Hi, I live in Maryland and am filling out my 2015 Personal Property Return for my LLC. I need some quick assistance with Form 1 and Form 4A. The instructions aren't very detailed. I have a simple web design business with a couple of computers, desk, and chair as property.
Question 1) First of all, I should be filling this out for 01/01/2014 through 12/31/2014, correct? Most tax forms for 2014 are labelled 2014, but these forms are labelled 2015. Since it due 4/15/2015 I would assume it must be for 2014. Am I correct?
Form 1 is the Personal Property Return. Here's a link -
Question 2) On Section II, 3. Supplies - Should I put the average cost of a single item or average total cost of all items per year?
4A is a Balance Sheet. Here's a link -
Question 3) For line 1. Cash, should I just enter the total balance of my business bank accounts on Jan 1 2014 and then the balance on 12/31/2014?
Question 4) All my property would fall under Line 9. Equipment. Should I enter the total original cost of all the property or only their total current depreciated value?