Your business return and your personal return are connected.
For most small businesses, the business results end up on the owner's personal return. Sole proprietor income is generally reported on Schedule C, and partners and S corporation shareholders report their shares from a Schedule K-1. Only a C corporation is taxed as a fully separate entity.
That connection is why it helps to look at both returns, and the year ahead, in the same conversation.
Where business owners usually start.
Business tax returns
Partnership, LLC, S corporation, and C corporation returns, plus sole proprietor activity on the owner's return.
Business Tax ReturnsBusiness consulting and tax planning
Entity choice, owner pay, and estimated taxes, planned before the year is over.
Business ConsultingYour individual return
The personal return that brings your business income together with the rest of your household's.
Individual Tax Returns
Questions that come up as a business grows.
Growth changes the tax picture in ways the return only reports after the fact. These are common reasons to start a planning conversation.
- Adding a partner or shareholder, or buying one out.
- Considering an S corporation election.
- Changing how owners are paid.
- Buying a vehicle, equipment, or other major asset.
- Hiring the first employees.
- A year that is running well ahead of, or behind, the last one.
Keep the books and the tax work in separate lanes.
Return preparation and tax planning depend on reliable records, but they are not bookkeeping. Bookkeeping and payroll are not included in a return or planning engagement.
If the records are behind, say so at the start. The timetable for a return should reflect the actual condition of the books.
COMMON QUESTIONS
Questions you may have.
Can I ask about entity choice before I form the business?
Yes. A planning conversation before formation can compare how different structures would be taxed. Legal formation questions may also need an attorney.
Do you work with sole proprietors who have no entity?
Yes. Sole proprietor income and expenses are generally reported on Schedule C with the owner's individual return, and that return can be prepared here.
What should I send with my first inquiry?
Only your contact information and the service you need. Keep financial statements, tax returns, and other sensitive records out of the website inquiry form.