Strategic Tax Planning

Year-round tax guidance to optimize your savings using the latest legal strategies.

Strategic Tax Planning

Year-round tax guidance to optimize your savings using the latest legal strategies.

Simplify Corporate Taxes with Premier Tax

Navigating corporate taxes can be complex, but Premier Tax makes the process seamless. Their expert team provides tailored guidance, ensuring your business stays compliant with tax regulations while maximizing deductions and credits.

With Premier Tax, you’ll receive support in preparing and filing corporate tax returns, managing estimated tax payments, and handling state and federal requirements. They also help identify tax-saving strategies specific to your industry and business structure.

Whether it’s year-end reporting, navigating changing tax laws, or addressing audits, Premier Tax offers the expertise and tools you need to streamline your corporate tax process and focus on growing your business.

Navigating corporate taxes is easier with Premier Tax’s expert guidance and tools. They provide:

Customized Tax Planning

Receive strategies tailored to your business structure and industry to minimize tax liability.

Maximized Deductions and Credits

Identify opportunities for tax savings, such as industry-specific deductions and available credits.

Year-End Reporting Assistance

Simplify the process of preparing financial statements and reconciling accounts for tax purposes.

Cash Flow Optimization

Develop tax strategies to improve cash flow and reinvest in your business.

With Premier Tax, you’ll have a trusted partner to handle your corporate taxes, allowing you to focus on business growth and success.

Here are common business tax forms and their descriptions:

Form 1120 – U.S. Corporation Income Tax Return Filed by C corporations to report income, gains, losses, deductions, and credits for the tax year. This is the primary form for corporations to calculate and pay federal income taxes.

Form 1120-S – U.S. Income Tax Return for an S Corporation Used by S corporations to report income, deductions, and shareholder distributions. Although S corporations don’t pay income tax directly, this form helps allocate income or loss to shareholders for their personal tax filings.

Form 1065 – U.S. Return of Partnership Income Partnerships use this form to report income, deductions, gains, and losses. Partnerships don’t pay income tax directly; instead, profits and losses pass through to partners, who report them on their individual returns.

Schedule K-1 (Form 1065 or Form 1120-S) Issued to partners (from a partnership) or shareholders (from an S corporation) to show their share of the entity’s income, deductions, and credits. This information is reported on their personal tax returns.

Form 1099-NEC – Nonemployee Compensation Used to report payments of $600 or more made to independent contractors or freelancers. Businesses must issue this form to nonemployees and file a copy with the IRS.

Schedules for Partnerships and S Corporations

Schedule K-1 (Form 1065 or Form 1120-S) Purpose: Used to report each partner’s or shareholder’s share of income, deductions, credits, and other tax items. Who Uses It: Issued to partners in partnerships (Form 1065) or shareholders in S corporations (Form 1120-S).

Schedule M-1 (Form 1120, 1120-S, or 1065) Purpose: Reconciles income (or loss) on the tax return with income reported on the financial statements. Who Uses It: C corporations, S corporations, and partnerships.

Schedule M-2 (Form 1120, 1120-S, or 1065) Purpose: Tracks changes in retained earnings (or partners’ capital accounts) during the tax year.

Who Uses It: Required for C corporations, S corporations, and partnerships.

Schedules for Individual Business Owners (Self-Employed)

Schedule C (Form 1040) Purpose: Reports income and expenses from a sole proprietorship or single-member LLC.

Who Uses It: Self-employed individuals, freelancers, and sole proprietors.