Business Tax Preparation

Business Taxes

Paying taxes is one of the ways businesses engage in their civic duty and contribute to a country’s socio-economic development. Unfortunately, business tax preparation is a complex process that requires compliance with numerous bureaucratic procedures. GO Admin Solutions is the best decision for small business tax services because we offer professionalism and quality services.

Our Services Help You Focus on Your Business

We at GO Admin Solutions offer professional business tax preparation services that present numerous benefits for businesses. These include:

  • Time management – Our tax pros engage in tax preparation and management, giving businesses more time for other activities.

What Do You Need to Prepare Business Taxes?

Business tax preparation is the first step conducted before filing and paying taxes by a business. The process requires firms to develop a checklist of items to help them gather all necessary information. A small business tax advisor would recommend that management present all information required for tax operation. 

Let’s explore the information required to prepare business taxes.

Last year’s Business Tax Return

The previous year’s business tax return offers a reference source for tax filing processes and requirements. Small businesses’ tax services require information such as finance tracking methods, tax ID information, business history, and corporation information. 

Articles of Incorporation

Businesses lacking the previous year’s business returns, startup businesses, and new corporations must present articles of incorporation. The document includes officers’ names and responsibilities, geographic location, and state of operation or incorporation. 

Partnership Agreement

Business tax preparation requires business partnership agreement details such as partnership history, monetary contributions, and percentages owned by business partners. 

Accounting Records

Tax preparation requires accounting records for income, expenditure, loss, and profit presented on an excel spreadsheet or accounting software. 

Bank Statements

For effective tax reporting, small business tax services need bank statements on income, expenses, deductions, cash balances, and cash transactions. 

Credit Card Statements

Businesses should record daily expenditures such as meals and gas within credit card statements to help calculate appropriate tax deductions. 

Payroll Reports

Tax services for businesses require accurate information on payroll and payroll tax expenses for federal and state payroll tax filings.

Detail of Asset Purchases

Small business tax services require tax reporting on asset purchase information, including costs, sales tax, service date, and use duration.

Depreciation Schedules

Although assets depreciate with continued use, information on asset depreciation includes cost, type, and service duration, which help develop tax returns. 

Detail of Asset Dispositions

Tax reporting requires details of asset disposition that include information on the type, sale date, and price of depreciated assets. 

Visit our website for more details on these steps, and leave the rest to us as we will ensure that your tax filings are up to date and competent.

Vehicle Information

You need to record mileage for personal and business drives completed by employees and partners with company vehicles for tax reporting.

Why Use GO Admin Solutions for Your Business Tax Preparation

Working with our tax professionals in business tax preparation benefits our clients in the following ways. 

  • Accuracy – Hiring a tax professional assures clients that business tax services will be highly accurate. Our professionals provide valid transactions and statements to avoid legal and tax liabilities. 
  •  Audit assistance – GO Admin Solutions includes small business tax services such as audit assistance to ensure tax regulatory authority compliance. 

Professional Business Tax Preparation Services

GO Admin Solutions offer diverse professional business tax preparation services, including;

  • Creation of professional profit and loss statements for effective financial and business performance evaluation.
  • Personalized tax support from specially trained tax experts.
  • Quarter payment services track and monitor business operations to ensure appropriate quarter tax payments. 

If you are a business searching for Tax Preparation Services in South West America, look no further than GO Admin Solutions. We are a community of experts committed to meeting all your finance, accounting, and human resource management service needs. Kindly contact us if you are a business operating in the South West regions such as Las Vegas, Arizona, and Nevada. 

Image Credit: Zenza Flarini /Shutterstock

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