Small Business Tax Return Preparation Services in Las Vegas, NV
Every year business owners must report their revenue, expenses, and profits to the Internal Revenue Service (IRS) to pay their fair share of taxes. We help small businesses cover their tax obligations with regard to the proper business structure.
- Sole Proprietors (Self Employed) The owner and the business are legally the same. The owner assumes all business income tax returns, business expenses, assets, and liabilities. Make the best of your business losses and minimize your tax liability.
- General Partnerships (1065) Like Sole Proprietors, the business and its owners are treated the same. These partnerships will divide their share of assets and liabilities according to their percentage owned. Partnerships can be great for tax purposes when done correctly.
- Limited Liability Companies (LLC) The business and its owners are legally separate. LLCs are treated as a Single Member LLC or a Partnership for tax purposes and are “pass-through” entities which mean no separate tax on the LLC’s income.
- S Corporations (1120S) A separate legal entity from its business owners like LLCs, S corps are pass-through entities so they are not subject to double taxation like C Corporations are. This allows for great tax flexibility.
- C Corporations (1120) Corporations pay taxes on their income and then a second tax is paid on the owner’s dividends. C Corps are great for developing businesses that offer shares to their investors.
- Non-Profit Entities (990) Non-profits are not subject to pay any federal taxes when they turn overall income to individuals or organizations who are lawfully recognized as charitable. Non-profits must file taxes to stay compliant.