Business Tax Solutions
Tax Planning for Business Owners
For business owners, navigating the complex maze of federal and California tax rules can be intimidating. We are committed to the financial success of our business clients through our tax preparation services. Our personalized approach means we take the time to understand your business’s accounting, operations, and tax needs or challenges. Our Tax preparers use a series of tax organizers, and other systems to assist business owners, sole-properitors, or contractors easily organize their business income, and identify important tax deductions.
Year-Round Tax Strategies
Our tax preparers are committed to being available to assist you throughout the entire year, not just during the traditional tax season. This means that whether you need urgent questions answered in the middle of your summer vacation or require guidance as you plan for the upcoming tax year, our team is ready to provide the support you need. By offering our services year-round, we help you stay ahead of any potential tax issues and capitalize on opportunities for tax savings. Our proactive approach ensures that you are always prepared, minimizing the risk of surprises and helping you to optimize your financial outcomes.
- End-of-Year Tax Planning for Business Owners
- Startegies to reduce Your Self-Employment Tax
- Retirement Plans & Tax Benefits for Small Business Owners (Solo 401(k), SEP IRA)
- Estimated Tax Payment
- Section 179 & Bonus Depreciation
- Business expansion goals
Tax Efficiency for Business Owners
It is essential to work with a tax preparer who understands your business structure, and tax straegies. Every business structure, including corporations, LLCs, partnerships, and sole proprietorships, has advantages and tax implications of its own. Our staff is skilled at handling these challenges to guarantee that your company is in compliance and in the best possible position to save taxes.
- Truck Drivers
- Single Member LLC
- RideShare; Uber/Lyft/Instacart
- Freelance Worker: Fiverr, Onlyfans
- Personal Fitness Trainers
- Mobile Detailing
- Social Media Influencers
- Independent Contractors
- Sole-Proprietors
- 1099 NEC
- 1099 K
- 1099 MISC
- W2 Statutory Employees
- Qualified Business Income
- Expenses
- Net Operating Loss
- Depreciating Assets; Section 179
Understanding Your Business Structure
It is essential to work with a tax preparer who understands your business structure. Every business structure, including corporations, LLCs, partnerships, and sole proprietorships, has advantages and tax ramifications of its own. Understanding your tax structure is vital to filing the correct tax forms on time.
We understand things happen throughout the year and your business might not be ready to file on time. Missing your tax deadline due date can result in penalties and additional expenses that can easily be avoided. Our clients benefit from using our services to file for extensions at no cost at all. Our staff is skilled at handling these challenges to guarantee that your company is in compliance and in the best possible position to save taxes.
Important Business Entity Filing Information & Tax Deadlines (Federal & California)
Business Type |
Forms Filed |
CA Form |
CA Fees |
Self-Employment Tax |
Pass-Through Income |
Deadline |
Extension Deadline |
|---|---|---|---|---|---|---|---|
Sole Proprietor | Schedule C | 540 & Schedule C | No minimum fee | Yes | Yes | April 15 | October 15 |
Single Member LLC (SMLLC) | Schedule C | 568 | $800 min. | Yes | Yes | April 15 | October 15 |
Partnership | Form 1065 + K-1s | 568 | $800 min. | Yes | Yes | March 15 | September 15 |
S Corporation | Form 1120S + K-1s | 100S | $800 + 1.5% | On Salary only | Yes | March 15 | September 15 |
C Corporation | Form 1120 | 100 | $800 + 8.84% Tax | No | No | April 15 | October 15 |
Additional Services and Benefits
Comprehensive Bookkeeping Services
As your business evolves, your bookkeeping needs will need to expand to adapt to support growth and mitigate risk. That is the reason having a clear understanding of your businesses profit and accounting daily is key to make important business decisions which can include hiring new team members, purchasing business equipment, investing in new inventory, and much more.
Proper record-keeping is essential for business owners, particularly when facing potential audits from the IRS. Our services ensures that your financial records are comprehensive and organized, reducing the stress and complexity of an audit situation. Our experts collaborate with you to develop strategies that align with your growth plans, helping you to take advantage of potential tax benefits and keeping your books up to date for compliance.
Audit Protection Plan
Flexible Tax Payment Plans
When financial difficulties arise, it can be challenging for businesses to pay their taxes in full by the deadline. Fortunately, both the IRS and the California Franchise Tax Board offer payment plans, also known as installment agreements, to alleviate this burden.
Installment agreements allow businesses to pay their tax debts over time, rather than in a single, large sum. These payment plans are designed to provide flexibility and ease the financial strain, helping you stay compliant with tax obligations without crippling your cash flow.
Setting Up a Payment Plan
Short-Term vs. Long-Term Plans:
- Short-Term Plans: Typically last up to 120 days and are ideal for businesses expecting to have funds available in the near future.
- Long-Term Plans: Extend beyond 120 days and are suited for those needing more time to settle their tax debts.
Reach out to us today to discuss your options and take the first step towards resolving your tax obligations with confidence and peace of mind. Additionally, for personal tax preparation click here.
