Business Tax Frequently Asked Questions

1. How much does business tax preparation cost?

Business tax return fees start at:

• S Corporation (Form 1120-S): Starting at $800

• Partnership (Form 1065): Starting at $950

• C Corporation (Form 1120): Starting at $850

• Fiduciary Return (Form 1041): Starting at $650

• Nonprofit Return (Form 990): Starting at $650

The final fee depends on the complexity of the return, the condition of the accounting records, the number of states involved, and any additional tax reporting requirements.

We'll discuss your business and provide an estimate whenever possible before work begins.

2. Do my bookkeeping records need to be complete before you prepare my tax return?

Accurate bookkeeping is essential for an accurate tax return.

If your books are complete and reconciled, we can typically move directly into tax preparation. If they're incomplete or inaccurate, bookkeeping cleanup or adjusting entries may be needed before the return can be prepared.

Preparing a return from incomplete records can lead to errors, missed deductions, or IRS issues, so we prioritize accuracy over speed.

3. What documents do you need to prepare my business tax return?

The documents needed vary by entity type, but most businesses should provide:

• Prior year's business tax return (new clients)

• Year-end Profit & Loss Statement

• Year-end Balance Sheet

• General Ledger

• Bank and credit card statements (if needed)

• Payroll reports

• Fixed asset purchases

• Loan information

• Ownership information

• Any IRS or state tax notices received during the year

Additional documentation may be requested depending on your business activities.

4. Can you prepare taxes if I use QuickBooks?

Yes.

We work with many businesses that use QuickBooks Online and QuickBooks Desktop.

Before preparing your return, we'll review your accounting records for completeness and accuracy. If adjustments are needed, we'll discuss them with you before finalizing your tax return.

5. My books are a mess. Can you still help?

Absolutely.

Many clients come to us with bookkeeping that needs cleanup before taxes can be completed.

Depending on the condition of the records, we may recommend a bookkeeping reconstruction or cleanup project before preparing the tax return. Our goal is to ensure your financial records are accurate so your tax return is based on reliable information.

6. Can you prepare prior-year business tax returns?

Yes.

Whether you're behind one year or several years, we can help determine which returns need to be filed and develop a plan to bring your business into compliance.

Each situation is different, so we'll review your circumstances before recommending the next steps.

7. Can you help if my business receives an IRS notice?

Yes.

Receiving an IRS notice doesn't necessarily mean you've done anything wrong. Many notices simply request additional information or explain a change to your tax account.

We'll review the notice, explain what it means in plain language, determine whether a response is needed, and help you resolve the issue.

8. Do you provide tax planning for businesses?

Yes.

Tax planning is one of the most valuable services we provide.

Rather than waiting until tax season, tax planning allows business owners to evaluate strategies throughout the year that may reduce future tax liability, improve cash flow, and avoid unexpected tax bills.

Business owners often benefit from meeting before year-end to review their financial results and discuss available planning opportunities.

9. What types of businesses do you work with?

We work with a wide variety of businesses, including:

• Sole Proprietorships

• Single-Member LLCs

• Multi-Member LLCs

• Partnerships

• S Corporations

• C Corporations

• Nonprofit organizations

If you're unsure which entity structure is right for your business, we can discuss the tax considerations of each entity type and coordinate with your attorney when legal formation questions arise.

10. Can you help if I'm starting a new business?

Yes.

Starting a business involves more than filing tax returns. We can assist with entity selection, tax registrations, accounting setup, bookkeeping guidance, payroll considerations, and ongoing tax compliance.

Beginning with a solid financial foundation often helps avoid costly mistakes later as your business grows.