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Business Tax Return Preparation

Business & Corporate Tax Preparation

Successfully preparing tax returns of US businesses owned by international entrepreneurs

Able to provide tailored advice to corporations and businesses of all sizes on the best possible tax strategies, all accountants working alongside Mount Bonnell Advisors can help minimize income taxes whilst achieving maximum business refunds.

Especially vital for international business owners who may not be totally familiar with the US tax code, we can offer expert advice to increase tax knowledge to match that of US-born entrepreneurs.

The vast majority of our clients are permanent US residents, foreign nationals or US citizens with major business interest in other countries including the Philippines, India, Western-European countries and China. We know precisely how to handle the tax affairs of international business owners, and we guarantee to provide you with the expertize you need.

Book an Expert Consultation on Building Your Business in the US, US Taxes and Moving to the US

Book an Expert Consultation on Building Your Business in the US, US Taxes and Moving to the US

What we offer

Able to stay up-to-date with the every-changing Federal, State and local tax laws, our associated accountants are able to achieve the maximum deductions for your business – including the new 2017 tax law out of Congress.

In short, this means you will pay the least amount of income tax possible, without breaking any laws whatsoever. There are multiple issues and business structures an accountant or CPA (certified public accountant) must know to effectively prepare corporate & business tax returns, and all who work with Mount Bonnell Advisors possess all expert knowledge necessary.

Taking full pride in knowing all there is to know about today’s intricate tax requirements, we work with an impressive variety of corporations/businesses within the entirety of the US. Including legal services, technology firms and even not-for-profit organizations, our expert accountants provide the best possible tax preparation tailored to each individual client.

San Francisco-based CPAs working with us fully focus on a range of corporations and businesses, with years of experience behind them. Featuring previous work with LLC’s, Partnerships of varying types, C Corporations and S Corporations, we can help minimize your tax expenditures and achieve maximum deductions regardless of business size.

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Financial statements

When it comes to tax preparation and returns, some business owners assume financial statements aren’t all that important. But the short answer is, they definitely are!

Regardless of whether you’re running a small, medium or large-scale business, we’ve never experienced a business able to run effectively without a legitimate balance sheet with corresponding income statement.

Having these items will not only allow you to instantly establish how profitable your business actually is, but also help you boost your profits in the future. And, when your tax deadline comes around, these statements will be necessary to complete a fully accurate return.

But, whilst these financial statements are usually a result of your accountant’s work, there will still be times they will need to be audited or reviews ready for bank/investor submission. However, if you do receive a review requirement, you can have full peace of mind we’ll take care of the entire process here at Mount Bonnell Advisors.

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Why are financial statements so important?          

Vital for an array of purposes, it’s likely you’ll need financial statements to successfully encourage venture capitalists or new investors to invest in your business. And, if you’re seeking to apply for credit or a bank loan, you’ll need to provide accurate financial statements for approval.

Preparing these statements is typically the responsibility of the business owner, but you may require some help. If so, we can be on-hand to not only make financial statements easier to interpret for you – but for potential new lenders or investors too.

Generally, there are two types of important financial statement that will be required:

Profit & loss statement

Most commonly known as a P&L, a profit and loss statement displays how a business has performed over a specific time period. This provides an accurate view of both sales and expenses, how much money was lost or earned. From this, monetary trends can be identified.

Balance sheet

Defined as an overview of your business equity, assets and liabilities, a balance sheet shows precisely what customers/clients owe you, how much cash is on-hand, how much debt you owe and how much value all owners have within the business.

At times, you may be required to have a CPA check over your P&L, balance sheet or other financial statements to confirm full accuracy. Typically, this is done if an outside entity asks to review your statements, and we’ll be available to ensure all paperwork is completed correctly – so you don’t have to be concerned.

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Limited Liability Company (LLC) income tax preparation

Known as a hybrid business entity, an LLC combines aspects of a company with aspects of a sole proprietorship.

The main advantage of this specific business structure is the elimination of the ‘double taxation’. This occurs when a company pays tax on its earnings, yet distributes these earnings to owners/employees – who also pay subsequent tax on these earnings.

Within an LLC, no corporate income taxes are paid by the entity itself. Instead, all profits are given directly to relevant owners which means this money is only taxed once.

With regard to the IRS, the majority of LLCs are treated as a sole partnership or proprietorship. This means both the company losses and income are typically reported separately by the business owners as part of their individual tax returns.

