Small Business Tax Preparation Service
Sole Proprietors (Self Employed)
The owner and the business are legally the same. All business income, expenses, assets, and liabilities are assumed by the owner. Make the best of your business losses and minimize your tax liability.
General Partnerships (1065)
Like Sole Proprietors, the business and its owners are treated the same. These partnerships will divide their share of assets and liabilities according to their percentage owned. Partnerships can be great for tax purposes when done correctly.
Limited Liability Companies (LLC)
The business and its owners are legally separate. LLCs are treated like partnerships for tax purposes and are “pass-through” entities which means no tax on the LLC”s income.
S Corporations (1120S)
A separate legal entity from its business owners. S corps, like LLCs, are pass-through entities so they are not subject to double taxation like C Corporations are. This allows for great tax flexibility.
C Corporations (1120)
Corporations pay taxes on their income and then a second tax is paid on owner’s dividends. C Corps are great for developing business who offer shares to their investors.
Non-Profit Entities (990)
Nonprofits are not subject to pay any federal taxes when they turn over all income to individuals or organizations who are lawfully recognized as charitable. Nonprofits must file taxes to stay compliant.