Business Tax Services
COR is here to assist clients with complex tax challenges with certainty. Business taxes play a vital role in your company’s success. From small business basics to tax underpayment corrections COR provides the professional tax assistance needed to prepare, plan, and file your business taxes.
Our Business Tax Services Include:
- Return Preparation and Planning
- Audit Preparation
- Filing of Tax Forms
Filing business taxes is not a fast and simple process. There are several steps along the way beginning with the closing of your books. If you are not familiar with this process, please visit our Bookkeeping Services Page for more information.
Gather your documents.
Gather all business financial records. The first step is to gather all of your business earnings and financial reports, have them together and ready for reference.
If you are familiar with QBO this can be done by making sure your books are reconciled and accurate before running your Balance Sheet and Profit and Loss Statements. If you are not familiar or require assistance with this, please call us directly.
Identifying the correct Tax Form for Completion
Reporting your business financials to the IRS is a no-brainer but knowing which type of IRS Form to complete can be intimidating. The type of forms that need to be filed depend on the business entity type.
There are several different types of business entities and they each require a different set of tax forms to be filed and completed during tax time. Generally, a business calculates their taxable business income in similar ways regardless of the entity type or the tax form required. Within the state of Texas each taxable entity must file a Franchise Tax Report, along with an Information Report.
Complete your Tax Forms
Using your gathered business financial documents as reference, complete the proper tax forms to submit to the IRS.
Pay attention to deadlines
Be aware of different filing deadlines. State guidelines for Franchise Tax Reports and Information Reports are something that you need to be aware of.
Business taxes are not only tedious, but they can also be daunting especially when it comes to identifying the proper forms to file for your return and meeting all of the deadlines.
Contact us today for all of your business tax needs!