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Sole Proprietor

NOTE: Unless we are engaged to provide bookkeeping services, we do not provide these as part of our tax services. Therefore, we rely completely upon what you give us. Here are some suggestions to help you complete the forms in the Organizer related to your business.

IF YOU USE QUICKEN OR QUICKBOOKS: To avoid confusion, please either give us a copy of your Quicken or QuickBooks disk for the year OR complete the Organizer. If you provide us with your Quicken disk, be sure to categorize all miscellaneous or un-categorized items: we cannot guess what these items are. Please give us the password if you use one.
CASH OR ACCRUAL: In most instances, a sole proprietor must use the cash method of accounting. This means that you must declare all items of income actually or constructively received during the year as taxable income and all amounts actually paid during the year for deductible expenses. If you have any question as to whether you are a cash basis or an accrual basis taxpayer, please call us before beginning to fill in the Organizer.
MORE THAN ONE BUSINESS IS CLAIMED: If you own more than one business or if you and your spouse had separate businesses, be sure to fill out separate Organizer pages for each business. This includes information for the use of cars in the separate businesses. Be sure you identify which items of income and expense relate to each business.
RETIREMENT CONTRIBUTIONS: Let us know what kind of retirement plan you have, the amount of contributions you have made to date, and the total amount you expect to make.
OFFICE IN THE HOME: See article in our Resources section about having a Home Office.
CREDIT CARD EXPENSES: If you have paid business expenses with a credit card, be sure to categorize those expenses.

Also, please see our Year End Checklist for Sole Proprietors and Single-Member LLCs.

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Overview Business Financial Planning Individual QuickBooks Other Tax Organizer – Providing Us With Your Home Office Information Massachusetts Use Tax Tax Organizer for the Sole Proprietor		Sole Proprietor NOTE: Unless we are engaged to provide bookkeeping services, we do not provide these as part of our tax services. Therefore, we rely completely upon what you give us. Here are some suggestions to help you complete the forms in the Organizer related to your business. IF YOU USE QUICKEN OR QUICKBOOKS: To avoid confusion, please either give us a copy of your Quicken or QuickBooks disk for the year OR complete the Organizer. If you provide us with your Quicken disk, be sure to categorize all miscellaneous or un-categorized items: we cannot guess what these items are. Please give us the password if you use one. CASH OR ACCRUAL: In most instances, a sole proprietor must use the cash method of accounting. This means that you must declare all items of income actually or constructively received during the year as taxable income and all amounts actually paid during the year for deductible expenses. If you have any question as to whether you are a cash basis or an accrual basis taxpayer, please call us before beginning to fill in the Organizer. MORE THAN ONE BUSINESS IS CLAIMED: If you own more than one business or if you and your spouse had separate businesses, be sure to fill out separate Organizer pages for each business. This includes information for the use of cars in the separate businesses. Be sure you identify which items of income and expense relate to each business. RETIREMENT CONTRIBUTIONS: Let us know what kind of retirement plan you have, the amount of contributions you have made to date, and the total amount you expect to make. OFFICE IN THE HOME: See article in our Resources section about having a Home Office. CREDIT CARD EXPENSES: If you have paid business expenses with a credit card, be sure to categorize those expenses. Also, please see our Year End Checklist for Sole Proprietors and Single-Member LLCs.