The Ultimate Bookkeeping Tax Day Checklist: Ensuring a Smooth Tax Filing Process

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Tax day – that annual milestone that businesses and individuals alike mark on their calendars – can be a source of both anticipation and anxiety. For businesses, proper bookkeeping is the foundation of a successful tax filing process. As the tax season approaches, having a comprehensive checklist can help ensure that your financial records are in order, minimizing stress and maximizing efficiency. In this article, we’ll walk you through a bookkeeping tax day checklist that covers everything you need for a smooth tax filing experience.

  1. Review Financial Statements: Start by reviewing your income statement, balance sheet, and cash flow statement. Ensure that all transactions are accurately categorized, and the numbers reconcile.
  2. Organize Documentation: Collect and organize all relevant financial documents, such as invoices, receipts, bank statements, and payroll records. Having these documents readily accessible will streamline the filing process.
  3. Check Expense Deductions: Review your expense categories and ensure that you have proper documentation for each deduction you plan to claim. This could include business-related travel expenses, office supplies, and professional fees.
  4. Verify Payroll Records: Double-check that your payroll records are accurate and up to date. Make sure employee wages, benefits, and taxes are properly recorded.
  5. Reconcile Bank and Credit Card Statements: Reconcile your bank and credit card statements to your bookkeeping records. Address any discrepancies and ensure that all transactions are accounted for.
  6. Check Sales Tax Filings: If applicable, review your sales tax records and ensure that you have accurately collected and remitted sales tax according to your jurisdiction’s requirements.
  7. Complete Depreciation and Amortization: If you have depreciable assets, ensure that you have accurately calculated and recorded depreciation expenses. This includes updating the value of assets and calculating the appropriate depreciation method.
  8. Verify Inventory Records: If your business involves inventory, verify that your inventory records are accurate. Ensure that the beginning and ending inventory values are correctly recorded.
  9. Prepare 1099 and 1096 Forms: If you’ve made payments to contractors or vendors, ensure that you’ve prepared and distributed the necessary 1099 forms. Additionally, complete the 1096 form summarizing these payments.
  10. Review Tax Deductions and Credits: Familiarize yourself with potential tax deductions and credits that apply to your business. Make sure you’re not missing out on any opportunities to reduce your tax liability.
  11. Consult Tax Professionals: If you’re uncertain about any aspects of your tax filing, consider consulting a tax professional. Their expertise can help you navigate complex tax codes and ensure accurate filings.
  12. E-File or Mail Tax Returns: Depending on your preference and the type of tax return, either electronically file your tax returns or prepare them for mailing before the deadline.


A well-organized bookkeeping tax day checklist can be your ticket to a successful tax filing experience. By reviewing financial statements, organizing documentation, verifying deductions, and collaborating with tax professionals, you’ll be well-prepared to tackle tax day with confidence. Remember, proper bookkeeping not only ensures compliance but also provides you with insights into your business’s financial health. As tax season approaches, embrace this checklist as your roadmap to a smooth and stress-free tax filing process. BMR Consulting can help make this an easier transition and have you prepared for your accountant.

Bonnie Rose

Bonnie Rose

With over 20 years of experience in the bookkeeping field, Bonnie brings a wealth of expertise and knowledge to her role as a bookkeeping and consulting professional.

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