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Business Checklist

  • Record ending mileage as of 12/31/20
  • Retain written mileage records
  • Record the value of Inventory as of 12/31/20 (using actual cost you paid)
  • Separate and total all records
  • Submit only the totals for each expense (you retain records for future reporting )
  • Provide Real Estate taxes
  • Attorney fees
  • Bank fees
  • In Home Business: provide total sq. footage of home and only business section sq. footage. Two separate totals required

Provide misc. 1099 to anyone you paid over $600.00 in 2020.

Tax Due Date is April 15, 2021