An S corporation is a pass-through entity, meaning the corporation itself doesn't pay income tax. Instead, profits and losses pass through to shareholders, who report them on their individual tax returns.
Tax Preparation Business S-Corp
$950.00Price
Services Provided by Marco Tax Services
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Comprehensive Data Gathering:
- You'll need to provide detailed financial information about the S corporation, including income, expenses, deductions, and distributions to shareholders.
- Supporting documentation like bank statements, invoices, payroll records, and profit and loss statements will be required.
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S Corporation Tax Return Preparation:
- Marco Tax Services will prepare the S corporation's tax return (Form 1120S) and any necessary schedules.
- We calculate the corporation's income, deductions, and tax liability (though remember, S corporations typically don't owe federal income tax).
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K-1 Preparation:
- Each shareholder will receive a K-1 form, which reports their share of the corporation's income, losses, deductions, and credits.
- Marco Tax Services will prepare these K-1 forms for all shareholders.
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Tax Planning and Optimization:
- Optional service, we offer tax planning strategies to help minimize the overall tax burden for shareholders.
- This could involve considering deductions, credits, and other tax-saving opportunities.
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IRS Compliance:
- Ensuring that the S corporation's tax return complies with all federal and state tax laws.
- Addressing any potential tax issues or discrepancies.
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Payroll and Employment Taxes:
- We offer tax preparation services also offer payroll services, including calculating and remitting payroll taxes.
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Audit Support (Optional):
- We offer audit assistance if the corporation is selected for an IRS audit.
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