Tax Return Preparation for Business Entities

Small Business Entities Served: 

• Liability Company (LLC)
• Corporation
• S-Corporation
• Partnership
• Sole Proprietorship

AAS Tax Services, can prepare Federal and State tax returns for small business enterprises. This includes income tax return preparation for

• 1120 for Corporate Entities
• 1120-S for Corporate Entities Electing Pass-Through Status
• 1065 for Partnerships
• Schedule C (as Part of Form 1040, Income Tax Return for Individuals) for Sole Proprietors
• Single Member Limited Liability Companies (LLCs).

Although we are not a payroll company, we help to resolve past issues with Federal (IRS) and State payroll tax returns and other filings (such as W2s). We can prepare Federal forms 941 and 940, for example, as well as do amended returns to correct mistakes in already filed payroll related returns.

There might be some variations and selections available on how to prepare the returns within each form. For example, Personal Service Corporation is taxed at different federal tax rate than other corporations, Single Member Limited Liability Company  can elect, for taxes purposes, to be a corporation, while multi-member LLC can elect to file taxes as a partnership.

We also prepare State Income Business Tax Returns, as well as offer help with state payroll tax issues, such as late filings or amendments of previous filings.. As expected, the most common in our office are business returns for New Jersey. We also prepare business tax returns for other states, as well as multi-state tax returns.

We e-file all business tax returns prepared by AAS TAX SERVICES, LLC, assuming that the state is set-up to accepted e-filed returns.  For example, State of New Jersey does not accept S-Corporation tax returns; they must be mailed as paper versions.There is no additional charge for the e-filing; it is included in the business tax return preparation fee. 

We can prepare amended business tax returns previously filed. This can be done within three years counting from the filing deadline.

As it is the case with individuals, those who never filed business tax returns for prior years, and for those for whom the IRS did substitute business tax returns, we can prepare and file such business returns for all the pending years. The benefit of doing this is that you clarify the situation about how much you owe to the IRS or state.  Another benefit of filing your own returns for the prior years is that the IRS prepared substitute returns usually will have higher tax liability.  This is because the IRS will not include in the returns prepared by them all the deductions you deserved. 

There are substantial penalties for not filing business tax returns on time. So, talking about current business tax return filings, if you are not ready to prepare and file your tax return by the due date, we can request an extension of time to file.

Should you have a valid reason for being late with business tax return filings, AAS Tax Services can prepare request(s) to abate the penalties.