SMALL BUSINESS TAX DOCUMENTS CHECKLIST

Prepare your tax documents and get ready to file

The tax experts at Block Advisors will help you understand your small business taxes, starting with the small business tax preparation checklist for 2023.

Are you a team of one? You’ve come to the right place — you can also use this as a self-employed tax checklist.

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Small business certified

Our tax pros receive specialized training for business tax preparation.

Save up to 30% on services

You could save up to 30% when you work with us instead of a typical accountant or CPA.

100% accuracy guaranteed

Rest easy knowing your taxes, bookkeeping, and payroll will always be 100% accurate.

2 million+ businesses

We help more than 2 million businesses each year get every credit and deduction they deserve.

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Potential savings based on estimated self-employment tax savings of sole proprietor (Schedule C) users with over $40,000 in profit in 2023 by taking an S Corp election and filing in 2024, net of salary payments and payroll taxes. Election must generally be made by the due date of the return for the year prior to the year the S Corp election is to take place. Savings requires payment of a reasonable salary. Other requirements apply, and additional fees like tax preparation and payroll services are not included. Overall tax savings will vary based on your circumstances. All tax situations are different. Taxes are only one consideration in determining whether to form a business. You may want to seek the advice of an attorney to evaluate all of the relevant considerations. Block Advisors Business Formation Products and Services provide automated online tools that you can use to help meet your business formation needs and are not tailored to your particular situation. See our FAQs for more information.
See Terms and Conditions for details. H&R Block does not provide legal representation. Business tax audit support does not include reimbursement of any taxes, penalties, or interest imposed by tax authorities.
With our Tax Subscriptions, you may prepay the fee for tax preparation of your 2023 federal tax return(s) to be prepared in 2024. The Tax Subscription locks in that fee and includes additional products and/or services, such as Peace of Mind® (only available on federal 1040 returns) and/or Business Tax Audit Support related to the 2023 federal tax return(s) as well as estimated quarterly tax payment services. Tax Subscription pricing is independent of, and may be higher than, our standard pricing. Fees are non-refundable except within the first 30 days following your purchase. Cumulative monthly pay options are higher than corresponding pay in full options. Additional terms and conditions apply. Available at participating locations.
MyCorporation® is solely responsible for the services it provides to you, and you are responsible for setting up a separate account with MyCorporation and completing the incorporation documents. Block Advisors, a part of H&R Block, does not assist in preparing or filing incorporation documents. The choice of entity for a small business is an important decision, and financial calculations are only some of many factors to consider. The information on this site is not intended to be legal advice or specific to any situation. We recommend that you seek the advice of an attorney about the implications of entity selection. Neither MyCorporation nor Block Advisors provides legal advice.
We do not provide legal advice. The choice of entity for a small business is an important decision, and taxes and other financial considerations are only some of many factors to consider. The information on this site is not intended to be legal advice or specific to any situation. We recommend that you seek the advice of an attorney about the implications of entity selection.
Up to 30% savings reflects average savings based on national average fees for Federal Form 1040 plus Schedule C and one state filing in latest available 2020 survey conducted by the National Society of Accountants. All tax situations are different. Pricing will vary based on individual circumstances.
Comparison based on national average of accountant hourly fees in 2020 for “QuickBooks or bookkeeping advisory services” ($109) compared to our full-service bookkeeping hourly rate ($50). Data based on a 2020 survey conducted by the National Society of Accountants. Prices may vary.
If H&R Block makes an error in your bookkeeping that requires a reopening of your books for any month, we will correct the error for the month the error occurred at no additional charge. Limitations apply. See blockadvisors.com/guarantees for complete details.
Up to 50% savings reflects average savings based on national average fees for Federal Form 1065, 1120, and 1120S in latest available 2020 survey conducted by the National Society of Accountants. All tax situations are different. Pricing will vary based on individual circumstances.
Our Year-Round Tax Planning services cover the following income tax strategy and planning services that you may select for each of three one-on-one sessions: Business check-up, financial review, estimated quarterly tax payment review, expense tracking and recordkeeping education and advice, income tax filing readiness review, and income tax tips and education relating to accounting methods, cost of goods sold, tax deductions, withholdings, sales tax, and Form 1099. Additional terms and conditions apply. We are not attorneys or a law firm and we do not provide legal advice or legal services, nor do we provide financial advice or investment recommendations, as part of our Year-Round Tax Planning services. You should consult an attorney and/or your own financial and investment advisors where appropriate.
Block Advisors and H&R Block services and pricing are available virtually and at participating locations. Additional terms and conditions apply.

