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REQUIREMENTS

Liberty Tax will need proof of business existence, income, expenses, and more.

small business owner

If you were operating a business in 2022, we'll help you overcome your TAXiety and ensure the tax prep process goes as smoothly as possible. To confirm all IRS requirements have been met at the time of filing we need support for business existence, income, and expenses, so please make sure you have the following items with you when you arrive:

    • Support for business existence
      • This can include one item from the following list:
        • Bank records for a business account
        • A ledger maintained throughout the tax year
        • Leases/rental invoices/property tax statements for commercial space that name you as the responsible party
      • Or two different items from the following list
        • A business license or other business certification/registration with a secretary of state
        • Forms 1099
        • E-mails or other correspondence with customers that took place during the tax year
        • Printed advertisements for the business naming you as the business owner (newspaper ads, business cards, etc.)
        • Proof that the business exists from a website or other online source (like social media pages) naming you as the business owner
        • The names and contact information of the business’ customers.
    • Support for business income
      • Includes items such as:
        • 1099s
        • summary reports from Uber/Lyft
        • customer appointment calendars
        • invoices sent to customers
        • bank records
        • digital payment records
        • income receipts
        • records of services provided and the fees charged for those services
        • a logbook or ledger
      • Support for business expense
        • Includes items such as:
          • receipts or invoices
          • mileage logs for business use of your vehicle
          • summary reports from Uber/Lyft
          • bank or credit card statements
          • a logbook or ledger
          • payroll records
          • inventory purchase records

OVERCOME TAXIETY

If you did not maintain records of all income and expense throughout the year, please schedule an appointment with us to prepare your 2022 tax return.  We will ensure you have reserved enough time to walk through your business practices with us so we can help you reconstruct your income and expense records for the tax year. 

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