Business Tax Preparation

Tax laws have always been complex. Worst still, the laws are constantly changing, making it difficult for many businesses to keep tabs on what is applicable at any given period.

At the risk of being obvious, you should not prepare your business tax returns unless you are an expert in the field of tax preparation. Attempting to do so might result in costly mistakes.

Overlooking deductions is an all-too-common error. Plus, you might not even be aware of the tax credits you are eligible for. While computers or software can speed up tax preparations, you still need the know-how to use it.

Your safest bet is to hire professionals that can navigate the complex and challenging terrain of the tax landscape. Of course, it will cost you money upfront, but that is nothing compared to what you may potentially lose (in fines and penalties) if you were to prepare your taxes wrongly.

Besides, professionals approach business tax preparations from a vantage point where many others know little about. While many people dread the tax season, the professional understands that the tax laws are filled with opportunities if you know what to look for.

Tax Breaks You Can Take Advantage Of

There are benefits within the tax law that many small businesses qualify for, but are not taking advantage of. Some of these include:

• 401(k) plan
• Bad debt write-off
• Disabled access credit
• First-year expensing of business equipment
• Home office deduction
• Keogh plan
• SEP
• SIMPLE plan
• Tax-free exchange
• Year-end bonuses
• Other business tax credits

Why You Should Trust Us

You can trust our seasoned experts to review your business operations and make recommendations based on current tax laws for your benefit.

Our experienced professionals at Chaudhry CPA have the necessary expertise covering a wide range of tax situations. We understand the tax needs of businesses and non-profit organizations and have consistently delivered impressive results to our clients.

All business tax returns for organizations with tax-exempt status and businesses are carefully prepared in line with current tax laws and updated IRS code.

We collect the necessary data about your organization to help us prepare the most accurate tax returns. Some of the details include:

• Employee retirement plans
• Overhead
• Other business expenditure

It is important to leave no stone unturned during this initial step of gathering data, as it will help us prepare an all-encompassing report that includes all taxable income during the year.

Our Business Tax Services

Here are the business tax services we offer

• Income tax planning
• Partnership and corporate and tax preparation
• Estate and trust planning
• Assisting organizations to obtain tax-exempt status
• Preparation tax returns for tax-exempt and non-profit organizations

Regardless of the size of your business or non-profit organization, our team is well position to prepare a comprehensive tax return, thanks to our collective decades of experience in the field.

Contact us if you have questions or need more information about business tax preparations. We can guide you on how to reduce your taxes.