2016 Business Tax Questionnaire

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Leslie King
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1 2016 Business Tax Questionnaire When you have completed this questionnaire, click on the Submit Form button in the top-right corner to send your completed questionnaire to us. Please send us an at to notify us that you have submitted your completed questionnaire. It is extremely important that you thoroughly complete this questionnaire and return it to us as it is designed to identify potential tax savings and to create a complete and accurate tax return. Submit the completed and signed 2016 Business Tax Questionnaire along with any additional tax information one of the following three ways: Upload your information electronically through our secure system, SafeSend. If you do not already have a link, please send us an at info@kevinshawcpa.com. Fax to Mail/Deliver to 1044 West Drake Road, Suite 201, Fort Collins, CO CONTACT INFORMATION (Please complete even if you have provided us the same information in the past): BUSINESS NAME: PRIMARY PHONE: ADDRESS: CELL PHONE: CITY/STATE/ZIP: PRIMARY CONTACT: TITLE: PRIMARY FAX: Please indicate your preferred method of contact ( , phone, etc.): Please provide the address for your paperless bill: Check here to OPT OUT of paperless billing WE WILL SEND YOU A COPY OF YOUR FINAL TAX RETURN IN A SECURE UNLESS YOU DO NOT HAVE OR YOU ASK US OTHERWISE. Please include with the completed questionnaire the following: Accountants Copy of your QuickBooks file with a 1/1/17 dividing date (or first day of your new fiscal year) with bank, credit card, and loan accounts reconciled. If your records are in a different accounting software, please provide a two-year comparative Balance Sheet and two-year comparative Profit & Loss Statement. If you do not use an accounting software program, please provide a summary of all 2016 business transactions (Excel format preferred). Year-end statements for any bank accounts, business loans and/or credit cards. Signed Shaw & Associates Representation Letter (visit Resources, Client Forms) If you send your file via Intuit, it to info@kevinshawcpa.com and enter your QuickBooks Transfer Password: (this password is specifically created when you transfer the file and may not be the same as your regular file password) Also please provide your Admin QuickBooks file password: NEW CLIENTS ONLY Please include the following, if not already provided to us: Prior year tax return (federal and state) Prior year depreciation schedules (you may need to contact your previous tax preparer) Articles of incorporation/organization, by laws, and/or operating agreement FEIN: State Account Number: IRS acceptance letter of S-corporation status, if applicable

2 a 5b 5c 6 General Business Tax Information YES NO COMMENTS Did the business receive any notices from the IRS or the State during the past year regarding taxes? (Please provide a copy if you have not already sent one to us). Were there any ownership changes during 2016? If so, please provide dates of changes; names, addresses, and social security numbers of new owners; new ownership percentages; and any legal documents supporting this change. Did the business purchase any fixed assets in 2016? If yes, please provide details including description, purchase date, and purchase amount (if not already detailed in your books). Did you dispose of any vehicles during 2016 that were used for any business purpose in the past? If yes, please provide details including sale/disposal date and sale/trade in amount. Does the business have a retirement plan (401(k), solo 401(k), SEP, Simple IRA, etc.)? - If yes, has the owner made any contributions for 2016 on behalf of him/herself? - If yes, will there be any additional contributions for 2016 before the tax return is filed? If so, how much? - If no, does the business owner want to make a contribution for 2016 or create a plan before the tax return is filed? Did the business owner use personal funds to pay for any business items in 2016 that are not recorded in your books? 6a - If so, please include a summary by expense category. 7 7a 7b 8 Please answer each question. If a question is not answered, we will assume it is not applicable to your current situation. If you are unsure, please note your questions in the comments. If any of this information is accounted for in your books of record, you do not need to provide us with the information twice. Please note in books in the space provided. This questionnaire is for use in preparing your business income tax return. There are many other taxes and regulations that impact your business that you need to be aware of, such as payroll taxes (941, 940, etc.), sales and use taxes, property taxes, etc. Please access our annual business checkup on our website for more information. If you have any questions, please contact us. During 2016, did the business owner have health insurance for the owner and/or owner s family? - If yes, were the premiums paid by this business or from the owner s personal funds (do NOT include any payments made through another employers plan) - If so, please provide the total paid in 2016 for the business owner and family. (If not already detailed separately in your books). This could include dental, vision, Medicare, Medigap, and/or COBRA. Did the business make any payments in 2016 that would require it to file 1099 Form(s) (1099-MISC, 1099-INT, etc.)? If you are unsure of the 1099 requirements, please contact us. 8a - If so, did the business file all required 1099 Form(s) for 2016?

