Make tax season easier on your small business.
For many small business owners, the phrase “tax season” makes them shudder. Compared with filing your personal taxes, business taxes are much more complex and take into account payroll tax, equipment depreciation, industry-specific deductions and credits, and many more intricacies. If you feel overwhelmed at the prospect of filing your small business taxes on your own, the best thing to do is call us at Proctor & Assocs.
We help companies from all over Charlotte, North Carolina file their small business tax returns successfully. Know that even if it is a few weeks before the filing deadline and you still haven’t started your taxes, we can help. Small business tax returns are our primary area of expertise, and we promise that no matter what your financial recordkeeping looks like, we can help you file a successful return year after year.
At the same time, it is always best to collect accurate financial data throughout the year to ease the burden of filing your small business taxes. Our team can provide expert financial services throughout the year to not only streamline filing your taxes, but also help you ensure financial stability now and in the years to come.
Filing your small business tax returns is no longer a stressful issue with our team at Proctor & Assocs. on your side. Find out more about our small business tax services and how we can help you prepare for every tax season by giving us a call.
FAQs About Small Business Tax Returns
You could be the most proficient and knowledgeable person you know about doing your personal federal income tax return yet be completely baffled when it comes to small business tax returns. They are a completely different creature. If you have a new small business, it is important to get the professional assistance you need to get your accounting system set up properly and to complete your small business tax returns. At Proctor & Assocs. in Charlotte, North Carolina, we offer tax advice throughout the year. Feel free to reach out to us with questions you have rather than wait until the end of the year. Here are a few common questions we have been asked about small business tax returns to get you started:
Is there just one tax return for all types of small businesses?
No, the tax forms used will depend on how your company was structured and the nature of your business. For example, a sole proprietor doesn’t use small business tax returns as income is reported using Schedule C on their personal income tax return. Partnerships, S-Corps, and C-Corps all have different forms and each can have supplemental forms based on what has occurred during the year. If you are just getting started with a company, we recommend reaching out to us for advice on how to structure it.
What can I expect to be invoiced for small business tax returns?
No two tax returns involve the same amount of expertise, effort, and time, so it is not always possible to give you an accurate estimate about what your tax return preparation will run. Once we see what is involved, we can give you a better idea.
I’m late on filing my return because I can’t pay what is due. What should I do?
There are two separate penalties involved. One is for late filing and one is related to not submitting the taxes due. We recommend getting your return filed to minimize the late filing penalty. We can then go over your options for getting the taxes paid.