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Income Tax Tips for Individuals 2004
Income Tax Tips for Small Businesses 2004
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Bookkeeping & Tax Solutions For Vancouver Island

Here's a helpful CHECK-LIST to get you ready for your tax professional:

  • Does my general ledger bank balance reconcile to the bank statement?
  • Are there any accounts receivables that are worthless and should be written off?
  • Is my balance in Allowance for Bad Debts a reasonable estimate of potential write-offs?
  • Is the company's inventory balance correctly stated?
  • Are there inventory items that cost more than their worth and should be written down to their market value?
  • Does the company still have all the fixed assets?
  • Is my depreciation correctly recorded for those fixed assets still in the company's possession?
  • Did I amortize goodwill and franchise fees?
  • Are there any prepaid items that need to be adjusted such as prepaid insurance?
  • Have all assets been reviewed for accuracy?
  • Have we recorded all of our payables?
  • Do the payroll tax liabilities coincide with our quarterly reports?
  • Do the balances in the notes payable accounts (loans) agree with what the banks say we owe?
  • Are there other debts that have not been included on the books?
  • Are there debts on the books that no longer exist because of forgiveness or oversight?