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The Ultimate, Must-Have Small Business Tax Deductions Checklist - Wagepoint

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In order to claim these deductions, you must either provide or be able to produce the following upon request: Receipts Invoices Mileage logs Lease agreements Insurance statements Expense reports Payroll reports Inventory reports Sales reports Balance sheets Cash flow statements # 2 — Document Each Deduction Properly A copy of last year's return. Proof of any previous amounts paid for this tax year. Any notices of assessment or communication from the CRA or IRS. # 3 — Give Your Accountant or Tax Professional If you are a sole proprietorship or partnership, meaning that your business taxes are filed with your personal taxes, your will also need to provide your personal tax information.

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