2025 Business Tax Planning Checklist

  • 2025 Tax Planning Checklist

  • Please be sure to review this information carefully. Information provided on this form will be used in our firm client database and tax reporting. Estimated Time to Complete: 5 - 15 minutes

  • Income and tax projections: Are you on track?

  • Do you expect your 2025 income to be substantially different (more than 20% change)?
  • Is there anything out of the ordinary we need to expect for next year's planning?

  • Tax planning needs: How can we help you best?

  • Do you need more help budgeting your tax payments to stay current?
  • How many planning meetings would you prefer to have with our firm to review and update your income and tax picture?

  • Click on "Go to Next Page" to continue with your questionnaire. Need more Time? Click "Save for Later" only if you need to save your data and return later. If you do click Save for Later, you will receive an email with a link so you can return to it for completion.

  • Financial goals and needs: What is your plan?

  • What are your top 3 financial goals for the next 24-36 months?

  • Do you have a clear plan on how to achieve these goals?
  • Is there any type of service or planning item you would like our firm to provide to you beyond what is provided today?
  • Do you have an estate plan that is current and updated?

  • Personal Finances and Net Worth: How can you track wealth?

  • Do you use a budget for your personal income needs?
  • Are you interested in having our firm help you prepare one?
  • Do you have a personal financial statement updated annually?
  • Are you interested in having our firm help you with one?
  • What is your preferred investment vehicle to achieve your financial goals? (Select One)

  • Retirement Accounts: Help us document your accounts.

  • What type of retirement account do you currently contribute towards? (Select all that apply)
  • Is funding your retirement still a priority?

  • *Please provide our firm a copy of your current retirement account plan documents.

  • Business Expenses: Capturing all business-related expenses. (check options that apply)

  • Do you feel you have a clear sense of what is a business deduction?
  • Do you use your business bank account or business credit card only for business expenses?
  • Do you avoid using your business bank account/credit card for personal expenses?
  • Do you have documentation to support your auto mileage deduction?

  • Independent Contractors: Are you compliant?

  • Do all contractors meet the IRS requirements for independent contractors?
  • Have you provided 1099s to all your independent contractors?

  • Tax Records and Receipts: IRS audit proofing

  • Do you know what the IRS requirements are for your recordkeeping?
  • Do you keep at least 4 years of bank statements and/or credit card statements?
  • Do you keep at least 4 years of receipts for business expenses (paper or electronic)?
  • Do you feel you have adequate records to support your personal/business deductions?

  • Children You Provide Support to: Ages 17 and under only

  • Are you aware every individual can earn up to $13,850 tax free?
  • Do your children under age 17 work for you and/or your business?
  • Are you currently paying wages to your children under age 17?
  • Would you like to save for your child's education tax free using a ROTH?

  • Children You Provide Support to: Ages 18 and over

  • Are you aware every individual can earn up to $13,850 tax free?
  • Do your children under age 18 work for you and/or your business?
  • Are you currently paying wages to your children under age 18?
  • Is there any type of specific financial support you are providing to your children 18 and older?

  • Rental Properties: Please answer if you own a rental property.

  • Are you aware of your insurance limits for your property?
  • Do you have proper personal liability or umbrella coverage?
  • Do you have any personally owned rental properties?
  • If yes - do you have an interest in using an LLC to own this property?
  • You are almost DONE!  Review the two items below. SUBMIT YOUR ANSWERS: Once complete, click "Submit Answers" to transmit your response to our office. Select "Save for Later" if you'd like to edit responses prior to submitting.   YOUR ANSWERS WILL BE REVIEWED: We will review your submission to determine next steps.  Thank you for your time in completing this form!
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