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RUGGIERO,
MARTINEZ & NORTON, P.A.
1640 Lee Road,
Winter Park, FL 32789
(407) 740-5077
January 16, 2008
PLEASE
NOTE IMPORTANT CHANGES THIS YEAR
Dear Client:
As we prepare for
our upcoming “tax season,” we are providing you with a list of preliminary
information we will need in order to prepare your annual income tax
returns. Please try to return the requested information as “complete” as
possible to minimize follow-up requests which will help increase timeliness
and efficiencies.
Please note that
to comply with insurance and industry directives, we are now required to
maintain engagement letters for all of our tax and accounting engagements.
As such, we will not be able to issue your completed return without a signed
copy of the engagement letter. The following is enclosed:
·
Engagement Letter – Please sign and return to our office.
·
Business Entity Tax Questionnaire – Please answer all questions, sign, date
and return to our office.
·
Year-End
Tax Information Request – Please use this as a guide to gather your
information, respond to all questions, attach the required supporting
documentation requested and return to our office.
·
Employee
Representation Regarding Use of Company Vehicle – A separate Employee
Representation Form should be completed for each vehicle owned by the entity
at any time during the year (unless all personal use, including commuting,
is prohibited by the entity) Please fill-in the form with all the
requested information, sign, date and return to our office.
·
Tangible Personal Property Tax Return Acquired/Sold/Junked Form and fixed
asset schedule (if applicable). Please complete and return to our office by
2/1/08.
·
Engagement
Letter – Copy for your records.
Please keep in
mind that the checklist may not be all-inclusive for your entity. Each
entity is unique, and therefore we will probably have additional questions
specific to your particular business and circumstances.
We look forward
to serving you this upcoming season, and receiving your information as soon
as possible. Please note that all colored copies should be completed and
returned to our office. White copies should be retained for your records.
Please note,
generally the early filing of your business returns affects the timeliness
of your personal return. Accordingly, to avoid filing extensions on your
personal return, please remit the above information to our office by
February 15, 2008.
Please call if you have any questions.
Very truly yours,
RUGGIERO, MARTINEZ
& NORTON, P.A.
RUGGIERO,
MARTINEZ & NORTON, P.A.
2007 CORPORATION
TAX QUESTIONNAIRE (1120/1120S)
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YES |
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N/A |
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1 |
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Has the address on the prior year return changed? If so, furnish new
address.
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2 |
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Has the corporation been notified of any changes to previous returns by
any taxing authority? If yes, provide copies of all correspondence.
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3 |
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Describe the principal business activity of the corporation: |
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______________________________________________
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Circle method of accounting for tax purposes (Initial year only):
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Cash Accrual Other (Describe)
________________
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5 |
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Does the corporation engage in more than one trade or business activity?
If yes, provide details of each activity.
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6 |
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Did the corporation purchase or sell a business or business segment
during this year? If yes, provide a copy of contract or agreement.
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7 |
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Did the corporation engage in any new activities during the year? If
yes, describe new business on an attached sheet
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8 |
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Did the corporation discontinue operations this year? If yes, provide
details.
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9 |
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Does the corporation have a retirement plan? If so please indicate what
type of plan.
___________________________________________
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10 |
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Did the corporation include taxable fringe/welfare benefits such as
health insurance, group-term life insurance, educational assistance,
non-accountable expense allowances and personal use of corporate
vehicles in compensation on employees’ Forms W-2 and, if applicable,
subject such amounts to payroll taxes?
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11 |
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Did this corporation own a disregarded entity at any time during the
year? If yes, provide details.
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12 |
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Did the corporation at any time during the year have an interest in a
foreign bank account? If yes, provide details.
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Did the corporation receive tax-exempt interest or income? If so, how
much?
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14 |
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Does the corporation do business in more than one state? If yes, list
the states that the corporation did business in during this year:
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___________________________________________________________________
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15 |
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Provide copies of supporting schedules reflecting property, rents,
payroll, and sales by state.
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Were there any sales or exchanges during the year between the
corporation and a shareholder or other related party? If yes, provide a
detailed schedule.
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17 |
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Did the corporation have any foreign sales? If yes, provide sales by
country and amount.
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18 |
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Do you have written acknowledgment from all charities to which
individual donations of $250 or more were made during the year? (You
must have receipts or bank records for all cash contributions.)
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Did the corporation make a charitable contribution of inventory or
property? If yes, provide details. Provide appraisal if the value
exceeds $5,000.
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Did the corporation make political contributions during this tax year?
If yes, enter amount $_________.
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19 |
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Did the corporation pay penalties/fines during the tax year? If yes,
list amount(s) and indicate the reason for the penalty/fine. |
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20 |
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Are computers or cellular phones or other listed property used by
employees for personal purposes? If “yes, complete the following:
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Description |
Date Placed
in Service |
Business
Use % |
Cost or
Basis |
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Does the corporation have evidence to support the business use claimed?
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If yes, is evidence written?
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Did the corporation pay any club dues? If yes, provide details. To
which account were these items posted?
______________________________________________
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22 |
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Will all compensation-related accruals (including vacation pay) be paid
within 2½ months of year-end? If no, provide details of unpaid amounts.
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23 |
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Are there any unpaid expenses to shareholder(s) at year-end? If “yes,
provide detail.
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Policy for vehicles:
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24 |
1) |
Does the corporation maintain a written policy that prohibits all
personal use of vehicles, including commuting, by employees?
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2) |
Does the corporation maintain a written policy that prohibits personal
use of vehicles, excluding commuting, by employees?
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3) |
Does the corporation treat all use of vehicles by employees as personal
use?
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4) |
Does the corporation provide more than five vehicles to employees and
retain the information received from employees concerning the use of
vehicles?
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5) |
Does the corporation require or maintain copies of vehicle logs?
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6) |
Does the corporation have evidence to support the claimed business use?
If yes, is the evidence written?
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