CBA Blog

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What info does my CPA needs

Preparing small business taxes can be daunting task. So, hiring Tax Accountant can help save time and create peace of mind.  Before you head up to your Tax CPA, here are a list of must haves for your Tax Accountant to file your small business taxes. 

Unless you are a regular client, your Tax Accountant will need

Personal Information: If you are a sole-proprietor or partnership, you will need to provide your basic information, including legal name, current address and social security number (SIN) and date of birth (DOB).  

Business information: If you are an incorporation, you will need to provide copy of business number, Certificate of incorporation. 

Previous Year's Tax Return: This helps them get a better understanding of your business and gives quick information about the deductions your company has (or hasn't) been taking. 

Financial Business Report: At minimum, this includes Income Statement and Balance Sheet.  To speed up the process, do provide accounting access to your Tax Accountant to view your books in the cloud like QBO. 

Other Report: Asset, Loan, Deductible expenses - home office, mileage log, travel, donation, Payroll report, Closing Inventory count, other report. 

 

 

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