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Signing a Contract

Initial Document Checklist

  • Profit and Loss Statements for 3 preceding years

  • Pass thru income to owner – Seller’s Discretionary Income

  • K-1s for all principals

  • Tax Returns (Federal, State, Local) – Past Three Years -IRS Form 1120S

  • Tax Forms - Past Two Years - IRS Form 941, W3, W2, 1099

  • Payroll Reports - Employees Salary / Hourly Rates

  • Bank Statement - Past Three Years

  • Loans Payable/Accounts Payable - Credit card, LOC statements

  • Equipment list included in sales

  • Inventory

  • Intangible Assets – IP, Patents (applications), copyrights, trademarks, website

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