Our staff has extensive experience in preparing business tax returns for any-size business.  We work with Partnerships, S-Corporations, C-Corporations, Estates, Trusts, sole-member LLCs (these can be sole-proprietorships or S-Corps for tax purposes), and multi-member LLCs (these are Partnerships for tax purposes).  We strive to provide a tax return that both provides a true reflection of the business activity for the year as well as a quality picture of the business’s health.  Just like with Individual / personal returns we look at what deductions and/or credits you might be eligible for.

Most tax preparation companies only prepare a Balance Sheet if required by IRS regulations; the problem with this is that your ownership/capital basis in the company can get lost throughout the years.  This becomes especially important when needing to value your business for borrowing purposes or to sell it.  From a tax standpoint, the IRS has been cracking down on shareholder basis with the creation of new tax Form 7203 to track this data … why?  If you don’t track, and report, your basis properly, you can end up paying tax on excess distributions from your company … or more than necessary capital gains tax on a sale; these are only two examples.

What we do for Businesses:

-1120, FL-1120 (C-Corporation).  These are not common since they come with the dreaded “double taxation” – if you don’t know what this means and/or you don’t know how your company is structured we need to talk

-1120-S (S-Corporations, PAs).  Electing S-Corporation tax treatment can be a valuable tax strategy when done properly … we have performed many reviews for clients who received advice from their friend, neighbor, or business associate … let us experts inform you as to whether this is the right way for you to go

-1065 (Partnerships and multi-member LLCs)

-1041 (Fiduciary returns for Estates / Trusts).  Some non “Grantor” trusts are required to file an annual tax return just like individuals; similarly, Estates, depending upon their income, may need to file

-990 (Tax-exempt / non-profit organizations).  There are 4 basic returns for tax-exempt entities – the 990-N, 990-EZ, and 990 are for most organizations and are based on revenue amounts; the 990-PF is for Private Foundations

-Gift tax filings.  With the generous current lifetime Gift Tax exclusion of $12 million this can be a powerful tax planning tool to pass company ownerships, for example, down to the next generation without triggering capital gains tax

We also assist with preparation and submission of Sales tax / Tangible Business Property tax returns