3 Please answer each question. If a question is not answered, we will assume it is not applicable to your current situation. If you are unsure, please note your questions in the comments. If any of this information is accounted for in your books of record, you do not need to provide us with the information twice. Please note in books in the space provided. General Business Tax Information (continued) YES NO COMMENTS 9 Does the business own rental property? 9a 9b 9c - If yes, was there any personal use of any rental property in 2016? If so, provide the following information for each rental property that was used for personal use in If you have more than one rental property, please go to page 7 to provide information for additional properties. - Total number of personal use days (do not include repair days listed below) - Total number of repair days (any day you spent working substantially full time repairing and maintaining the rental property) 9d - Total number of days rented 9e Total number of days available for rent, but not rented or used personally or given away Did the business acquire rental or business real property during 2016? If yes, please go to page 6 to provide additional information regarding the purchase. Did the business have any foreign income, foreign bank accounts, other foreign assets, or any other foreign financial activity at any time during 2016? Did the business make any payments to foreign individuals or foreign entities during 2016? Did the business have any foreign partners/members/shareholders during 2016? Does the business owner or designee want to review the tax return before it is e-filed? S Corporations Only: As the shareholder of an S-Corporation, the IRS requires you to pay yourself (and other shareholders who work this business) a salary that is reasonable based on what you would have to pay a non-owner to do your job. This is based on a variety of factors, including: the work performed; number of hours; market rates; experience, education and proficiency required; etc. We strongly recommend you document your research and conclusions and keep this in your tax files; if the IRS determines that your salary is inadequate, they could assess additional payroll taxes as well as penalties. Based on this, do you believe that the salary you have recorded meets these requirements? 16 16a S Corporations Only for all officers that are paid compensation: Did all officers work the business full time (average 40+ hours/week) during 2016? - If no, how many hours per week on average did each officer work during 2016 (provide hours per week for each officer)?

4 Shaw & Associates provides a full range of services to our clients: Tax Planning & Consulting IRS Representation Estate, Trust or Gift Tax Returns Estate & Retirement Planning General Consulting: ex. Budgeting, Mortgage Refinance, etc. Business Consulting Financial Statement Preparation Compilations & Reviews Training: ex. QuickBooks, Payroll Payroll & Payroll Taxes W-2 or 1099 Preparation Sales Tax Filing Monthly, Quarterly, or Year-End File Reviews/Clean-Up Please contact our office at info@kevinshawcpa.com if you, or anyone you know, are interested in scheduling an appointment to discuss any of the above services in addition to submitting your tax questionnaire. This is optional and not required for the preparation of your tax return. The information above, and in the addendums below, for preparation of my (our) tax return is complete and correct to the best of my (our) knowledge and belief. I (we) have adequate records to support the information provided above and in the addendums below. Signature Signature Date Date

