Get Tax Year 2014 Small Business Checklist - Tim Kelly

This guide provides a step-by-step approach to completing the TAX YEAR 2014 SMALL BUSINESS CHECKLIST - Tim Kelly online. It is designed to assist users in effectively navigating the form, ensuring accurate and thorough submissions.

Follow the steps to complete the checklist successfully.

1. Press the ‘Get Form’ button to access the checklist and open it for editing.
2. In Section A, provide your identification details. Specify the client(s) operating the business, the business name (if applicable), the business address (if not home-based), the federal tax identification number (if any), and the type of business.
3. Move to Section B, where you will detail gross income. Enter the gross self-employment income from all sources and any total refunds to clients and customers.
4. Proceed to Section C to calculate the cost of goods sold. Fill in the opening inventory value, purchases for resale, any withdrawals for personal or business use, and determine the closing inventory value.
5. In Section D, record general business expenses. This includes expenses for accounting, advertising, bad debts, bank fees, independent contractors, and various types of insurance.
6. Continue with Section E to list any other business expenses that do not fit the previous categories. Clearly describe each expense and its amount.
7. In Section F, enter vehicle expenses. Provide details on vehicle usage, including total mileage, business mileage, DMV fees, and if opting for actual expenses, list the associated costs.
8. For Section G, complete the home office expenses information. Enter the size of your home office, total living area, and any applicable utilities.
9. In Section H, document any capital expenditures. Describe the item, date placed in service, and its cost.
10. Complete the supplemental sections (I and J) as necessary, including child care provider information and real estate expenses.
11. Confirm any estimated tax payments made for the 2015 tax year in Section K, along with desired contributions to a SEP-IRA.
12. Finally, review all entries for accuracy, then save your changes, and choose to download, print, or share the completed form as necessary.

Start completing your TAX YEAR 2014 SMALL BUSINESS CHECKLIST online today.