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