Comprehensive tax preparation for LLCs, S-Corps, partnerships, and sole proprietors. From entity selection to estimated tax planning to annual filing, we help small business owners stay compliant and keep more of what they earn.
Book a ConsultationBusiness tax preparation involves preparing and filing the required federal and state tax returns for your business entity. The specific forms depend on your entity type — sole proprietors file Schedule C with their individual return, while LLCs, S-Corps, and partnerships file separate business returns (Forms 1065, 1120S, or 1120) with income flowing through to the owners' individual returns.
At TaxWise LLC, we understand that small business owners wear many hats. You shouldn't have to be a tax expert on top of everything else. We handle the tax side so you can focus on running your business. Our approach covers both compliance — filing accurate returns on time — and strategy — structuring your business and transactions to minimize tax within the rules.
We serve small businesses across a range of industries and stages: new ventures choosing their entity type, established businesses managing quarterly estimates, and growing companies navigating hiring, equipment purchases, and multi-state operations. We speak plain English, answer your questions directly, and make sure you understand your tax picture.
Independent contractors, freelancers, gig workers, and single-owner businesses reporting income and expenses on Schedule C of your individual Form 1040.
Disregarded entities for tax purposes. Your business income flows to your individual return, but you may benefit from an S-Corp election as your income grows.
File Form 1065, with K-1s issued to each partner or member. We handle allocations, basis tracking, and guaranteed payment calculations.
File Form 1120S with K-1s to shareholders. We manage reasonable compensation requirements, distribution planning, and basis calculations.
Just getting started? We help you choose the right entity type, register for an EIN, understand your filing obligations, and set up a recordkeeping system.
Operating or selling in multiple states. We determine where you have nexus, which state returns are required, and how to apportion income.
These milestones and situations may change your tax obligations or create opportunities for tax savings.
Choosing the right entity type (LLC, S-Corp, sole proprietorship) affects your tax rate, liability exposure, and administrative burden. Early planning can save thousands in unnecessary taxes.
As your profit increases, an S-Corp election may reduce self-employment tax. We can run projections to determine the break-even point where it makes sense for your situation.
Payroll introduces federal and state withholding, unemployment taxes, and quarterly payroll filings. Worker classification (employee vs. independent contractor) must be determined correctly.
Section 179 expensing and bonus depreciation can accelerate deductions for qualified purchases. We help time major purchases for maximum tax benefit.
Business tax notices — sales tax audits, payroll discrepancies, or income matching notices — deserve prompt, professional response to avoid escalating penalties.
The tax treatment of a business sale depends heavily on how the deal is structured (asset sale vs. stock/interest sale). Advance planning can materially change the after-tax outcome.
Having these records organized helps us prepare your business return accurately and identify potential deductions you may have missed.
We review your entity structure, ownership, and any changes from the prior year. If you're a new client, we examine prior returns for missed opportunities and ensure your entity structure still fits your goals.
We review your income, expenses, asset purchases, and payroll. We reconcile your books to your tax return workpapers, identify any discrepancies, and categorize transactions for optimal tax treatment.
We prepare your business return (Schedule C, Form 1065, or Form 1120S), K-1s, and related state returns. We identify deductions, credits, and elections that apply to your situation, including Section 179, bonus depreciation, and the QBI deduction.
We walk you through the return, explain key figures, and answer your questions. After e-filing, we discuss estimated tax payments for the coming year and any tax-saving strategies to consider before year-end.
Schedule a consultation with a CPA who works with small businesses every day. We'll discuss your entity, your goals, and how to minimize your tax burden.
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IRS Circular 230 Disclosure: Any tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding federal tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.
Important: Do not send sensitive personal information such as Social Security numbers or banking details through unsecured forms or email. Use our secure client portal for document uploads. The information on this page is for general informational purposes only and does not constitute professional tax advice. Every taxpayer's situation is unique — please consult with a CPA regarding your specific facts and circumstances.