• DP Financial & Tax, Inc.

Getting Your Ducks in a Row


Let’s face it – What you do, you do well. However, numbers may not be your thing. That’s okay. That’s why you’re not an accounting firm. Numbers are our thing. Let us help you gather your information for taxes in a way that can be quick and pain free, so you can get back to doing what you do well.


Here are a few key pieces of information that will be needed to process your business tax return:

1. Assets:

  • New Asset Listing – An asset listing showing the asset description, dollar amount, and date of purchase for each new asset purchased by the business during 2016. (If we provide accounting services for your firm, we will already have this information.)

  • List of Sold or Disposed Assets - A list of any assets that you either sold, gave away, or threw away with asset description, dollar amount received, and date of disposal for each asset sold or disposed of by the business during 2016.

2. Labor:

  • Payroll Forms – Form W-2’s & Form W-3, if your business has payroll. (Please provide these even if we have access to your monthly on-line payroll reports with your payroll company.)

  • Contract Labor Forms - Forms 1096 & all 1099-MISC issued or received by your business. (NOTE: If you need us to provide these forms for your contract labor/vendors, you will need to provide us the name, address, SS# / EIN, and amounts paid in 2016 for each person. The deadline for these is Jan 20th.)

3. Banking:

  • Income & Expenses - If we do not provide the accounting services for your business, we will need records of all income and expenses. (Or financial statements and/or QuickBooks file.)

  • Ending Balances - 12/31/2016 Year Ending Balances for your 1) Inventory, 2) Accounts Receivable, 3) Accounts Payable (if applicable), 4) Business Credit Cards, and 5) Business Loans/Notes.

  • Business Loan/Credit Card Interest - Total interest paid on any business loans/notes and business credit cards.

4. Misc:

  • Shareholder/Partner Contributions & Distributions - Total amount of personal contributions for 2016 into the company and total amount of distributions (non-W-2 wages) per shareholder/partner for 2016.

  • Business Mileage - Total amount of business mileage, for each vehicle used for business, during 2016 and the number of personal/non-business miles put on the vehicle.

With the plethora of information needed for tax preparation, sooner rather than later is definitely the mindset needed for the business tax season. We appreciate the opportunity to service your tax needs which allows you to focus on your growing business.

Help us grow in 2017!

This year, one of our goals is to offer our services to several others just like you!

Many of our best relationships have come via introductions from our clients. Do you know someone who could benefit from our services?

We would be honored if you would forward this email to anyone you feel could benefit from the information, or our services.

Thank you!

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© 2019 by DP Financial & Tax.

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