Business Tax Preparation

Better Your Business with Professional Tax Guidance

Navigating tax season can be challenging, especially for businesses still familiarizing themselves with the constantly changing rules and regulations that affect their tax obligations. Our team of highly qualified Certified Public Accountants is equipped with extensive knowledge of business tax laws and regulations. With our tailored approach, we will optimize your business tax strategy to maximize deductions, credits, and savings in order to ensure your business thrives financially.

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How Manay CPA Can Help You

State and Federal Income Tax Filing

State and Federal Income Tax Filing

Our tax professionals will help your business prepare and file both your state and federal income tax returns. Based on your business’s tax situation, we will help you gather all the necessary documents for your tax return.

Full Legal Compliance

The United States government has established several laws, regulations, and industry standards that all business owners must follow while conducting business activities. We will provide expert assistance in compliance, regulations, licensing, permits, and taxation — all personalized to your business’s needs.
Full Legal Compliance
Optimized Tax Efficiency

Optimized Tax Efficiency

We recognize that every business is unique. From startups to established enterprises, we've served a diverse range of businesses. Our CPAs develop customized tax strategies that align with your industry, size, and financial goals. This personalized approach maximizes your deductions and minimizes liabilities, delivering tangible financial benefits.

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To start working with us call at 404-900-1040!
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When should I start thinking about filing my business taxes?

The deadline for filing business tax returns depends on the type of business entity. For businesses structured as partnerships, including multi-member LLCs, and S-Corporations, the deadline for filing Form 1065 or 1120-S is generally March 15 for calendar-year businesses. On the other hand, C-Corporations should file Form 1120 by April 15 for calendar-year businesses, although exceptions could apply. We highly recommend preparing early instead of waiting until the deadline in order to prevent costly errors on your business tax return.

What information do I need to provide to a tax preparer?

During your initial consultation, we will conduct an in-depth analysis of your business’s financials and tax requirements. We will review your records, identify potential deductions and credits, and understand your unique needs. Based on our findings, we will determine all the necessary documents and information you need for your tax return. 

What questions should I ask a potential tax preparer?

Ask us anything you want! We offer year-round availability to provide you with a wide range of services tailored to your needs. From tax planning and bookkeeping to payroll management, our team is here to support you every step of the way.

Do I need to file separate state and federal taxes for my business?

Yes. Businesses operating in one or more states must file a federal tax return as well as a state tax return for each state in which the business operates. 

How can I track my business expenses for tax purposes?

When it comes time to prepare and file your tax return, you want your finances to be outlined and organized as clearly as possible. Our team offers customized bookkeeping solutions that align with your needs, ensuring accurate filings. 

How can I protect my business from an IRS audit?

Our CPAs are here to ensure your business operates truthfully, accurately, and on the right side of the law. Teaming up with a licensed tax professional is an investment in your business’s financial success.

Learn More

  1. What are the different types of business tax preparation services?

    Businesses must prepare and file taxes for income taxes, estimated tax payments, self-employment and/or direct employment taxes, and excise taxes. 

  2. What are the benefits of using a professional tax preparer?

    Hiring a professional tax preparer comes with several benefits. In an attempt to save the money you would pay to a professional, you may want to handle your taxes by yourself. However, even if you have a relatively simple return, the ever-changing IRS guidelines, confusing rules, specifications, and challenging jargon make room for numerous mistakes. A professional tax preparer can help you file your returns as efficiently as possible by keeping an eye on every single possible deduction or credit that can apply to your situation that even the most popular tax preparation software might miss. And a professional tax preparer understands the IRS inside and out and will be able to represent you and communicate with the IRS in the event of a letter or notice. 

  3. What are the risks of filing my own business taxes?

    Unfortunately, even the most diligent taxpayers can make mistakes when preparing their returns, and even a small mistake can lead to penalties or delays in receiving a refund. Rushing to file your taxes as early as possible without first obtaining all the required tax documents can lead to errors that may delay refunds and cause other issues. Self-filing can naturally lead to human error, including mathematical errors and other incorrect calculations, which if caught can even cause the IRS to take legal action. To avoid the possibility of making mistakes while filing, it is advised that taxpayers either utilize a tax preparation software or work with a professional tax preparer. 

  4. How are LLC taxes different from personal taxes?

    The Internal Revenue Service automatically taxes LLCs as sole proprietorships or general partnerships, depending on its number of owners, and taxpayers file using Schedule C on their return. As LLCs don’t have their federal tax classification, they can choose to adopt the status of a corporation, with options for C-Corporation or S-Corporation taxation. In an LLC, the profits and losses of the business are passed on to the members and owners, and they benefit from the pass-through taxation as this prevents double taxation that occurs in a C-Corp business structure. In a multi-member LLC, the business owner files using Form 1065, with each member filing Schedule K-1. 

  5. What are the tax benefits of incorporating my business?

    Incorporating your business opens up opportunities for tax deductions and savings that may not be available to sole proprietors or partnerships. You could potentially reduce your tax bill and keep more of your hard-earned money. When you incorporate, your personal assets, such as your house and savings, remain separate from your business assets. This is helpful because if your business ever faces legal troubles or debts, your personal assets are off limits. 

  6. What are the quarterly tax obligations for my business type?

    If your business expects to owe taxes to the IRS upon filing your return, you may be required to make estimated tax payments each quarter. For individuals, including sole proprietorships, partnerships, and S-Corporations, you must make quarterly payments if you expect to owe more than $1,000 in taxes. C-Corporations, on the other hand, must make quarterly payments if they owe more than $500 in taxes. 

  7. What are the common deductions and credits available to businesses?

    Businesses may be eligible for a variety of tax deductions, including state and local taxes, charitable donations, and self-employment expenses. If your business plans to claim any expense deductions, you’ll need detailed records of these expenses, including receipts, invoices, and mileage logs. Common tax credits available to businesses include employer-provided childcare credits, energy credits, and the Work Opportunity Tax Credit. For a more extensive list of deductions and credits available for your business, consult with a tax professional. 

  8. What happens if I make a mistake on my business tax return?

    If you missed the tax deadline or made errors on your return, it’s crucial to take corrective action promptly. Our team can help you file an extension or amend your business tax return.