Small Business Tax Preparation
Need Help With Your Business Taxes ?
Tax season should not feel like another full-time job.
Organize Income and Expenses, Review Ppossible Deductions, and File With More Confidence.
Who Is This Service For?
Our small business tax preparation service is designed for business owners who need help preparing and filing their annual tax return.
Your business structure matters because it affects which tax return form you may need to file. The IRS says common business structures include sole proprietorships, partnerships, corporations, S corporations, and LLCs, and the structure determines which income tax return form applies.
What Business Tax Return Do You Need?
Different businesses file different tax forms. Here is the simple version:
| Business type | Common tax form |
|---|---|
| Sole proprietor | Schedule C with Form 1040 |
| Single-member LLC | Usually Schedule C with Form 1040 |
| Partnership / multi-member LLC | Form 1065 |
| S corporation | Form 1120-S |
| C corporation | Form 1120 |
A sole proprietor generally uses Schedule C to report income or loss from a business operated as a sole proprietor. Partnerships use Form 1065, S corporations use Form 1120-S, and domestic corporations use Form 1120 to report income, gains, losses, deductions, credits, and tax liability.
How Much Does Small Business Tax Preparation Cost?
It first depends on the type of business, how organized your records are, how many forms are needed, and whether bookkeeping cleanup is required.
Here is a simple example pricing framework you can use only if Hector approves it:
| Business situation | Example preparation range |
|---|---|
| Simple sole proprietor / Schedule C | $250–$500 |
| Independent contractor with organized records | $300–$700 |
| Single-member LLC | $350–$800 |
| Partnership / multi-member LLC | $700–$1,500+ |
| S corporation return | $900–$2,000+ |
| Business return with messy records | Custom quote |
These are example ranges, not guaranteed prices. A final price depends on the work needed.
What Can Increase the Price?
Your business tax preparation may cost more if:
- Records are not organized
- Bank statements need cleanup
- Income sources are mixed with personal transactions
- Multiple businesses are involved
- Payroll or contractor forms are involved
- Inventory must be reviewed
- Prior-year issues need correction
- Bookkeeping needs to be completed before tax filing
Want a clear price? Contact Shore Tax and Insurance for a business tax review.
What Documents Do You Need for Business Tax Preparation?
To prepare your business tax return, you may need:
Income Documents
- 1099-NEC forms
- 1099-K forms
- Sales reports
- Invoices
- Bank statements
- Payment processor reports
- Cash income records
Expense Records
- Receipts
- Bank statements
- Credit card statements
- Software subscriptions
- Advertising expenses
- Rent or office expenses
- Phone and internet bills
- Vehicle and mileage records
- Contractor payments
Business Information
- Business name
- EIN, if applicable
- Business address
- Business structure
- Prior-year tax return
- Bookkeeping records
- Payroll records, if applicable
Asset and Equipment Details
- Equipment purchases
- Vehicle purchases
- Computers
- Tools
- Furniture
- Machinery
- Depreciation records from prior years
Business Taxes for LLCs, S Corps, Partnerships, and Corporations
LLC Tax Preparation
An LLC can be taxed in different ways depending on the number of owners and any tax elections made. A single-member LLC may file like a sole proprietor, while a multi-member LLC may file as a partnership unless another election applies.
S Corporation Tax Preparation
An S corporation files a business return and passes income, losses, deductions, and credits through to shareholders for federal tax purposes. IRS guidance explains that S corporation shareholders report the flow-through income or losses on their personal returns.
Partnership Tax Preparation
Partnerships usually file an information return using Form 1065. The business itself reports activity, and partners receive their share of income, deductions, credits, and other items.
Corporation Tax Preparation
A C corporation generally files Form 1120 to report income, gains, losses, deductions, credits, and income tax liability.
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Why Choose Shore Tax And Insurance
When it comes to handling SR-22 requirements and securing the non-owner insurance you need, we make the process as smooth and stress-free as possible. Here’s how we stand out:
Fast Filings: We understand the urgency of reinstating your driver’s license. That’s why we prioritize same day, efficient SR-22 filings with the DMV to get you back on the road sooner.
Competitive Rates: We work diligently to find for you the most affordable non-owner insurance options that meet Virginia’s requirements. Our goal is to minimize the financial burden during this already challenging time.
Clear Guidance: Navigating SR-22s can be confusing. We’ll break down the process in plain language, explain your responsibilities, and keep you informed every step of the way.
Comprehensive Insurance Solutions: Whether you eventually need standard car insurance, renters insurance, or other coverage, we’re your one-stop-shop for protecting what matters most.
FAQs
The process of organizing business income, expenses, deductions, and required forms so the business tax return can be prepared and filed correctly.
It depends on your business structure. Sole proprietors usually file Schedule C with Form 1040. Partnerships usually file Form 1065. S corporations file Form 1120-S. C corporations file Form 1120.
The price depends on your business type, number of forms, record quality, bookkeeping needs, and complexity. A simple Schedule C return may cost much less than an S corporation or partnership return with payroll, assets, or messy records.
You may need prior-year tax returns, income records, 1099 forms, bank statements, credit card statements, receipts, mileage logs, payroll records, contractor payments, and bookkeeping reports.
Many ordinary business expenses may be deductible, but the deduction depends on the type of expense, business use, and records. A tax preparer can help you organize and review your expenses.
Some business owners and self-employed individuals may need to pay estimated taxes during the year. The IRS says estimated tax is calculated using expected adjusted gross income, taxable income, taxes, deductions, and credits.
Yes. Contact Shore Tax and Insurance to start your small business tax preparation process.
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Tailored Solutions:
Customized insurance coverage that meets the specific needs of your Virginia business, ensuring you’re protected against unique risks.
Bilingual Support:
Comprehensive support in both English and Spanish, facilitating clear communication for Virginia’s diverse business community.
Fast Claims Process:
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Customer Service Commitment:
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