TAX CONSULTANT

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San Diego, California, and Nationwide Tax Consultant

ASCEND Business Advisory keeps you compliant with your taxes. That involves much more than filing taxes on time. We provide full tax consulting to help you maximize your cash flow, minimize your tax obligations, and keep your business fully compliant with tax laws. When it comes to the financial health and stability of your business, having a good tax consultant on your team is vital.

How to find a good tax consultant

A good tax consultant will help you protect the wealth that you’re generating with your business, as well as save you money on your taxes. Choosing a good tax accountant is one of the biggest decisions you’ll make for your business. A good tax consultant will:

  • Be passionate about small business
  • Be a local firm, not a faceless corporation — no chains!
  • Have a proven track record and the education and experience needed to give you great advice
  • Have a great financial accounting system [link to back office]
  • Spend time with you to really learn the ins and outs of your business model, in order to find the best opportunities for savings
  • Work with high integrity and keep you out of jail

When are business taxes due

The IRS has a set calendar for filing and paying business taxes. In short, your business taxes are due (IRS) by these dates:

  • Sole Proprietorships (Form 1040): April 15
  • Single-Member LLCs (Form 1040): April 15
  • Partnerships (Form 1065): April 15
  • Estates & Trusts (Form 1041): April 15
  • Corporations (Form 1120): March 15 (March 16, 2015 this year)
  • S-Corporations (Form 1120S): March 15 (March 16, 2015 this year)
  • Homeowners Associations (Form 1120-H): March 15 (March 16, 2015 this year)
  • Cooperative Associations (Form 1120-C): March 15 (March 16, 2015 this year)
  • Real Estate Investment Trusts, REITs (Form 1120-REIT): March 15 (March 16, 2015 this year)
  • Real Estate Mortgage Investment Conduits, REMICs (Form 1066): April 15

How to file small business business taxes

One of the biggest concerns for small business owners is filing and paying business taxes. In order to file your business taxes, you will need to:

  1. Collect and document all of your business expenses.
  2. Identify the proper form(s) to file — that’s where a good tax consultant comes in.
  3. Complete all forms and submit payment by the correct deadline, or file extensions.

Looks simple enough, doesn’t it? The key to saving time and money on your taxes to have an expert with the right experience and understanding of the tax codes in your corner. We work to keep that auditor away!

How much does a small business pay in taxes

How much a small business will pay in taxes will greatly depend on the legal form (entity) of that business, the type of business, and its earnings. Differences in taxes among a C Corporation, and S Corporation, and an LLC can be significant and will likely require the advice of a good tax consultant in order to make the best financial decision for your business. The other factors here are the new tax laws just passed and adopted by the federal government.

What does an accountant need in order to prepare taxes

Your accountant will need your financial records for the period covered by your tax filing. These include:

  • Financials like your balance sheet, cash flow and income statement
  • Payroll information
  • Previous payments and/or assessments
  • Vehicle records
  • Receipts or statements on capital equipment and land/buildings
  • Summary of business use of a home office
  • More, depending on entity type and type of business

Conclusion

If reading through this raised your blood pressure a bit or if thoughts of taxes keep you up at night, give us a call to review your situation. ASCEND Business Advisory has the experience, expertise, and personal touch you want in a tax consulting firm.

ASCEND Tax strategies and solutions will help take the stress off .