LLC, Partnership & Corporate Taxation — explore related guides and services.
Business tax preparation should coordinate the entity return, owner reporting, accounting records, payroll, distributions, and year-round planning.
Business and Small Business Tax Preparation
- S corporations;
- partnerships and multi-member LLCs;
- single-member LLCs and Schedule C businesses;
- professional practices;
- real estate businesses; and
- family-owned companies.
Common Issues
- owner compensation;
- basis and capital accounts;
- owner loans;
- distributions;
- depreciation;
- Colorado-source income; and
- book-to-tax differences.
Start With the Business and Its Records
Tell us how the business is organized, where it operates, who owns it and which returns were previously filed. A new entity, ownership change, asset sale or unresolved tax notice can affect the preparation work required.
What to Bring
Gather prior business and owner returns, year-end financial statements, bookkeeping records, payroll summaries, asset purchases, loan balances and owner contribution or distribution records. Include IRS and state correspondence. Identify missing records early so that the scope can account for them.
Preparation and Planning
Annual return preparation can reveal questions that deserve attention before the next year ends. Discuss planned purchases, owner payments and changes in operations while there is time to evaluate the options. See year-round tax advisory for ongoing planning topics. Filing work and any additional legal or planning services should be defined in the engagement.
Reporting a Partnership Ownership Change
A departing owner’s return may require more than the final K-1. See partnership exit and abandonment reporting and the final K-1 checklist for the records needed to coordinate the transaction and the tax filings.
ROBS Corporations and Separate Plan Reporting
A ROBS-funded C corporation has corporate tax obligations alongside its retirement plan’s separate reporting and administration requirements. Preparing Form 1120 does not, by itself, complete the plan’s annual filings.
Related Business Tax Resources
Business return preparation often intersects with entity classification, Colorado reporting, filing deadlines, and significant business transactions.
Discuss Your Tax Preparation and Planning Needs
Work with a Colorado attorney and CPA for coordinated business, individual, rental, and planning services.
Tax Records for Prototype-Stage Companies
Coordinate annual returns with startup accounting and cash forecasts and review domestic and foreign development costs before applying research-cost deductions or amortization.