MONTHLY ACCOUNTING & TAX ADVICE - January 2020

By MCA ACCOUNTING SOLUTIONS MYCANNABISACCOUNTANT.COM

If you do not currently have a monthly accounting system in place, the following items will be a good list to begin the process of having your 2019 corporate taxes prepared:

  • January 2019 through December 2019 bank statements from all business bank accounts

  • January 2019 through December 2019 bank statements from any personal bank accounts that may have been used for business expenses (travel expenses, meals, tolls)

  • January 2019 through December 2019 credit card statements

  • Payroll reports, including quarterly filing forms and copies of all W2s and 1099s issued

  • POS(Point-of-Sale) reports including monthly sales summaries and cost of - Receipts from large purchases such as computers, extraction and cultivation equipment, build-outs of facilities and major improvements/ renovations

  • Cash logs from the entire 2019 calendar year

  • Copies of all Sales Tax returns filed during the calendar year of 2019

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