Business Taxes

Comprehensive Business Tax Preparation

Navigating business taxes can be complex, but our experienced tax professionals ensure accurate and timely filing for businesses of all types and sizes. We handle local, state, federal, and international tax filings, covering Sole Proprietorships, Partnerships, LLCs, S-Corporations, and Corporations.

With our expert tax preparation services, your business stays fully compliant and optimized for tax efficiency. Our dedicated accountants and tax specialists manage every detail, so you can focus on running your business with confidence.

Our Business Tax Services

We offer a full range of tax services tailored to your business needs, ensuring accuracy and compliance.

Sole Proprietorships

We prepare and file IRS Form 1040, Schedule C, ensuring business income is accurately reported on your personal tax return. Our tax professionals apply all available deductions and tax-saving strategies while meeting filing deadlines.

Partnerships

We handle IRS Form 1065 and issue Schedule K-1 to each partner, ensuring profits, losses, and deductions are properly reported. Our team helps partnerships optimize tax benefits while adhering to all filing requirements.

S-Corporations

Our experts prepare and file IRS Form 1120S, issue Schedule K-1 to shareholders, and ensure all income, losses, and distributions are correctly reported. We implement strategic tax planning to help S-Corps minimize tax burdens.

Limited Liability Companies (LLCs)

We assist with Schedule C for single-member LLCs and IRS Form 1065 for multi-member LLCs, ensuring accurate reporting of business profits and losses. Our team applies deductions and tax-saving strategies while ensuring full compliance.

With expert guidance and proactive tax planning, we help businesses stay ahead of tax obligations while maximizing financial efficiency.

Nonprofit Tax Returns

We help nonprofit organizations fulfill their tax obligations by preparing accurate and compliant tax returns, including Form 990, 990N, 990EZ and other necessary filings.

Tax Settlement

Ignoring unpaid taxes can lead to compounded penalties, accumulating interest, and increased scrutiny from tax authorities. Over time, the IRS may escalate collection efforts by imposing tax liens, wage garnishments, or even levies on your business assets. Acting quickly is crucial to prevent further financial strain and protect your business operations.

We work closely with you to explore available tax relief options, such as installment agreements, offers in compromise, and penalty abatement, to help you settle your debt in the most manageable way possible. With our expert guidance, you can navigate complex tax challenges with confidence and get your business back on track.

Tax Settlement Alternatives

The IRS offers several tax settlement options to help businesses resolve outstanding tax liabilities. Each option comes with its own benefits, limitations, and eligibility criteria. Our experienced tax professionals can guide you through the process and help you choose the best solution for your situation.

Pay the Full Balance

The most direct way to clear tax debt is to pay the full amount owed. If cash is not immediately available, businesses may use a line of credit, bank loan, or credit card to settle the balance and avoid additional penalties.

Short-Term Extension

If your business can pay the tax debt within 120 days, you may qualify for an IRS extension. While interest continues to accrue, no penalties or collection actions occur during the extension period.

Penalty Waiver

The IRS may eliminate or reduce penalties if you can prove that non-payment was due to circumstances beyond your control. This can significantly lower your total tax liability.

Installment Agreement

Businesses unable to pay in full may apply for an Installment Agreement, allowing them to spread payments over time. Approval is typically granted if the business owes less than $10,000 and is in good standing.

Partial Payment Settlement

Businesses unable to pay in full may qualify for a reduced settlement through an Offer in Compromise or Partial Payment Installment Agreement, subject to strict eligibility and documentation requirements.

FAQs

Why is Professional Tax Planning Important for Small Businesses?

Professional tax planning is crucial for small businesses to navigate complex tax codes, take advantage of available incentives, and ensure compliance. Our experts will work with you to develop a personalized tax strategy, considering your business structure, goals, and industry-specific regulations, ultimately maximizing your tax efficiency.

Can Businesses Benefit from Proactive Tax Planning Strategies?

Absolutely. Proactive tax planning allows businesses to stay ahead of changes, capitalize on opportunities, and navigate challenges effectively. Our team can develop and implement strategies that align with your business objectives.

Can Tax Planning Include Long-Term Strategies for Businesses?

Absolutely. Tax planning can include long-term strategies that align with your business goals. This may involve structuring transactions, considering succession planning, and optimizing tax implications for sustained financial success.

What Tax Implications Should Businesses Consider When Expanding?

Business expansion has tax implications, including changes in jurisdiction, tax incentives, and compliance requirements. Our tax planning services address these implications, ensuring a smooth expansion process.

What is the purpose of Form 990 for nonprofits?

Form 990 is an information return filed by nonprofits with the IRS. Its primary purpose is to provide transparency about the organization's finances, mission, and activities. Nonprofits are required to disclose details such as revenue, expenses, governance, and executive compensation. Our dedicated team specializes in assisting nonprofits with the accurate preparation and filing of Form 990, ensuring compliance with regulatory requirements.

Is there a simplified version for Form 990? How do I fill out Form 990 EZ?

Form 990 EZ is indeed a simplified version designed for eligible nonprofits. If your organization qualifies, we can assist you in accurately filling out Form 990 EZ. By leveraging our expertise, we'll navigate through the simplified requirements, ensuring a smooth and efficient filing process. Contact us, and we'll help you meet the reporting obligations with ease.

Can Businesses Seek Extensions for Tax Filing, if Needed?

Yes, businesses can seek extensions for tax filing if needed. Our team assists in filing extensions when necessary, providing businesses with additional time to ensure accurate and well-prepared tax returns.

How Can I Ensure Compliance with Changing Tax Laws?

Staying compliant with evolving tax laws requires constant vigilance. Our team stays abreast of changes in tax legislation and communicates updates to our clients. We'll also conduct regular reviews of your financial practices to ensure ongoing compliance with the latest regulations, minimizing the risk of penalties and fines.