Tax Return Services for Businesses
As the provider of a broad range of tax accounting and advisory services to corporations, limited liability companies, partnerships and sole proprietorships, Schultz, Wood & Rapp can ensure that you benefit from the in-depth expertise of our experienced tax preparers. In today’s uncertain economic environment, business owners need to know what regulations and tax laws will impact them today and tomorrow.
Partnership Tax Services
Our professional staff is proficient in handling the intricacies of preparing partnership tax returns for the simple two-partner businesses, the diversity of family limited partnerships, to the more complex large partnerships. The filing of these pass-through entities require us to understand the partnership’s agreement as to allocation of profit, loss and other tax attributes so that it may be properly reflected to each partner’s K-1, including multi-member LLCs.
Our partners and tax preparers assist partnerships with their tax compliance needs for federal and state filings, including filing composite returns for non-resident partners.
Corporate Tax Services
We assist our corporate clients in assessing the pros and cons of filing as an S Corporation or as a C Corporation (entity selection), and monitor the ever-changing tax environment for selecting the best choice for their specific facts and circumstances.
C Corporation Tax Services
C Corporations face the challenge of minimizing double taxation for its shareholders or LLC members. Consequently, the expected earnings potential of our clients, their ownership composition, and the practical and legal aspects of conducting business within their industry must be factored in to the selection of filing as a C Corporation.
Our dedicated professionals can competently handle tax reporting in all 50 states for your corporation. Multi-state allocations of income, wages and property require our staff to have a thorough understanding of the dynamic environment in which you transact business in order to minimize your overall tax liabilities and ensure proper tax compliance.
S Corporation Tax Services
S Corporation filing status is more restrictive than a C Corporation. Commonly known as the “Small Business Corporation” filer, taxable income and tax attributes typically pass through to the shareholders of the company via their K-1s, thus allowing its income to be taxed only once.
As noted with C Corporations, our tax professionals can competently handle tax reporting in all 50 states for your corporation. Multi-state allocations of income, wages and property require our staff to have a thorough understanding of the dynamic environment in which you transact business in order to minimize your overall tax liabilities and ensure proper tax compliance.