2024 Tax Prep Checklist (File in 2025): Hampton Roads Small Business Guide

2025 Tax Prep Checklist for Small Businesses (File in 2026)

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​Get ahead of tax season with a simple, owner‑friendly checklist. If you operate around Hampton, Virginia Beach, Norfolk, Chesapeake, or Newport News, this list will help you gather what your preparer needs to file a clean, accurate 2025 return in 2026.

What to Gather
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• Financials: Year‑end profit & loss, balance sheet, and bank/credit‑card statements
• 1099s/1098s/W‑2s: All forms received; copies of W‑2s you issued to employees
• Payroll: Annual payroll summary and final quarter reports
• Fixed Assets: Equipment purchases/sales; receipts and dates
• Mileage/Vehicle: Business miles (or actual expense log), insurance, registration
• Home Office (if applicable): Square footage and total home expenses
• Sales Tax: Filed returns and payment confirmations
• Loans/PPP/ERC: Year‑end balances and any IRS/state correspondence
• State/Local: Business license renewals, annual report confirmations

Bookkeeping Tune‑Up

Reconcile every bank/credit card account through 12/31/2024, categorize any “uncategorized” transactions, and attach receipts for major purchases. Clean books cut your tax‑prep bill and reduce audit risk.

Contractors & 1099s

If you paid a contractor $600+ in 2024, verify W‑9s and issue 1099‑NECs (most are due by Jan 31). We can run this for you if your list is ready.

Common Deductions Owners Miss

• Accountable plan reimbursements (S‑Corp owners)
• Cell phone and the internet used for business
• Software and subscriptions
• Professional fees (legal, tax, accounting)
• Charitable contributions (with proper documentation)

Want a done‑for‑you tax packet? We’ll gather documents, close your books, and prepare your 2024 return. Call (757) 971‑2219.

Mini‑FAQ

Q: Can you work with QuickBooks Online?
Yes—we can clean up, categorize, and reconcile your 2024 file.

Q: I’m missing receipts—what now?
We’ll help reconstruct and document as allowed, then set up a receipt workflow for 2025.

Q: Do I need to issue 1099s?
​If you paid non‑employee contractors $600+ by cash/check/ACH, most likely yes.