No “Simple” Business Tax Preparation Form
Each Business Structure has its own separate and distinct regulations when it comes to Business Tax Preparation. Most Business Structures affect your personal taxes as well. By knowing you and your goals we can assure the most effective Income Tax Planning.
Each Business Tax Preparation has different needs depending on if:
- You are a Sole Proprietorship, S Corporation, C Corporation, Limited Liability Corporation (LLC), or Partnership
- You have started your business in the current year
- Sold part or all of your business
- Are considering selling your business in the near future
- Have added partners or shareholders , or they have left your company
- You need guidance on “reasonable compensation” for shareholders
- Knowing you are taking advantage of all the deductions you are entitled to
- Is it time to change the Business Structure of your company to minimize taxes?
- Federal and state Payroll withholding and taxes , as well as appropriate tax deposits to avoid penalties
- Sales tax and use tax issues
- Worker’s compensation issues
- Local sales taxes
- Union reporting
- Retirement plan contributions and deductions
We understand these areas and will guide you through the maze of regulations and constant updating of these laws. Minimizing these taxes is a goal of every business. For example, are you aware of tax credits that are available for hiring employees?
Let us be your trusted business advisor with these issues. Contact us today!
Individual Income Tax Preparation
The most common comment we have during an individual’s Income Tax Preparation is “my tax return is pretty simple”. Nothing could be further from the truth! The “simple” tax return is rare with the United States’ complex tax code. Do you know that in 2009 alone there were over 300 tax law changes?
During our individual Income Tax Preparation process, our central Illinois accounting firm:
- If you are a new client, we review your last 2-3 years tax returns to check for accuracy. During these Income Tax Preparation reviews, we’ve found a high number of mistakes on previously filed returns, especially on self-prepared returns.
- No matter if you owe money on your return or have a large refund, we will help you adjust your withholding tax to eliminate problems.
- Tax Returns are carefully reviewed to ensure you take all the deductions you are entitled to.
- As part of our Income Tax Preparation process, we electronically file your tax return.
- We prepare most state income tax returns.
- Do you live out of state? That’s Not a problem! Contact us today to discuss how we can help you with your out-of-state individual Income Tax Preparation!