BUSINESS TAX RETURN SUBMISSION GUIDELINES
At Casler Financial, we are committed to delivering accurate and timely tax preparation services for your business.
To ensure efficient processing and to maintain the highest standards of accuracy, please submit the following items by February 15th in order to have your business return prepared and ready to file by the March 15th deadline:
• Prior Year Tax Return: Submit the complete copy including all worksheets and schedules. Prior year Tax Return Schedule L should match prior year books Balance Sheet.
• Financial Statements: Provide fully adjusted Profit and Loss and Balance Sheets for the current and previous year. Provide current year summary and detail trial balances if available. A GL report for the year can also be very helpful if we don't have direct access to your books.
• Depreciation Schedules: These should be included in your prior year tax return but sometimes other accounting firms leave them out and you need to go back and request them.
• Payroll: Provide W-2s and W-3. Verify that wages, shareholders’ wages and health insurance (when applicable), payroll taxes and retirement plan expenses are accurately reflected in books.
• Acceptable File Formats: PDF, Word, Excel. Please No JPEG, PNG, Outlook files, or similar formats will be accepted. If you need to scan documents with your phone, please use an app like CamScanner to scan your documents into pdf format.
Ownership and Entity Information:
• Ownership Details: For corporations, include the name, address, and SSN of each owner along with their respective share number and/or percentage. For partnerships and multi-member LLCs (Form 1065), include the percentage of profit, loss, capital, and partners’ share of liabilities along with a schedule of any ownership changes during the year.
• IRS S-Corporation Acceptance: A copy of the IRS S-corporation acceptance letter is required for all 1120-S returns.
Please do not submit conflicting information.
If you have any additional questions about what we will need in order to prepare your entity tax return, feel free to reach out via email admin@caslerfinancial.com
If you are a new client, please ensure that your 12/31/23 balance sheet matches the 2023 Schedule L (Balance Sheet) on the tax return. If it does not match, it could mean that changes occurred to your books after the tax return was prepared, or it could also mean that there were adjusting entries that should have been made to your books as of 12/31/23 that may still need to be made. Please consult with your bookkeeper or accountant to ensure that your books are up to date, reconciled and in balance in order for us to accurately prepare your 2024 tax return.
If you have already onboarded with us for the upcoming season, we should have a copy of your prior year return already. You will receive an email in early January prompting you to sign the engagement letter, answer a questionnaire and upload the documents listed here.
If you have questions as we approach year end, I do have a handful of advisory sessions still available that can be self scheduled online here:
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