Business Taxes
Completing your annual business Federal & State Income Tax Returns is no small project. In this day an age you can’t just plug in the numbers and hope for the best.
What is your time worth? Are you doing this tax return correctly? Have you made all the entries to assets and liabilities that will affect your taxable income? Have all entries been reported properly? Are you sure all parties have the correct “Basis” in the company? Will your bank take a look at this tax return and extend you credit?
Business taxes are complex and time consuming and not many individuals attempt to do these on their own. PCA would never suggest that you not seek professional advice when completing a Form 1120, 1120S, 1065, 990 or any other business income tax return.We are ready to assist you in having these Federal and State Tax returns completed. We have the experience and expertise to take this responsibility off your hands. We can handle almost every type of Corporate, Partnership, and LLC and Not for Profit tax return.
Timely filing of these returns is sometimes a serious problem. The cause for late filing and extensions is mostly inadequate record keeping. The IRS extension rules have changed in the past two years. Make sure you file the return or an extension on time. Penalties for late filing are stiff.
You are required to file a return or extension on or before the 15th day of the third month following the close of your tax year for Forms 1120, 1120S and 1065 tax returns.
A single owner LLC files with the personal income tax return on from 1040 Schedule “C”. This return is due the same date as the taxpayer. Generally due on April 15th of the year following the close of business December 31st.
Form 990, Not for Profit, tax returns are due in the 15th day of the 5th month following the close of the business year.One extension of time to file is allowed for all tax entities and the extension is good for 6 months from the original due date.
