Medical practices preparation files

Separate practice collections, owner clinical work, administrative duties and related property arrangements.

Preparation resource. Record completion does not determine eligibility, deductions or tax savings. Ask your qualified tax professional to resolve the facts and applicable rules.

Start with the operating facts

A practice owner works clinically while also managing employed providers and a separate property company.

Map the service and property entities so payments and responsibilities can be reviewed together.

Collect billing-system summaries; provider compensation; equipment purchases; practice ownership; building lease. Match each document to the relevant entity, property and reporting period. Then choose the decision below that matches the question you need to resolve.

Owner compensation evidence

Organize the facts behind owner duties and payments.

Benefit reporting file

Prepare the records behind benefits paid for owners and staff.

Expense reimbursement file

Connect owner-paid spending to supporting business records.

Quarterly projection inputs

Prepare a current operating and household input file.

Entity election readiness

Document the operating facts before evaluating an election.

Retirement plan census

Build an accurate employee and compensation file for a plan discussion.

Intercompany reconciliation

Trace transactions between entities to agreements and counterpart entries.

Capital purchase review

Separate planned and completed purchases from the tax treatment decision.

Year-end close preparation

Identify unresolved financial records before relying on the year-end figures.

Contract and obligation review

Organize agreements that affect the operating and cash-flow picture.

Prior-year issue register

Build a year-by-year record of suspected omissions or inconsistent reporting.

Advisor transition handoff

Make the source records and work responsibilities explicit during a transition.

Source and review boundaries

Use the following primary guidance to frame the questions. The worksheet organizes facts; it does not replace analysis of the relevant year, ownership, elections or state treatment. Record the applicable period, confirm the source version and retain the preparer's written conclusions with the supporting documents.

recordkeeping (IRS)

Published 2026-10-09. Prepared by AE Tax Advisors as an educational record-collection resource.