USIP ACCOUNTING / Business Tax
Business tax returns
Federal and state annual returns for LLCs, S corporations, C corporations and partnerships, with K-1s and shareholder records.
01 / WHO IT IS FOR
Who this is for
Single- and multi-member LLCs, S corporations, C corporations and partnerships across the U.S., and owners choosing between S-corp and C-corp tax treatment.
02 / WHAT’S INCLUDED
What’s included
- Federal Forms 1120, 1120-S or 1065 and state returns.
- Shareholder K-1s, shareholder loans, distributions/draws and basis records.
- Year-end review of the balance sheet, P&L, fixed assets and depreciation.
- Organizing and reviewing common business deductions.
- Explaining S-corp vs C-corp tax structures.
- Coordination with bookkeeping, payroll and the owner’s individual return.
03 / PROCESS
How it works
- 01
Discuss the business
Entity type, states, tax year and how current the books are.
- 02
Receive the checklist
We send the business tax preparation checklist.
- 03
Share records
Provide statements or share QuickBooks / Xero access.
- 04
Preparation and review
We resolve bookkeeping questions, prepare returns and review them with you.
- 05
Sign and file
After approval we file and provide shareholder K-1s.
04 / DOCUMENT CHECKLIST
What to prepare
- Articles and operating agreement / bylaws
- EIN
- State registration and annual report / Statement of Information
- Prior-year federal (1120 / 1120-S / 1065) and state returns
- Balance sheet at 12/31 and full-year profit & loss
- Year-end statements for all business bank and credit-card accounts
- QuickBooks or Xero access (recommended)
- Employee W-2/W-3 summaries and contractor 1099-NEC records
- Rent, travel and meals, advertising and professional fee records
- Receipts for computers, furniture, vehicles and other fixed assets
- Shareholders, ownership %, draws/distributions and shareholder loans
- Inventory (e-commerce/retail), sales-tax filings and home-office details
Prepare only what applies to you. Share SSNs, IDs and bank details through the agreed secure method, not in a first email.
FAQ
Frequently asked questions
Can both S-corps and C-corps hire W-2 employees?
Yes. Both can employ W-2 staff and pay owners who work in the business; the differences are mainly shareholder eligibility and how profits are taxed.
My books aren’t finished. Can you still file?
Tell us where the books stand; catch-up bookkeeping can be arranged alongside the return.
Scope notes
This page does not offer audit or assurance services; bookkeeping and filing scope are confirmed per engagement.
Website content is general educational information, not tax, legal or investment advice for your situation.
LET’S TALK / USIP ACCOUNTING
Let’s make your
next step clearer.
Tell us what you need help with. We’ll discuss your needs before confirming a service plan.
City of Industry, CA 91748
Please do not attach sensitive personal or financial information to an initial email.
General educational information only; not tax, legal or investment advice. Service scope and engagement arrangements are confirmed directly with the firm. Information on this website does not replace advice tailored to your circumstances.