Business Tax Preparation
Business taxes should be an opportunity to save money and make your business more efficient — not a headache. When you work with Tax Time CPAs, you’ll save money and avoid headaches with our tax guidance.
Business owners like you know all too well how much time, effort, and energy goes into ensuring your business operates efficiently. Unfortunately, this leaves little time for financial planning, accounting, and tax preparation.
We offer efficient and effective tax preparation for businesses across Colorado. Manage your company’s financials correctly during tax season and year-round with help from our dedicated CPAs.
About
Business Tax Preparation Services
In the past, you might’ve used QuickBooks, TurboTax, and other methods to handle your business’ accounting and tax prep on your own. But now that your business is thriving, the benefits of having a trusted CPA handling your finances and accounting are undeniable and becoming more pronounced daily.
You need more than a one-size-fits-all software. You need customized, dedicated business tax services — the kind only an experienced CPA firm can provide.
Here are some of our most popular business tax prep services:
- Entity selection and structure with tax liability in mind
- State and federal payroll taxes
- Preparation and filing of federal income taxes
- Development and analysis of profit and loss statements
- Ensuring your business complies with local and state sales tax laws
- Mergers and acquisitions
- Reducing tax liability in general
Don’t put your business at risk over failure to adhere to business tax obligation deadlines. You could face adverse action and fines if you are found in non-compliance. With an experienced CPA handling your business’ accounting and taxes, you can reduce these risks and increase your company’s profitability.
CPA Services: Tax Preparation For Businesses Of All Sizes
Tax Time CPAs are prepared to help your business prepare for tax time, regardless of size. Our clients operate businesses of many kinds, including the following:
Sole proprietors. In a sole proprietorship, you are assuming all of your business expenses, assets, and liabilities. We can help you reduce your businesses losses and minimize potential tax liabilities.
Limited liability companies (LLCs). In forming an LLC, you have separated yourself from your business, but the tax obligations eat away at your profits nonetheless. We’ll find intelligent, strategic actions to ease the tax burden you face through your LLC.
General partnerships. We can help ensure your business’ liabilities and assets are divided correctly based on your percentage of business ownership, among many related services.
C corporations. When you’re operating a business that can be taxed separately from you, you always need keen financial eyes on your tax situation. That’s precisely what we’ll provide to you.
S corporations. When your business operates as a S corp, our firm can increase tax flexibility and help you avoid being taxed twice.
Nonprofits. As a nonprofit, you may not be required to pay federal income taxes, but we can ensure income is recognized as charitable where appropriate and ensure your nonprofit’s taxes remain compliant.
You have a business to run.
You don’t have time to waste on tax preparation and financial planning. Let your CPA handle your business’ tax prep. Here’s what you can expect from your financial planning session:
Meet our CPA to assess your business’ tax situation and implement strategies
Review your business’ documentation and tax forms, which you must send to your CPA. This includes your balance sheet, income statements, general ledgers, and other accounting records. Your business tax preparer can also prepare your business balance sheets, income statements, cash flow statements, and other financial records if need be.
We will analyze your bookkeeping and accounting records, seeking opportunities to reduce tax liability and increase profitability. After assessing your records, your accountant can finish preparing your business tax return.
Once your business tax return is ready for filing, you can review your tax records and sign all required forms. From there, your CPA can process and file your tax return with the IRS.
Why we are the best business tax preparation choice
Why You Should Form a Family LLC
Establishing a family LLC is not new, but it is gaining speed as high-income earners seek ways to protect their hard-earned assets and develop generational wealth. Baby boomers have the highest household net worth of any US generation before. Defined by the Federal...
Supreme Court Increases IRS Reach in Major Decision
Last month, the U.S. Supreme Court unanimously favored the IRS in the court ruling, Polselli v. Internal Revenue Service, permitting the agency to request the financial records of delinquent taxpayers without notification to third-party businesses. Many believe the...
Small Business Tax Liabilities Higher Than Expected?
Small business owners have received an unexpected shock this tax season, with many owing more than expected. As the nation emerges from Covid-19, some businesses have experienced higher revenues and, therefore, higher tax liabilities than in the past two years. Tax...