Small Business Tax

It depends on your net business income and the value you place on payroll administration. The rule of thumb: once net income reliably clears roughly $60,000–$80,000 and stays there, the self-employment tax savings from S-Corp status usually justify the added compliance overhead (payroll, Form 1120-S, reasonable comp analysis). Below that level, the administrative cost usually eats the benefit. This is exactly the kind of analysis handled during the free consultation — with real numbers, not a generic rule.

The IRS requires S-Corp shareholder-employees to pay themselves a reasonable salary before taking distributions. "Reasonable" means what someone with your role, experience, and responsibility would earn in the open market for similar work. Getting this wrong is a common audit trigger. I determine reasonable compensation using published compensation data, role analysis, and documentation that can be defended if questioned — not a guess.

If you expect to owe at least $1,000 in tax for the year after withholding, yes. For most small business owners the answer is yes. Missing quarterly estimates triggers an underpayment penalty even if you pay the full balance by April 15. Quarterly projections and payment reminders are built into every small business engagement.

In most cases yes, though cleanup time gets quoted separately. If your books are in QuickBooks, Xero, or a spreadsheet, I can work with any of them. If they don't exist, I'll either rebuild the year from bank statements and receipts or refer you to a bookkeeper to get current before filing. Either way, you'll get a clear picture before any work starts so there are no surprises.

S-Corp (1120-S) and partnership (1065) returns are due March 15 — one month earlier than personal returns. Missing the deadline for these entity returns triggers a per-shareholder or per-partner monthly penalty of $245, which adds up fast. Extensions can be filed to October 15, but the underlying tax (if any) is still due with the original filing.

Multi-state business filings are routine. You may have a filing requirement in any state where you have nexus — physical presence, employees, property, or economic activity over certain thresholds. Each state is evaluated individually during the engagement and filings are completed in sequence so you're compliant everywhere without duplicate taxation.

No — I focus on tax preparation, planning, and compliance so that's what you get the highest quality of. If you need payroll or bookkeeping, I can refer you to trusted providers and coordinate directly with them so the data flowing into your return is clean.

International small business tax is a specialty area. Form 5472 (foreign-owned U.S. entities), Form 5471 (U.S. ownership of foreign corporations), GILTI reporting, and treaty-based positions are all handled directly. See the Form 5471 and Foreign-Owned U.S. Business pages.