No matter the structure of your business, we’re able to assist with all LLC income tax filing and preparation – as many examples of tax-prep software will simply be unable to provide the degree of tailored service you’ll require.

Single member LLC

Due to being treated as a sole proprietorship, all tax obligations and income amounts should be reported on the owner’s personal income tax return. To ensure you still receive the business deductions you’re fully entitled to, we can help prepare your return in the most efficient way possible.

Able to prepare Schedule C for Business Income and Expenses as well as form 1040, we’ll also help prep the overall informational income tax return for the partnership. All completed documentation will then be submitted to the IRS.

Employee LLCs

If your LLC employs other people in addition to the registered owners, payroll will need to be included within your tax obligations.

We can help prepare all required payroll tax documentation including the calculation of tax deposits for specific payroll periods, or for both quarterly and yearly filed returns. And to reduce overall admin time, we can also prepare all necessary submissions too.

Better still, at the end of the fiscal year, we can prepare all W-2s or 1099s for all employees or contractors.

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Preparing corporate income tax

For a business to be incorporated as a legal entity, there’s likely to be many reasons behind it. A primary cause would be to effectively separate the company’s responsibility and obligations from the owners themselves, as a legally incorporated entity has specific rights and entitlements that often prove incredibly useful when running general business.

Due to our expertise in preparing corporate income tax, we’re able to efficiently prepare tax returns with premium accuracy. We’ve been responsible for helping multiple types of business entities, including both C and S corporations.

In addition to Federal Income Tax Returns for Corporations, we can also prepare State Payroll reports, State Franchise Tax Returns, State Sales Tax Returns, and State Income Tax Returns spanning all 50 states. So, regardless of where you’re based, we’re here to help.

As S corporations are typically businesses of a smaller size, the legal structure may combine the benefits of both an entrepreneur and a complete company. The incorporation is able to provide a protective measure over a business regarded as a sole partnership or proprietorship, and establishes the most appropriate tax treatment on an entity that simply wouldn’t exist in a typical C corporation.

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Tax planning 

In order to ensure you appropriately plan for when your tax payments are due, it’s absolutely crucial to make assessments of your tax obligations on a regular basis – even if they’re due relatively far in the future.

So, whether you’re the head of a large company with multiple streams of employees or own a small business with minimal staff, our experience will provide tailored advice to make sure you make sensible decisions throughout the entire year.

International taxation

Our expert knowledge spans a variety of fields including international taxation, foreign bank account reporting and voluntary disclosure. And due to our experience with many complicated jurisdictions, we’ll ensure premium preparation at all times.

Sales taxes

As many of our current clients are responsible for both collecting and submitting sales tax in a variety of different jurisdictions, we’re able to give your company all the help necessary in compiling relevant information and preparing sales tax returns with ease.

Payroll Taxes

As essential part of running a business with employees, we can assist in preparing all your payroll tax paperwork. In addition to calculating tax deposits for specific payroll periods, we can also help prepare quarterly or yearly-filed returns for smaller businesses. We also provide 1099 and/or W-2 forms for contractors or employees at the end of each year if necessary.

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FREQUENTLY ASKED QUESTIONS ABOUT TAXES, COMPANY FORMATION AND RESIDENCY IN THE USA (FAQS)

We’ve compiled over 150 of the most frequent questions and answers (FAQs) on tax, company formation, and residency in the U.S. in our knowledge base. You can visit our knowledge base here.

If you find that your personal questions have not been answered, book a telephone consultation here.

Book an Expert Consultation on Building Your Business in the US, US Taxes and Moving to the US

Need Advice on Taxation, Company Formation, and Residency in the United States?

Starting a business in the U.S. can be both exhilarating and exasperating. There is much to know and even more to learn, and the pace of the information coming at you can be overwhelming.

That’s where Mount Bonnell Advisors come in.

Would you like to live your very own American Dream? At Mount Bonnell, we can guide you through the labyrinth of regulation and red tape and out into the blue skies of a dream come true – the dream of living and working in America.

Whether it’s technical issues around tax or residency, or strategic ones involving business formation and growth, the experienced team at Mount Bonnell Advisors are here to help.

So make that dream a reality by booking a consultation today with Mount Bonnell Advisors. Let the adventure commence!

Book an Expert Consultation on Building Your Business in the US, US Taxes and Moving to the US