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Tax

Business Tax

Tax compliance and planning built around your business structure. Different business entities create different filing requirements, tax considerations, and planning opportunities. We help business owners understand and manage those obligations.

LLC Tax Services by Akato Associates llc

Business Tax Services

We prepare and advise on tax matters involving:

  • S Corporations — Form 1120-S, shareholder basis, K-1 reporting, reasonable compensation, distributions, elections, estimated taxes, and related planning.
  • Partnerships & Multi-Member LLCs — Form 1065, partner K-1s, capital accounts, basis considerations, guaranteed payments, allocations, and related planning.
  • C Corporations — Form 1120, corporate income tax, compensation, distributions, federal and state compliance, and planning considerations.
  • Sole Proprietorships & Single-Member LLCs — Schedule C reporting, self-employment tax, estimated payments, business deductions, and entity-selection considerations.

Business Tax Planning

Throughout the year, we may evaluate:

  • Estimated tax payments
  • Owner compensation
  • Business deductions
  • Depreciation
  • Capital expenditures
  • Entity structure
  • State taxation
  • PTET elections where applicable
  • Retirement-related tax considerations
  • Year-end transactions

Frequently Asked Questions

When should a business consider an S corporation election?
An S corporation can be beneficial in some circumstances, but the decision should consider profitability, reasonable compensation, payroll requirements, state taxes, administrative costs, and the owner's overall tax situation.
Does an LLC file its own tax return?
It depends on the number of owners and the tax classification elected. An LLC is a legal entity type and can be taxed in several different ways.
Can you prepare the business return and owners' individual returns?
Yes.
Can you help with quarterly estimated taxes?
Yes.

This material is provided for general information only and does not constitute accounting, tax or legal advice. It does not take account of your particular circumstances. Contact the firm before acting on anything you read here.

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Connect Business Tax Compliance With Year-Round Planning

Your business tax strategy should evolve as your business changes.

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