TAX PREPARATION SERVICES
The upcoming tax season is approaching and many taxpayers are looking to file their tax returns in the near future. While this may seem like an overwhelming task, our firm in Flower Mound TX is able to help business owners and self employed taxpayers complete their tax returns with ease. With our firm, business taxpayers will be able to get a wide range of tax services that will help them lower their tax liability, maximize their deductions and otherwise save money.
One of the main tax services that our tax firm in Flower Mound TX provides is income tax preparation. Our firm will help business owner file all of the necessary tax returns that they need to file as an individual. We will complete your schedule C, Schedule SE and 1040 forms. As well as completing these tax returns, we will also help you complete forms such as 1065 K-1 for partnerships and K-1 forms for C corporations as well.
Another type of tax returns that our firm will help taxpayers with is payroll taxes. We will file all of the federal and state payroll tax forms that you are required to fill out and submit. Our firm will prepare the 941 quarterly payroll tax returns, the 940 FUTA tax returns and also any state payroll tax return that you need to file. Along with filing the forms, we will make sure that you have all of your tax liabilities paid up by the time you file or help you arrange a plan to pay all of your payroll taxes on more affordable terms.
As a business owner, you will often have to file sales tax returns. These are returns where you will need to submit and pay taxes on everything that you sell. Our firm will help you file all of the necessary forms that pertain to selling products and collecting taxes from your business. As well as filling out the tax returns, we will also ensure that all of the sales taxes are paid in a timely manner in order to avoid unnecessary penalty and interest payments.
Over the course of the year as a self employed individual, you will need to pay your taxes on a quarterly basis. At our firm, we will fill out and submit all of the federal and state estimated tax returns every quarter. As a result, you will be able to know where you stand financially as well as ensure that you pay your taxes over the course of the year and avoid a costly tax bill at the end of the year.
SELF EMPLOYMENT TAXES
Whenever you are in business as a sole proprietor, there will be self employment taxes that you will be liable for. As a result, you will need to make additional tax payments on top of your ordinary income taxes. Our firm will evaluate your annual net earnings from self employment and then calculate the total tax liability. After calculating the self employment taxes, we will then fill out the forms and submit them to the IRS. Along with filing the tax returns, we will also make sure that they are all paid up or help you arrange a payment plan that will best meet your financial needs.
Along with providing tax services, our firm will also assist clients with other tasks as well. We provide bookkeeping services to track all of your business income and expenses. Our firm also provides payroll services to calculate paychecks, submit them to your business employees and file the necessary tax returns. At our firm, we also help provide you with tax planning in order to help you come up with effective strategies to minimize your tax liability and better manage them during the year. All of these services help you save time and allow you to focus on running your business.