Why Choose Us?

• In short: we will help you avoid costly mistakes, prevent penalties, and eliminate accounting stress.

Our Focus: Business Tax Returns

We cater to small business owners making sure that their business tax returns are filed accurately and on time. Our expertise covers essential federal and California tax forms:

Federal Business Forms:

1. Form 1120-S – Used by S-Corporations to report income, deductions, and credits to the IRS.
2. Form 1065 – Partnerships must file this form to report the business’s income, deductions, and credits.
3. Form 1120 – This form is filed by C Corporations to report income and calculate tax liabilities at the corporate level.
4. Schedule K-1 –Provides shareholders/partners with information on their share of income and deductions that go on their personal return.

California State Forms:

1. Form 100S – California’s version of Form 1120-S for S Corporations.
2. Form 565 and 568 – For California partnerships and MMLLCs to report their income and taxes to the state.
3. Form 100 – Used by C Corporations in California to report state taxes.
4. Estimated Tax Payments – S and C Corporations in California must make estimated payments, including the $800 minimum franchise tax.

We are also very well versed in individual tax returns (forms Federal 1040 and California 540) and prepare them for our business clients as well.

Stay Ahead of Filing Deadlines

S-Corporations and partnerships must file their federal tax returns by March 15 each year. C Corps are a month behind. If you need more time, we can request an extension on your behalf, which gives additional six months to file the return. Remember, this extension only applies to filing, not to paying any taxes owed. If you don't extend your return and file your tax returns later, you will be subject to the late filing penalties.

For 2023 tax year, the federal penalty for S Corp's late filing is $235 per month per shareholder, up to 12 months. This means that if the S-Corp has two shareholders, the penalties will double, if it has three - the penalties will triple. Of course, the IRS offers the first time penalty abatement option, but the abatement is not always granted. California also has its own penalties for late filing. Our firm sends deadline reminders to help you stay on track and avoid costly penalties.

Expertise You Can Trust

Preparation of business tax returns is complex, but at our CPA firm, we handle all the work. Daria Nagal, CPA, has over 10 years of tax experience working exclusively with small business owners in the state of California.

Personalized Service

Every business is unique, and so are its tax needs. We are a boutique CPA firm and we plan to stay that way. We are selective in taking on clients, which allows us to provide an individualized approach to the clients we serve. Our personalized approach means you're not just a number to us—we work as your financial partner.

• Contact us now to schedule your free consultation and discover how we can help you with your tax preparation needs.