5 If any of this information is accounted for in your books of record, you do not need to provide us with the information twice. Please note recorded in books in the space provided. There are two Addendums on this page: Business Vehicle and Home Office Business Vehicle Information The IRS is enforcing more stringently their requirements for detailed mileage records that support business use of vehicles. It is the responsibility of the business owner to have these records available upon the request of the IRS. You cannot use estimates of mileage or business use. Because of IRS preparer penalties we are unable to estimate or calculate mileage for you. While we do not require that you provide us with these detailed records, it is imperative that you have them. If you have more than two vehicles used for business, please add additional vehicles on page 7. Please summarize your actual business vehicle use below: - Vehicle 1: already in your books, provide a summary of additional 2016 expenses (licenses, gas, oil, lease payments, insurance, registration fees, repairs, tires, etc.). - Vehicle 2: already in your books, provide a summary of additional 2016 expenses (licenses, gas, oil, lease payments, insurance, registration fees, repairs, tires, etc.). Home Office Information If the business owner has a qualified home office, please complete the following (include the total amount of each expense; we will calculate the home office portion): If you would prefer to use the IRS standard home office deduction of $5/square foot, indicate so in the box at the right and do not complete the remainder of the home office information below Mortgage Interest 2016 Property Taxes 2016 Utility Costs (Electric, Gas, Water, Sewer, Trash) 2016 Property Insurance Costs 2016 Maintenance Expenses 2016 Repairs 2016 HOA Fees 2016 Capital Improvements and/or Appliances (include description, date, and amount) 2016 Other Home Office Expenses (please describe): If we have not deducted a home office for you in the past or if you have changed home office square footage please provide the following: - Date home office first used. - Square footage of the space used solely for business. - Total finished square footage of the home, not including unfinished basements and garages. - If this is a new home office, purchase price of home plus cost of major improvements.

6 There is one Addendum on this page: Purchase of Rental or Business Real Property Purchase of Rental or Business Real Property If you purchased rental or business real property during 2016, please complete the following: There are certain items included in a real property purchase that can be depreciated over a shorter period of time than the building. Although this step is optional, by identifying the items below we can maximize the tax deductions for your property. Please provide copies of the purchase closing statement of any real property purchased in Also provide copies of any refinancing settlement statements if you refinanced the property after purchase. Please provide the value at purchase of the following items in the real property purchased: Refrigerator Stove Oven Dishwasher Microwave Washer Dryer Flooring Window Coverings Hot Water Heater Furnace Air Conditioner Roof Landscaping Other (please describe)

7 You do not need to fill out this form if you do not have any business vehicles or have less than 3 business vehicles. Please return to the beginning of the business vehicle information on page 5. Business Vehicle Information - The IRS is beginning to enforce more stringently their requirements for detailed mileage records that support business use of vehicles. It is the responsibility of the business owner to have these records available upon the request of the IRS. You cannot use estimates of mileage or business use. Because of IRS preparer penalties we are unable to estimate or calculate mileage for you. While we do not require that you provide us with these detailed records, it is imperative that you have them. Please summarize your actual business vehicle use below: - Vehicle 3: already in your books, provide a summary of additional 2016 expenses (licenses, gas, oil, lease payments, insurance, registration fees, repairs, tires, etc.). - Vehicle 4: already in your books, provide a summary of additional 2016 expenses (licenses, gas, oil, lease payments, insurance, registration fees, repairs, tires, etc.). - Vehicle 5: already in your books, provide a summary of additional 2016 expenses (licenses, gas, oil, lease payments, insurance, registration fees, repairs, tires, etc.). You do not need to fill out this form if you do not have any rental properties or have less than 2 rental properties. Please return to the General Business Tax Information on page 3. Was there any personal use of any rental property in 2016? If so, provide the following information for each rental property that was used for personal use. -Rental Property 2: -Total number of personal use days (do not include repair days listed below) -Total number of repair days (any day you spent working substantially full time repairing and maintaining the rental property) -Total number of days rented -Total number of days available for rent, but not rented or used personally or given away -Rental Property 3: -Total number of personal use days (do not include repair days listed below) -Total number of repair days (any day you spent working substantially full time repairing and maintaining the rental property) -Total number of days rented -Total number of days available for rent, but not rented or used personally or given away

2016 Self-Employment Questionnaire

2016 Self-Employment Questionnaire Thank you for completing this questionnaire completely and accurately. This is a very important step in analyzing your tax position for the year. By doing so, you provide