Your Block Advisor or H&R Block accountant may not be a licensed accountant.
See https://www.federalregister.gov/ for information on businesses impacted by CTA.
We are not a law firm or attorneys and our advice, products, and services are not a substitute for those of an attorney or law firm. This site provides general information that should not be construed as legal advice. You may want to consult with an attorney to confirm your BOI reporting obligations.
For assisted tax prep, if Block Advisors makes an error on your return, we will reimburse you for any resulting penalties and interest. For DIY tax prep, if Block Advisors online tax preparation software makes an error on your return, we will reimburse you for any resulting penalties and interest up to a maximum of $10,000. Limitations apply. See https://www.blockadvisors.com/guarantees/ for full details.
* Discount valid at participating Block Advisors or H&R Block U.S. offices for an original 2024 income tax return for new clients only, and may not be combined with any other offer or promotion. Coupon must be presented prior to the completion of initial tax office interview. A new client is an individual or business who did not use Block Advisors or H&R Block to prepare their income tax return within a year from the date of the 2024 income tax return preparation. Void if transferred and where prohibited. No cash value. OBTP#B13696-BR ©2024 HRB Tax Group, Inc.
You’ll receive up to a $20 reward for each new client you refer that purchases a 12-month bookkeeping service, for a maximum of $300. A new client is someone who did not utilize H&R Block or Block Advisors’ bookkeeping services within the past year. The reward will be delivered for each new client after they purchase a 12-month bookkeeping service with H&R Block or Block Advisors. Rewards will be provided on virtual cards and are only available to individuals who provide a valid email address.
Valid at participating U.S. offices for $150 off for full-service bookkeeping for new clients only. Valid 12-month engagement letter required. After the application of the discount in this offer, you will be charged monthly at the amount in the engagement letter. Discount may not be combined with any other offer or promotion. Void if transferred and where prohibited. Coupon must be presented prior to start of bookkeeping services. A new client is an individual who has not used H&R Block or Block Advisors for bookkeeping services. No cash value. H&R Block employees are excluded. Expires Dec. 31, 2024. ©2024 HRB Tax Group, Inc.
The decision to form a business entity is an important one that includes many considerations. You may want to seek the advice of an attorney to evaluate all of the relevant considerations. Block Advisors Business Formation Products and Services provide automated online tools that you can use to help meet your business formation needs but are not specifically tailored to you or any particular situation.
Example savings based on average estimated tax savings of sole proprietor (Schedule C) with $37,000 in profit in 2022 compared to a similar S Corp election paying a reasonable salary of $14,600. Savings are net of salary payments and payroll taxes. Additional fees like tax preparation and payroll services are not included. Individual tax savings will vary based on your circumstances. All tax situations are different.
Our small business tax professional certification is awarded by Block Advisors, a part of H&R Block, based upon successful completion of proprietary training. Our Block Advisors small business services are available at participating Block Advisors and H&R Block offices nationwide.
Example savings based on average estimated tax savings of sole proprietor (Schedule C) with $50,000 in profit in 2022 compared to a similar S Corp election paying a reasonable salary of $25,000. Savings are net of salary payments and payroll taxes. Additional fees like tax preparation and payroll services are not included. Individual tax savings will vary based on your circumstances. All tax situations are different.
Example savings based on average estimated tax savings of sole proprietor (Schedule C) with $80,000 in profit in 2022 compared to a similar S Corp election paying a reasonable salary of $30,000. Savings are net of salary payments and payroll taxes. Additional fees like tax preparation and payroll services are not included. Individual tax savings will vary based on your circumstances. All tax situations are different.
See this report for information on the 2024 Impact of Women-Owned Businesses.
See our Official Rules for more information.
** Valid for H&R Block Online at hrblock.com for an original 2024 personal federal income tax return for new clients only. Discount may not be combined with any other offer or promotion. H&R Block Online must be accessed from the included link, and discount will be applied automatically at checkout. A new client is an individual or business who did not use Block Advisors or H&R Block to prepare their income tax return within a year from the date of the 2024 income tax return preparation. Void if transferred and where prohibited. Exclusions may apply. No cash value. OBTP#B13696-BR ©2024 HRB Tax Group, Inc.
^ Discount may not be combined with any other offer or promotion. Block Advisors Business Formation must be accessed from the included link, and discount will be applied automatically at checkout. Void if transferred and where prohibited. Exclusions may apply. No cash value. HRB Tax Group, Inc.
This offer is made by Block Advisors by H&R Block and not by Mastercard. Mastercard makes no offer, and disclaims all warranties and liability in relation to Block Advisors by H&R Block offer.