We specialize in tax preparation for personal, corporation, sole proprietorships, LLC, partnerships, nonprofits and Estates and Trusts. We are extremely competitive on pricing and offer excellent services. Our goal is to lead you in the right direction and create the most optimal tax return for you by completing a thorough evaluation of your income and expenses. We want to make you happy and keep you as a client year after year. Contact us for book keeping services.
We will also offer a free evaluation of your last three years’ worth of tax returns. Many times we find errors in your favor.
Corporate or Company Formation
If you are a business owner, even if a single member business or self-employed person it is generally best to create a legal separate entity. A legal separate entity such as C Corporation or S corporation can help in some situations reduce taxes. We are very economical when helping you begin your company. We will help your business grow and save you time by allowing us to take over the paperwork. We will discuss your future goals, objective and aspirations to determine what formation is best for you or your business. We can do this right from your computer or phone. No need to come into an office and waste time driving.
This is the simplest way of structuring a business, but can be costly in the long run. This type of business is not a legal separate entity. The owner is structured as the business and vice versa. There is not any separation of liabilities, information will be entered on the schedule C of your tax return.
LLC Limited Liability Company
A limited liability company, or LLC, is a business entity created under state law that combines characteristics of both a corporation and a partnership. Like a corporation, the owners of an LLC are generally not personally liable for company debts. Like a sole proprietorship or a partnership, an LLC has operating flexibility and is, by default, a pass through entity for tax purposes. This means the company does not have taxes but the partners’ share of company income is passed through to the partner’s tax returns.
Corporation is a separate and distinct legal entity created under state laws and owned by the shareholders. It protects shareholders from personal liability for corporate debts and obligations up to the amount invested. The C corporation is double taxed, once as the corporation and then the owners are taxed on the dividends paid out. There are special meetings and reports that must be filed. We can help with these.
Corporation is a corporation created under state law that elects to be treated as a pass through entity. All income or losses are passed through to the owners of the company and inserted on the owners own personal tax return. The company does not pay taxes, only the individuals do. Like the C corporation there are special meetings and reports that must be kept and filed.
Is a legal separate entity formed to benefit specific group of individuals in the public. This is a complicated structure and a lot of paperwork involved. The nonprofit must file special paperwork with the IRS called the 501 (c)(3), there are a variety of options under the nonprofit structure and it is important to choose the correct one. There is no pass through income with this structure. It is tax exempt and the monies are used to again help a group of individuals of the public. This structure is heavily scrutinized with the accounting and therefore very important to have Guardian on your side.
This is much like the sole proprietorship but the major difference between the two is the partnership is formed by two or more people. This is not a separate legal entity and the owners are liable for company debt and other obligations.
Limited Liability Partnership
Is a business structure designed for partners who want a voice in managing their firm, but do not want to share liability. A partner in an LLP is not responsible for the debts or liabilities of the partners. Many state laws say the limited liability protection is less than what is offered to Limited Liability Companies.
There is special state agency paperwork that must be filed with the state. There is no need to file any federal paperwork. This is a step up from the general partnership as the company is operated much like a general partnership, in this formation another separate company is formed with limited liability protection. This part of the company is where management decisions are made and protects the owners to be personally liable to the amount of capital they invest in the business.
Click to begin your tax preparations