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Business Tax Preparation – Tax Preparation Tips for Small Businesses

When it comes to business tax preparation, as a small business owner, it pays to be ahead of the game. As a small business owner, when tax season rolls around once more, it’s vital that you have everything well and truly in order, well in advance. Running a small business is hard enough as it is, without you having to essentially take on a new role as the company accountant when handling your business tax preparation needs. Whether you have to dig out old receipts, or go through the last several months’ worth of books and bank statements, getting your business tax preparation in order is far from simple. Ideally you will want to hire our professional tax services to take care of things for you (more on that later) but if you do decide to try to tackle your numbers yourself, there are some things you need to know. Here’s a look at some important business tax preparation tips for small businesses, corporations 1120, partnerships and LLCs 1065.

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Ensure you are fully organized – When it comes to your business taxes, you can never, ever be organized enough so just bear that in mind. Organization can literally be the difference between success and failure regarding your business taxes, so get everything in order. Have a proper filing system in place, label it properly, file everything correctly, keep receipts and business expenses, and make sure you can access whatever you need as soon as possible. Keep invoices on the same system and in the same format and again, make sure the info on there (name, date, services provided etc) is all correct to the best of your knowledge. We provide our clients with a tax organizer, deduction finder, to help you gather all your income and expenses to legally minimize your taxes for corporations 1120, partnerships and LLCs 1065.

File as you go – A lot of small business owners unfortunately make the mistake of putting their taxes off until the last minute and try to take care of everything in one go. Yes, we know that it is a pain in the rear-end, but ideally you should file as you go when taking care of your business tax preparation. Log any expenses incurred into your chosen system as soon as you possibly can. If for example, you have been away on a business trip and have incurred travel and accommodation expenses, make sure you log these expenses into your accounting system the very second you get chance to do so.

Hire professional tax services – This is perhaps the most important tip of all, yet you would be amazed by just how many people fail to take advantage of it. Rather than spending hours, days, even weeks, going through books and accounts, trying to make sense of numbers you logged months ago, it would be far more efficient to simply hire our professional tax experts to handle your business tax preparation needs for your corporations 1120, partnerships and LLCs 1065. Our professional tax experts use the latest software, they are experienced, they deal with businesses like yours on a weekly basis, and they can help save you money and help you to avoid incurring expensive penalties and unnecessary fines.

Use deductions to your advantage – In this instance, certain tax rules can actually work to your advantage. Deductions are incentives offered by the government to get your business to spend money. However, often what the government wants you spend your money on are things that your business needs anyways, I.E paper for the printer, ink cartridges, fuel for your car, and so on. By hiring our business tax preparation experts, you can take advantage of these deductions as the tax experts will help you to make the absolute most of your deductions for corporations 1120, partnerships and LLCs 1065.

Get a free 10 minutes evaluation by calling us at 877-788-2937.

Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized business tax preparation boutique firm serving individual and business corporations 1120, partnerships and LLCs 1065 in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.

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Business tax preparation help for corporations 1120, partnerships and LLCs 1065 throughout Southern California including Whittier, Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Newport Beach, Irvine, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley, Ventura county, and the San Gabriel Valley.

Client Reviews
Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike! April S.
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him! Joe and Deborah V.
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation! Marcie R.
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied! Marshall W.
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends. Nancy & Sal V.
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