These instructions are for clarification on the more complex parts of each section of the organizer. It is
organized in the same order as the organizer.
Section 1: Business Information
Name of Business: Provide the full legal name of your business that is registered with your state.
Business Address: This is the address you want IRS correspondence to be sent regarding your business.
Date Organized: The date your business was organized according to the state’s records.
Description of Business Activity: What major service or products do you offer?
EIN/Tax ID Number:This is the 9-digit number issued by the IRS to identify your business.
Entity Type: Put a check next to the type of entity you use for your business.
Number of Shares: This can be found on your Articles of Incorporation.
Section 2: Owner’s Information
It is very important to make sure this information is accurate. If you are filing an 1120S or a 1065 return,
each owner/partner needs to receive a K-1 from the business for their personal tax returns. This section
gives us the information needed to create K-1’s for all of the owners.
Primary Contact: If there is more than one owner, provide the contact information for the person who
will be handling the tax return.
Section 3: Income
If you have a computer generated Profit and Loss Statement and Balance Sheet then you can just
provide those documents instead of filling out this section.
Total Sales: This is total revenue/income for the current tax year.
Miscellaneous Income: This would be revenue/income that is received from activities that the business
is not involved with on a day-to-day basis. (i.e. interest income, refunds, etc.)
Cost of Goods Sold: This is how much you paid for the goods you sold. This also includes materials you
purchased to produce a product or products you purchased for resale.
Section 4: Deductions This is where you record your expenses or the money you have spent during the year. Add up your
expenses for each of these categories and put the total in the space provided. This is a fairly
comprehensive list of common deductions, but if you have deductions that are not on the list, write
them in the space provided.
Section 5: Home Office
Home Interest: Mortgage interest on your personal residence.
Home Insurance: Amount paid for insurance on your personal residence.
Home Taxes: Amount paid for property taxes on your personal residence.
Rent (only if not owned): Amount paid in rent if you do not own your home.
Repairs/Maintenance: Anything paid that directly repaired or maintained your home office can be
deducted 100%. (i.e. new carpet in your home office or paint for the walls) Other repairs done on your
home that indirectly related to the home office can be taken at a percentage. (i.e. roof repairs, furnace
or central air repairs)
Sq. Ft. of Office Area: The length X width of home office area.
Sq. Ft. of Home: The total home square footage.
Utilities: Amount paid for all utilities in the tax year for your personal residence.
Section 6: Equipment
This section is for equipment used by the business that you have purchased and/or sold that costs $500
or more and will last 3 years or more. If you put any furniture, decorations, or computer equipment etc.
in your home office, please provide the purchase price and purchase date.
Section 7: Concerns This is where you write any questions or concerns related to your business. Also, you might include any
investments that went bad for which you don’t think you will be able to recover any of the loss.
If you have any questions about the organizer, instructions, or anything related to the taxes please call