Intermediate
Schedule C review: expense reasonableness and substantiation
Reviews Schedule C data for reasonableness, flags high-risk deductions, and suggests substantiation needs. Useful for preparers and reviewers managing audit risk.
Review Schedule C information for {client_name} for {tax_year}.
Inputs:
- Business description and income: {business_description_income}
- Expense detail: {expense_detail}
- Prior year Schedule C (optional): {prior_year_schedule_c}
- Mileage/home office info (if applicable): {mileage_home_office}
- Large/one-time purchases: {large_purchases}
Output:
1) Reasonableness analysis (expense % of revenue, year-over-year changes).
2) High-risk deduction flags (meals, travel, auto, home office) and substantiation checklist.
3) Classification suggestions (repairs vs improvements, supplies vs assets).
4) Client questions needed before finalizing.
Avoid giving legal advice; focus on documentation and risk.Related Prompts
Tax
BeginnerCorporate tax return workplan and data request list
Creates a corporate tax return workplan and a targeted data request list tied to key schedules. Useful for tax seniors coordinating compliance and ensuring completeness.
GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
2
Tax
IntermediateBook-to-tax reconciliation (M-1/M-3 style) with JE suggestions
Builds a book-to-tax reconciliation and identifies permanent/temporary differences with documentation notes. Useful for tax provision and return preparation.
GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
2
Tax
IntermediateDepreciation book vs tax (MACRS/IFRS) schedule tie-out
Compares book depreciation to tax depreciation, identifies differences, and prepares supporting schedules. Useful for both compliance and provision teams.
GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
2