, please upload to your SmartVault Portal a detailed comparative Profit and Loss and Balance Sheet for 2022 and 2023 as an excel file (note we cannot prepare your return with a PDF file).

    • Did any Shareholders or Officers of the business work in the business and receive compensation in 2023?*

    • Please upload to your SmartVault Portal details of the Officers’ or Shareholders compensation schedule or W2 for 2023, including each Officer or Shareholders name, SSN, amount of compensation, and % ownership in company.

    • Did the business pay a Shareholder or Officer life insurance premiums during year for a policy that the business is a beneficiary of?*
    • Did the business purchase or dispose of any fixed assets in 2023?*

    • If yes, please upload to your SmartVault Portal a schedule listing out the additions and disposals including date of transaction, amount and asset description.

    • Did the business have any third party loans in 2023 (excluding credit cards)?*

    • Please upload to your SmartVault Portal statements to support the year end balances of all loans.  These statements must show the total interest and principal paid during 2023 and the principal balance remaining at Dec 31, 2023.  If a new loan, please upload the loan documentation.

    • During 2023, did the business have any Non-Shareholder or Partner debt that was advanced, canceled, forgiven, or had the terms modified so as to increase or reduce the principal amount of the debt?*

    • If yes, please upload to your SmartVault Portal documentation to support these tranasctions.

    • Did the business make any payments in 2023 that would require it to file Form(s) 1099? If unsure, we will call you to discuss.*
    • Did the business file or will it file the necessary Form(s) 1099?
    • During 2023 did any Shareholders, Partners or Members make any cash or non-cash property contributions to the business during the year or take any cash or non-cash property out of the business (this does not include any salaries paid through payroll)?*

    • If yes, please upload to your SmartVault Portal details of the contributions or withdrawals including any cash amounts and/or description of property.  If property was contributed please include the amount you originally paid for the property.

    • Did you sell any stock or interest in the business or add any new Shareholders or Members or Partners in 2023?*
    • Did the business make any estimated payments of Federal or State income taxes during the year?*

    • If yes, please upload to your SmartVault Portal details of the payments including date(s) and amount(s).

    • Did the business make any gifts or charitable contributions during the year?*

    • If yes, please upload to your SmartVault Portal details of the payments including, recipient(s), date(s) and amount(s).

    • Did the business enter into any new retirement plans in 2023? If yes, we will contact you to discuss.*
    • Did the business enter into any transactions using bitcoin or another type of virtual currency in 2023? If yes, we will contact you to discuss.*
    • Did the business apply for or receive any Earned Retention Tax Credit (ERTC) in 2023 for any payroll year and/or did you receive any refunds of the credit. If yes, we will contact you to discuss.*
    • Did the business receive any notices from any taxing authorities in 2023?*

    • If yes, please upload copies of the notices to your SmartVault Portal.

    • Did the business file any Sales and Use Tax returns in 2023?*
    • Did the business have any foreign bank accounts in 2023 (new or existing)? If yes, we will contact you to discuss.*
    • Did the business file a property rendition report or return for 2023?*
    • Do you give us permission to discuss this return with the IRS, if they contact you or us?*
    • Acknowledgement & Signature 

    • By signing below, you acknowledge and confirm that all information you entered here is true and correct and related to the tax year 2023 (January 1, 2023 to December 31, 2023 or fiscal year if relevant). You also permit Tax Time Services Inc. to capture and collect the information you entered in this form.

    • Date Signed*
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