Whether you are a self-employed business owner with no employees or the owner of a multi-branch company with hundreds of employees in Tarpon Springs, you need the proper tax preparation services to stay on track. It can be easy to lose sight of finances in the presence of major contracts, new clients, daily business happenings, and more. The best thing you can do for your company is to ask for help when you need it. Without the assistance of a professional, your business may suffer from setbacks. Trust the team at BizBooks4U to take care of your taxes and accounting needs, and you will not have to worry about your finances!

Choosing the Right Tax Preparation Professional

You should choose a tax preparation service in Tarpon Springs that meets all your needs. At BizBooks4U, we know from personal experience that the best defense is a good offense. If you do not know what is going on in your business as far as the financial and accounting information goes, then you are setting yourself up for failure. In this case, ignorance is not bliss. Without staying on top of your bookkeeping, you risk your business going bankrupt or failing in other ways. To prevent this, schedule a visit with the professionals at BizBooks4U. We will help you take control of your company’s finances in a judgment-free zone

What to Bring to Your Meeting for Efficient Tax Preparation

If your Tarpon Springs business generates income, you will need to pay taxes. Your tax preparation specialist will need certain information to help prepare your taxes. What you need to bring will differ depending on the type of business. If you are a sole proprietorship & LLC, a partnership, an S corporation, or a C corporation, each requires different forms and information. A professional can help you sort out the difference and plan accordingly for your tax preparation consultation.

Partnership & LLC. You will need to complete an IRS Form 1040 (the same as you may use for individual filing), an IRS Form 1040 Schedule C (for business profits and losses), and an IRS Form 1040 Schedule SE (for self-employment taxes).
Partnership. Each partner needs to complete individual IRS Form 1040s and Schedule SEs. In addition, you each need to complete an IRS Form 1065/Schedule K to provide information about the profits and losses of the partnership in Tarpon Springs.
S Corporation. Each individual shareholder of an S Corporation must file an IRS Form 1120 S/Schedule K-1 that reports company profits and losses. Throughout the year, the company must periodically submit taxes using an IRS Form 8109.
C Corporation. To report profits and losses as well as claiming deductions and credits, the corporation must submit IRS Forms 1120-A and 1120-W. In addition, an IRS Form 941 will denote any income, Social Security, or Medicare taxes withheld from employee paychecks, and an IRS Form 940 to report Federal Unemployment Taxes. During the year, the corporation must submit taxes using an IRS Form 8109.

Documents to Bring

When you are preparing for your tax preparation consultation in Tarpon Springs, bring the following documents and materials with you.

Receipts, sales records, checking and savings account interest for the business, and other income documentation.
Documentation reporting the costs of goods, inventory, material and supplies, and purchases made relating to selling goods.
Information notating expenditure for marketing and advertising, expenses for transportation, technology (computers, phones, internet, etc.), and more.
Documentation of expenses including depreciation, business insurance, professional fees, employee wages, and more.

Choose BizBooks4U When You Need Tax Preparation Services

For businesses big and small in the Tarpon Springs area, trust the professionals at BizBooks4U to handle your tax preparation. Throughout the year, we can help you manage your finances and accounting. Whether you need assistance daily or just a few times a year, we can help. In addition, we will adapt our services to work with your company and your needs. To learn more about our affordable assistance, give us a call to schedule a consultation.

Reach out to us at (727) 939-1044 or contact us online to speak with a member of our team about tax preparation services in Tarpon Springs.