2024 Business Questionnaire

Please complete this form by January 10, 2025. Thank you.

The information requested on this form is for the closing of your business books for 2024 and the preparation of your business income tax return. Please be sure that all information is accurate.

Please upload any additional attachments to your personal portal. It is imperative that we have this signed data sheet prior to completing your tax return.

If you need help preparing this form or need to set up your personal portal, please call or email your accountant.

FOR ALL ITEMS BELOW, PLEASE INDICATE THE BALANCES AS OF THE LAST DAY OF YOUR FISCAL YEAR

Business Name(Required)

Email(Required)

1. Inventory of Items for Resale at Year-End, Valued at Cost

Do not include equipment or operating supplies to be used within your business. Inventory should be counted in a manner consistent with method used in previous years.

2. Total Accounts Receivable at Year-End (accrual-basis businesses only)

Bills your customers owe you that are unpaid at year-end. You should have detailed records to support this total.

3. Uncollectible Customer Bad Debts (accrual-basis businesses only)

Yes

No

If yes, please upload details through your portal.

4. Total Accounts Payable at Year-End (accrual-basis businesses only)

Bills your business owes that are unpaid at year-end. Business payables only, not personal. Please attach detail. Do not show payroll taxes, sales taxes, or loan balances here.

5. Year-End Balances of Notes, Contracts, Loans, Mortgages, Sales Taxes, and Payroll Taxes Payable

From loan statements or as provided by lender.

Yes

No

If yes, please upload details through your portal.

6. During the year, did you have any business debt canceled, forgiven, or with modified terms?

Yes

No

6a. If so, did you receive a 1099-C?

Yes

No

If yes, please upload details through your portal.

7. Please provide ALL Form 1099s received (1099-MISC, 1099-NEC, 1099-INT, 1099-DIV, etc.)

8. Are your meal expenses properly substantiated?

Please retain date, names, amount, place, business purpose in your records

Yes

No

9. Have your entertainment expenses been properly separated from your meal expenses?

You should have detailed records to support this total.

Yes

No

10. Were there any changes in the shares of ownership or officers during the year?

Yes

No

If yes, please upload details through your portal.

10a. Did any shareholders or partners change their address?

Yes

No

If yes, please upload details through your portal.

11. Did you receive any other grants or funding?

Yes

No

If yes, please upload details through your portal.

12. Did you apply for or receive any Employee Retention Credits (ERC)?

Yes

No

13. Payroll
– please provide all 941s, including amended 941s, if you received any payroll credits (ERC).
– please provide a copy of your Form W-3 if you issued W-2s to employees in 2024.
please upload details through your portal.

14. Did you pay subcontractors in 2024?

Yes

No

14a. If yes, did you issue 1099s?

Yes

No

15. Are there any additional expenses of the business that were paid by officers/owners that have not been reimbursed? (items paid by personal check, credit cards, etc. that you have not told us about before)

Yes

No

If yes, please upload details through your portal.

16. Have you disposed, traded, acquired, and/or converted to personal use any equipment, furniture, or vehicles during the year?

Yes

No

If yes, please upload details through your portal.

17. Business Vehicle Information

(Do not report with personal information.)

Description

Total Miles Driven During the Year.

Business Miles

Commuting Miles

Personal Miles

Vehicle available for personal use?

Vehicle used mostly by owner or relative?

Another vehicle available for for personal use?

 

Add Remove

17a. Do you have evidence to support this business use?

If no, vehicle expenses may not be deductible.

Yes

No

17b. Is the evidence in writing?

If no, vehicle expenses may not be deductible.

Yes

No

17c. Do you have a written policy prohibiting personal use of business vehicles by your employees?

Yes

No

17d. If there are personal or commuting miles, how was this fringe benefit treated?

18. Owner/Officer Life Insurance Premiums: Were any life insurance premiums for owners and/or officers paid through your business?

Yes

No

19. Owner/Officer Medical, Long Term Care, and Disability Insurance Premiums: Were any medical, long term care, or disability insurance premiums paid for owners and/or officers?

Yes

No

20. Do you have an interest or signature authority over a financial account in a foreign country, such as a bank account, securities account, or other financial account?

Yes

No

21. Does your business engage in any transactions outside your state of operations?

Yes

No

22. Digital Assets/Cryptocurrency (Bitcoin, Litecoin, etc.): At any time during 2024, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency/asset?

Yes

No

If yes, please upload details through your portal.

23. If required, did you file the Beneficial Ownership Information Report (BOI)?

Yes

No

Comments or Questions:

Declaration(Required)

I have reviewed the information given to you on this form and to the best of my knowledge it is true, correct, and complete. I have maintained the underlying records required by law to support this information. I authorize Gift CPAs to prepare my business income tax return based on this information and to retain copies of appropriate documents

I agree

Name(Required)

Date(Required)

MM slash DD slash YYYY

Signature(Required)

Send my form to…(Required)

If you do not have an assigned CPA, or do not know, select “Other”.

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