Tax season doesn’t have to be overwhelming. With a little planning, U.S. small business owners—especially sole proprietors and single-member LLCs—can reduce last-minute stress, avoid common filing issues, and put themselves in a stronger position to file accurately and on time.
This checklist walks you through the key documents and prep steps you’ll need before filing, including where to find tax forms in HoneyBook, what to gather from other platforms, and how to stay organized moving forward.
Tax season prep checklist
Step 1: Confirm your tax and business information
Make sure you have:
Your Social Security number (SSN) or Employer Identification Number (EIN)
Legal business name and address, as registered with the IRS
Step 2: Gather income and tax reporting forms
Collect all forms related to income you earned or reported during the year:
1099 forms you received, for example, from banks or platforms
1099 forms you issued to contractors
1099-K awareness: If you use payment platforms like HoneyBook, Stripe, or PayPal, be aware of applicable reporting thresholds. Reporting requirements vary based on IRS and state-level income thresholds. Learn more about current federal and state reporting requirements.
Find your HoneyBook tax forms:
From the navigation menu, select Finance > Tax Hub. For more information, see Understand your HoneyBook 1099 tax forms.
Need a paper copy? Email [email protected] to request one.
Step 3: Compile your income and expense records
Prepare documentation that summarizes your business finances:
Profit and loss (P&L) report from accounting software – or a detailed spreadsheet of income and expenses
Receipts for deductible expenses
Home office expense records, if applicable
Proof of quarterly estimated tax payments
Review common tax deductions for U.S. small business owners to ensure you’re maximizing savings.
Step 4: Collect documents for personal deductions or credits
If applicable, gather:
1099 forms issued to you personally
1098 forms (mortgage interest, student loan interest)
1095 forms (health coverage)
Documentation for education credits or child tax credits
Step 5: Plan ahead for next year
If business and personal finances were mixed this year, consider opening a dedicated business bank account to simplify future tax prep. You may be eligible for HoneyBook Balance—learn more to see if it’s right for you.
Final thoughts
Preparing early makes tax season smoother and less stressful. By gathering documents ahead of time, reviewing deductions, and keeping your records organized, you’ll be better equipped to file accurately—and potentially save money. If you’re unsure about anything, a qualified tax professional can help you navigate next steps with confidence.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!
HoneyBook Tax Hub is designed to provide information relevant for tax preparation but does not provide tax, financial, or legal advice. It is not a substitute for a licensed professional. Users are solely responsible for the accuracy and compliance of their filings. We recommend confirming any information given here by seeking the assistance of a licensed professional in your area. We do not guarantee completeness, real-time updates, or assume liability for errors, omissions, or penalties.