Affordable Business Tax
Get your business tax return prepared with an Accountant and Tax specialists Starting $850.
We offer comprehensive business tax return services to ensure accurate and efficient filing.
Business Tax Return
Filing business tax returns usually entails a distinct set of documents in contrast to personal tax returns. The specific documents required can depend on the structure of your business, such as whether it is a sole proprietorship, partnership, or corporation, as well as the nature of your business activities. In general, here is a list of documents that you might need for this purpose.
Income Statements: These include documents such as profit and loss statements (P&L), also known as income statements, which detail your business's revenues, expenses, and net income (or loss) over a specific period.
Balance Sheets: Balance sheets provide a snapshot of your business's financial position at a specific point in time, showing assets, liabilities, and equity.
Employer Identification Number (EIN): Your business's EIN is necessary for tax reporting purposes and may be required on various tax forms.
Business Entity Information: Documentation related to your business entity, such as articles of incorporation (for corporations), partnership agreements (for partnerships), or operating agreements (for LLCs).
Financial Statements: Depending on your business structure and size, you may need to provide financial statements prepared in accordance with generally accepted accounting principles (GAAP), such as compiled, reviewed, or audited financial statements.
Tax Forms: Different business entities have different tax forms to file. For example:
Sole Proprietorship: Schedule C (Form 1040)
Partnership: Form 1065, Schedule K-1
Corporation: Form 1120, 1120-S, or 1120-C
Limited Liability Company (LLC): Depending on how the LLC is taxed, it may file as a sole proprietorship, partnership, S corporation, or C corporation.
Employment Tax Forms: If you have employees, you'll need to file various employment tax forms, including Form 941 (Employer's Quarterly Federal Tax Return), Form 940 (Employer's Annual Federal Unemployment Tax Return), and Forms W-2 for employees.
Sales and Use Tax Records: If your business sells goods or services subject to sales tax, you'll need to maintain records of sales tax collected and any tax exemptions claimed.
Expense Records: Documentation of deductible business expenses, such as receipts, invoices, and records of business-related purchases, travel expenses, utilities, rent, and supplies.
Depreciation Schedules: If your business owns depreciable assets, such as equipment or property, you'll need records of depreciation expenses and schedules.
Records of Estimated Tax Payments: If your business makes estimated tax payments throughout the year, you'll need records of these payments.
Previous Year’s Business Tax Return: Having your previous year's business tax return can be helpful for reference and ensuring consistency in reporting.
Other Documentation: Depending on your business activities and specific tax situations, you may need additional documentation, such as records of business losses, capital gains or losses, foreign income, tax credits, and deductions.
About Us
We are a team of accounting and CPA specialists dedicated to providing quality tax services.
Happy Clients
Great service! They helped me maximize my business tax deductions.
Highly recommended! They made the tax filing process hassle-free.