| Here’s THE LIST of important items – especially for PPP:
· 2019 IRS Quarterly 940, 941 or 944 payroll tax reports
· Monthly Payroll Reports for 2019
· Payroll report must show the following for the time period above:
· Gross wages for each employee (including the officer(s) if paid W-2 wages)
· Paid time off for each employee
· Vacation pay for each employee
· Family medical leave pay for each employee
· And state and local taxes assessed on the employee’s compensation for each employee
· 1099s for 2019 for independent contractors that would otherwise be an employee of your business. (Do NOT include 1099s for services)
· Documentation showing total of all health insurance premiums paid by the Company Owner under a group health plan. (Include all employees and the company owners)
· Document the sum of all retirement plan funding that was paid by the Company Owner. (Do not include funding that came from the employees out of their paycheck deferrals.) Include all employees, including company owners, 401K plans, Simple IRA, SEP IRAs
· Business entity documentation (e.g. Operating Agreement, Certificate of Organization, Bylaws, Articles of Incorporation)
· 2017, 2018 and 2019 Business Tax Returns if applicable and 2019 internal financial statements if 2019 tax return is not filed
· 2020 interim financial statements (balance sheet, income statement, accounts receivable aging and accounts payable aging)
· Debt schedule for operating business
· List of owners of the business if not included in tax return
· Copy of Driver’s License for signers of business. (This is likely for 20%+ owners) |
