Business Taxpayers
Start-up
There are many expenses incurred when starting up a business, such as:
- Pre-opening advertising
- Travel
- Organizational expenses
- Survey fees
- Consulting fees
- Wages
Tax Prep. And More can assist your new business by keeping track of these expenses and ensuring that you receive a return on your investment through tax deductibles, and keep your spending cost effective through financial planning.
REVIEWING BUSINESS STRUCTURE CHOICES
To ensure that the proper necessities in running a business are met we offer a review of various forms from both a non-tax and tax perspective for the following business structures:
Corporation
Full bookkeeping and specific Corporation tax services including:
- Using a corporate tax rate schedule to calculate the federal income taxes due on its taxable income.
- Calculate reasonable amounts of compensation paid to shareholders employed by the company to deduct on tax forms.
- Help avoid double taxation by helping your business pay out corporate earnings in the form of tax-deductible compensations.
- Manage the tax and financial forms for the leasing of business property or equipment to your corporation.
S corporation
Full bookkeeping and customized S Corporation tax services including:
- Assistance in the allocation of income, losses, deductions, and credits to shareholders for inclusion on tax returns
Limited liability Company (LLC)
Full bookkeeping and customized Limited Liability Company (LLC) tax services, including:
- Review and preparation of individual owners business income taxes
- Allocate individual owners income and deductions
Partnership
Full bookkeeping and customized Partnership tax services, including:
- Allocation of gains or losses at entity level
- Filing of annual informational returns with IRS
- Calculate how business profits and losses will be divided among the partners
Sole proprietorship
Full bookkeeping and customized Sole Proprietorship tax services, including:
- Completion and reporting of Schedule C
- Assistance with the implementation of a “qualified joint venture”
- Assist with the minimization of self-employment taxes by assisting with the reporting of pertinent deductions