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Business Tax Preparation

Professional Business Tax Preparation in Savannah

close up of financial chartsTax preparation is one of the most significant aspects of running a business. If done right, you'll benefit from various deductions, credits, and exemptions. Sadowski & Company CPAs have a wealth of experience in this field. We combine financial skills with practical knowledge and education to provide customized solutions.

Our primary objective is to ensure you pay the least amount of tax and keep your profits whenever possible. With locations in Savannah, GA, Bluffton, SC, and Fernandina Beach, FL, we can deliver reliable tax preparation and related services to your business. Contact us to schedule a consultation today!

Call Us: (912) 232-2211 Book a Consultation

How Professional Tax Preparation Can Help Your Business

view of business team in officeBecause our specialists understand the tax code, we'll file your returns accurately and on time. You won't waste time trying to understand complicated forms such as IRS 1040 and Schedule C. Our expertise can reduce or eliminate filing errors. We also help you identify the credits and exemptions you qualify for, which may be missed if you're not current on all changes.

Professional tax preparation gives you peace of mind not just during tax season but for the entire year. You can focus on your business safe in the knowledge that your taxes are in order. In addition to our deep understanding of the federal tax code, our specialists are up to date with state and local tax laws. You can reap the benefits of our tax preparation skills, whether you have a startup or a small, midsize, or large company.

The Importance of Entity Selection

Various factors determine the exact type of business entity you'll select. Points of consideration include the extent of personal liability, how tax payments will impact your finances, and whether the entity can meet your needs. Our team can help determine which structure will give you the flexibility to pursue other opportunities and the costs of forming and running it. These entities include:

  1. Sole Proprietorship: This entity is the most popular due to its flexibility and low legal threshold. As a sole proprietor, you'll report your income and expenses through personal tax returns, specifically Schedule C Form 1040. You're also required to submit self-employment taxes in the form of Medicare and Social Security.
  2. Partnerships: General partnerships don't pay tax. Instead, each partner is liable, depending on the income they earn. One advantage is that you can deduct some business losses on your returns. It also helps you reduce estate and gift taxes. Limited partnerships (LP) and limited liability partnerships (LLP) also have unique tax benefits.
  3. C Corporation: These entities pay taxes on profits earned through the shareholder's tax returns. As a shareholder, you're not liable for the corporation's debts. Although you won't pay direct tax on its income, you'll do so indirectly if you receive dividends. C Corporations are separate entities from the people who own the business.
  4. S Corporation: Apart from allowing only one class of shares, it doesn't allow more than 100 shareholders. Shareholders submit tax based on corporate income, whether in dividends, property, or cash. Other features, such as estate planning and liability protection, are like those of C Corporations.
  5. Limited Liability Company (LLC): LLCs allow owners to enjoy liability protection while giving them flexible tax payment options. This entity can choose to submit taxes as a single-member LLC, corporation, or partnership. Our CPAs will help you determine the most tax-effective option for your business.

Small Business Payroll Taxes

You'll run your business more smoothly if your payroll accounting is accurate and always up to date. We can break down each employee's compensation and the amount withheld for income, Medicare, and social security taxes. Our payroll services help you avoid IRS penalties while streamlining your business operations.

More Services to Support Effective Tax Preparation

Our firm offers financial solutions for all types of businesses, ranging from tiny startups to large corporations. We create customized solutions aimed at achieving your long-term business objectives. To improve efficiency, we offer the following additional services besides tax preparation:

Tax planning: We'll identify the best strategies to reduce your tax obligations.

Business services: They include payroll services, bookkeeping, and QuickBooks management.

Audits and reviews: We'll help you identify areas in need and create solutions to correct problems and protect future profits.

Business consulting: A strategic business plan helps you set objectives while attracting investors and prepare for the future.

Outsourced CFO services: If your company is growing but not yet ready to hire an in-house CFO, our specialist can assist with higher-level planning and operations.

Acquisition services: As your company expands, we'll guide you through the complex world of mergers and acquisitions. We'll help you comply with state and federal regulations and get the best deal possible.

Savannah Business Tax Preparation to Support Your Success

business people looking at laptop screenAt Sadowski & Company, we have the solutions to your business tax questions. Our specialists perform three levels of compliance checks on our side to ensure accuracy and regulatory compliance. We commit our accounting expertise and experience to help you realize your long-term business goals. Schedule your consultation today to discover more about our comprehensive Savannah, GA, tax services!

Call Us: (912) 232-2211 Book a Consultation

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