- Serving Taxpayers Since 1993
- File In Person or Fully Virtual
- Year-Round Help, Not Just Tax Season
- Nonprofit & Church Specialists
- Flexible Refund & Payment Options
A business return in Katy is mostly a federal job. Texas has no state income tax, so there is no state copy of your partnership or S corporation return. That puts all the weight on the federal forms and on the K-1 each owner receives. One wrong figure on a K-1 shows up on every owner’s personal return. We prepare business returns all year from our office on Kingsland Boulevard, and we check each K-1 against the books before it goes out.
When You Need Business Tax Preparation
Your company files a return of its own if it is a partnership, an S corporation or a C corporation. Most LLCs with two or more owners are taxed as partnerships, and an LLC can also choose to be taxed as an S corporation. In both of those cases the profit passes through to the owners. The IRS page on S corporations explains that shareholders report that flow-through income and loss on their own returns.
For calendar-year companies, partnership and S corporation returns are due March 15. C corporation returns follow in April. The IRS can charge a late penalty on a partnership or S corporation return that grows with every owner and every month, so March is the date to watch.
Our Business Tax Preparation Process
Send us your profit and loss report, or your bank and card statements if the books are behind. Add last year’s return, payroll reports, loan statements, and records for any equipment or trucks you bought or sold. We match the books to the bank, flag anything that looks off, and ask you about it.
Next we prepare the federal return and a K-1 for each owner. We walk through the result with you before anything is filed. If the records won’t be ready by March 15, we file an extension and keep working. The same revenue figure also feeds your Texas franchise report in May, so we line the two up while the year is still fresh.
Business Property Across Three Counties
Katy spreads across Fort Bend, Harris and Waller counties. Your shop off I-10 in Harris County and your home in Cross Creek Ranch in Fort Bend County may get bills from two different appraisal districts. Property tax the company pays on its own building or equipment is a business cost on the return. We ask for every bill so none is left off, and we keep your home’s property tax on your personal return where it belongs.
Business Tax Preparation Cost in Katy
The fee depends on the type of return, how many owners there are, and the state of your records. Books that already match the bank take less time than a year of statements we sort from scratch. Payroll, big equipment purchases, and income from more than one state add time too. We tell you the fee before we start.
Why Choose Us for Business Tax Preparation
We have prepared partnership, corporate and personal returns since 1993. Because we stay open year-round, a K-1 question in July or an IRS letter in October gets answered then, not next spring. You can meet us near the Grand Parkway or send your books online and sign electronically. When we prepare the owners’ returns too, the business and personal numbers match.
Your company return is one part of our accounting help for Katy business owners.
Common Questions
Can my LLC be taxed as an S corporation?
Often, yes. An LLC can ask the IRS to treat it as an S corporation if it meets the rules. That can change how much self-employment tax the owners pay, but it also means running payroll for the owners who work in the business. We run the numbers with you first.
What happens if a partner's K-1 was wrong?
We can prepare a corrected business return and new K-1s. Each partner may then need to amend their own return. The sooner a mistake is caught, the easier the fix.