Business Tax Preparation Services Built for Confidence

There's no single number. It comes down to your profit (not your revenue), your entity type, how owners are paid, which expenses are deductible, and the states you operate in. A C corporation pays federal income tax at a flat 21% on its taxable income. Profits from an LLC, partnership or S corporation usually pass through to the owners' personal returns instead. Clean books are the starting point for any honest estimate.

Take total business income, subtract ordinary and necessary business expenses, and you have net profit. Then the entity rules take over. A sole proprietor pays income tax plus self employment tax on that profit. An S corporation owner pays tax on wages through payroll and on the remaining profit on their personal return. A C corporation pays at the corporate level, and owners pay again on dividends. Timing and depreciation choices can move the number significantly.

Nothing is automatically taken out of business income the way payroll withholding works for employees. Instead, owners of pass through businesses typically pay through quarterly estimates, and corporations make their own estimated payments. How much depends on profit, entity structure, owner pay, credits, and federal and state rules. A midyear projection is the easiest way to avoid a surprise in April.

A year end profit and loss and balance sheet, bank and credit card statements, last year's return, payroll reports (including Forms 941 and W-2s), a list of equipment or vehicles bought or sold, loan statements, and records of owner draws or distributions. If you paid contractors, we need their W-9s to prepare 1099-NEC forms. Foreign accounts, overseas entities or income from abroad bring their own reporting requirements, so include those records too.

As soon as the books are closed and reconciled, ideally in January or February. Partnership and S corporation returns are due March 15 for calendar year businesses, a month earlier than most people expect, and owners need those K-1s to file their own returns. Starting early also leaves time to fix records and make a thoughtful decision about an extension if one is needed.

Yes. We figure out which years and which returns are missing (income tax, payroll, information returns), rebuild records where they're thin, and prepare everything accurately. Late business returns can trigger penalties per owner per month for partnerships and S corporations, so it's worth acting. If the filings show a balance, the founder, an IRS Enrolled Agent, handles the tax resolution work directly.

Usually, yes, if you expect to owe at least $1,000 when you file and the tax isn't covered by withholding. Payments are due April 15, June 15, September 15 and January 15. Paying 100% of last year's tax (110% at higher incomes) generally protects you from underpayment penalties. We set estimates from actual results so cash isn't tied up unnecessarily.

Yes. Our founder is an IRS Enrolled Agent, licensed by Treasury to represent businesses and individuals before the IRS on any federal tax matter. That covers notices, audits, appeals, payroll tax problems and payment arrangements. For companies that want more than tax help, we also provide fractional CFO services and, for government contractors, GovCon accounting.