Helping little fish become big fish
Corporate taxes are due on March 15th every year—companies filing 1120s or 1065 fall in this category. If our client feels they aren't quite prepared for the deadlines, there is no need to panic. We can help you file for an extension. There is no penalty for filing for a six-month extension as long as you make your tax payments before the deadline. No matter the circumstance, Bluefin CPA has got your back.
Subchapter S 1120-s
Corporate taxes can be complicated and burdensome. We will prepare your returns with accuracy and assurance of being done without error. Don’t get caught up in the turmoil and frustration. Let us take care of everything while you focus on operating your business.
C-Corporation 1120
The C-Corporation 1120 tax return is a vital component of corporate taxation in the United States. we understand the complexities and nuances of corporate tax compliance. We're here to guide you through the process, ensuring accuracy and adherence to tax laws.
Amended Return 1120-x
Did you make a mistake on your corporate return? Rest assured. We will investigate the error and prepare all amended filings with an explanation. Our goal is to avoid unwanted audits and unfavorable mailings. Errors are the most common audit flag in corporate filings.
“S” Corporation
Form - 1120-S
If your business is considered a subchapter S, this means you're required to file an 1120-S. We prepare the tax return along with all Schedule K-1 for each member. Shareholders are required to report this on Schedule E on their personnel return. "S" Corporations are special elections filed with the IRS. They are not subject to corporate taxes but are treated as a partnership for tax purposes.
“C” Corporation
Form 1120
We usually refer to C Corporations as “Normal Entities.” They can be complicated, and consulting with an expert before moving forward is a great idea.
What is Tax Planning?
Gathering and investigating all items that will be reported on your tax return, then analyzing them to find ways to reduce your liability. All sources of income are considered along with deductions to determine the least amount of legal tax to be paid.
The following source documents are included in our planning strategies.
From start to finish, our team works through each line item to provide a prompt and accurate tax return.
- Wages and salary
- W2’s
- Investment Income
- 1099-DIV
- 1099-INT
- 1099-B
- Retirement income
- SSA-1099
- 1099-R
- Schedule E
- Rental Income
- Self-employment income
- 1099-NEC
- 1099-K
- Business Income
- K-1
- Itemized Deductions
- Medical expenses
- Real estate taxes
- Mortgage interest
- Charitable contributions
- Education Expenses
- 1099-Q
- 1098-T
Benefits of working with a tax professional
Bluefin CPA takes pride in offering the best service. One of the best benefits of working with a specialist is the absence of stress. Our tax preparer works one-on-one with clients to tackle the tax season.
In addition to stress, we also help find ways to utilize credits and deductions to help save you some money. The agencies create these opportunities to try and reduce your tax liability. Especially after the pandemic, tax laws and regulations have been consistently changing. With these changes, our team keeps up to date by further educating themselves as the laws progressively change over time.
E-filing
Are you trying to find the best software to file a return? We got you covered. We now offer E-filing through our software programs. With just a click of a button, you know your return is getting to the right place, saving you the hassle of worrying if your return will get lost in transit and guaranteeing a much faster refund.
Taking Action
With deadlines coming up, are you feeling overwhelmed? Well, forget the hassle. Bluefin CPA is here to help. Our team offers virtual appointments via Calendly, or you are welcome to visit us at the office. At every step of the process, you are guided by a specialist to ensure the most accurate and reliable fillings. Once we receive an inquiry, we will promptly connect you with an associate as soon as possible.
Do you need tax advice year-round?
Individuals with complicated returns or high net worth must make estimated quarterly payments. We highly recommend working with an expert year-round to help prepare statements to limit the chances of any surprises when filing your tax return.