P1/P2 Document Checklist | Eiduk Tax & Wealth

Client Information

Client Name

Entity Name

Tax Year

Review Date

Documentation Progress

0 / 0 Items

Phase 1: Foundation

Strategies #1-7 ▼

Reasonable Compensation

IRC §3121(a), Rev. Rul. 74-44

0/4

Reasonable Compensation Study Third-party analysis or internal calculation with BLS/industry data

Job Description Documented duties, responsibilities, and time allocation

Comparable Salary Data BLS, industry surveys, or RCReports output

Board Resolution Minutes approving officer compensation for tax year

S-Corp Health Insurance

IRC §162(l)

0/3

Insurance Policy Documents Policy in shareholder's name or S-Corp's name

Premium Payment Records Proof of S-Corp payment or reimbursement

W-2 Box 1 Inclusion Verify premiums in Box 1, NOT in Box 3/5

Accountable Plan

IRC §62(a)(2)(A), Reg. 1.62-2

0/4

Written Accountable Plan Policy Board-adopted policy meeting 3-part test

Expense Report Template Standardized form for substantiation

60-Day Substantiation Log Tracking that expenses submitted within 60 days

Receipts and Supporting Docs Receipts for all reimbursed expenses

Augusta Rule (14-Day Rental)

IRC §280A(g)

0/5

Rental Agreement Written lease between S-Corp and shareholder

FMV Rate Documentation Comparable rentals (Airbnb, VRBO, hotel meeting rooms)

Meeting Agendas Agenda for each business meeting held

Meeting Minutes Minutes documenting business purpose and attendees

Day Count Log Tracking ≤14 days per calendar year

Asset Reimbursement

IRC §162, §274

0/3

Personal Asset Inventory List of personally-owned assets used in business

FMV / Depreciation Calculation Value determination for each asset

Business Use Percentage Documentation of business vs personal use

Hiring Kids (Family Employment)

IRC §73, §1(g), §3121(b)(3)(A)

0/5

Job Description Age-appropriate duties and responsibilities

Timesheets Contemporaneous hours tracking

Reasonable Wage Documentation Comparable wages for similar work in area

W-2 / W-4 Forms Proper payroll processing

Work Product Samples Examples of work performed (photos, files, etc.)

Cryptocurrency Tax Strategies

IRC §1001, §170, Notice 2014-21

0/4

Cost Basis Tracking Records Acquisition date, cost, and amount for each crypto lot

Exchange Transaction History Exports from Coinbase, Kraken, etc. for all transactions

Crypto Tax Software Report CoinTracker, Koinly, or similar Form 8949 generation

Loss Harvesting Documentation Records of losses realized for tax optimization

Phase 2: Core Deductions

Strategies #8-17 ▼

Depreciation Optimization (§179 & Bonus)

IRC §179, §168(k)

0/4

Asset Purchase Records Invoices, receipts, financing documents

Placed in Service Documentation Date asset was ready and available for use

MACRS Class Life Determination Verify recovery period for bonus eligibility

Form 4562 Depreciation form with §179 election and bonus calculations

Home Office Deduction

IRC §280A(c)

0/4

Floor Plan / Measurements Square footage of office and total home

Photos of Office Space Evidence of regular and exclusive business use

Expense Records (Actual Method) Mortgage/rent, utilities, insurance, repairs

Method Election Simplified ($5/sq ft) vs Actual method choice

Vehicle Strategy

IRC §162, §274

0/4

Mileage Log Contemporaneous log: date, destination, purpose, miles

Business Use Percentage Annual calculation of business vs personal

Actual Expense Records (if elected) Gas, insurance, repairs, depreciation

Method Election Standard mileage (70¢) vs Actual expenses

Heavy Vehicle Deduction

IRC §179

0/4

GVWR Documentation Manufacturer's label showing >6,000 lbs gross weight

Purchase Documentation Invoice, financing agreement, title

Business Use Log Contemporaneous log proving >50% business use

Form 4562 Sec 179 election (max $30,500 for SUVs 6,000-14,000 lbs)

QBI Deduction Optimization

IRC §199A

0/4

QBI Calculation Workpaper 20% deduction with threshold analysis

W-2 Wage Limit Analysis 50% W-2 or 25% W-2 + 2.5% UBIA calculation

SSTB Analysis Specified Service Trade determination

Form 8995 / 8995-A QBI deduction form and aggregation elections

Business Travel & Entertainment

IRC §162(a)(2), §274(n)

0/4

Travel Expense Records Receipts for lodging, airfare, transportation

Meal Expense Documentation Receipts with business purpose and attendees noted

Business Purpose Log Client/prospect names, business topics discussed

Per Diem / Expense Reports Completed expense reports if using accountable plan

Section 105 Medical Reimbursement

IRC §105, §106, §213(d)

0/5

Written Section 105 Plan Document Adopted plan defining eligible expenses and limits

Medical Expense Substantiation Receipts, EOBs for all reimbursed expenses

Spouse Employment Documentation If using spouse strategy: job description, W-2

Non-Discrimination Test §105(h) compliance for self-insured plans

Reimbursement Log Track all reimbursements by date and amount

Timing Strategies

IRC §461, §451

0/3

Year-End Planning Memo Documented acceleration/deferral decisions

Prepaid Expense Documentation 12-month rule compliance for prepayments

Income Deferral Records Invoice dates, payment timing documentation

Family Employment Company

IRC §162, §482

0/5

Family Entity Formation Docs Operating agreement, articles for family LLC/S-Corp

Management Services Agreement Written contract between entities with scope and fees

Arm's-Length Pricing Study Comparable third-party rates documentation

Service Invoices Monthly/quarterly invoices for management fees

Family Entity Tax Return Form 1065 or 1120-S with K-1s to family members

Crypto Mining & DeFi

IRC §162, §168, Notice 2014-21

0/5

Mining Equipment Records Purchase invoices for rigs, GPUs, ASICs

Electricity & Operating Expenses Utility bills, hosting fees, pool fees

Mining Rewards Log Timestamp and FMV for each mining reward received

DeFi / Staking Records Staking rewards, yield farming, LP transactions

Trade or Business Documentation Profit motive evidence (not hobby)