Why Choose us?

For many business owners navigating tax preparation is a daunting task, but it’s important to avoid penalties and stay compliant with federal and state tax laws. Our accounting firm takes that burden off your shoulders and does all tax compliance work for you.

Our Focus: Business Tax Returns

Our firms caters to small business owners and we ensure these forms are filed accurately and on time, helping you stay compliant with both federal and state regulations. Here are the tax forms we are experts in:

Federal Forms

1. Form 1120S – Used by S Corporations to report income, deductions, and credits to the IRS. Accurate filing is crucial to avoid penalties.
2. Form 1065 – Partnerships must file this form to report the business’s income, deductions, and credits. It's important for ensuring the proper allocation of income to partners.
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 – Each shareholder of an S Corporation or partner in a partnership receives a K-1, which details their share of income, deductions, and distributions. This form is essential for personal tax filings.

California State Forms

1. Form 100S – The California version of Form 1120S, used to report income and tax liabilities for S Corporations at the state level.
2. Form 565 and 568 – Filed by California partnerships and MMLLCs report state income and determine tax obligations.
3. Form 100 – Used by C Corporations in California to report income and tax liabilities.
4. Estimated Tax Payments – Both S Corporations and C Corporations are required to make estimated tax payments in California, 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 due date is one months behind. If you need more time, you can request an extension, 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 penalty.

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 First time penalty abatement option, but the abatement is not always granted. California also has its own penalties for late filing. At our firm we send reminders to our clients about all important deadlines. Staying on top of these deadlines helps our clients save on extra costs.

Expertise You Can Trust

Business tax preparation can be intricate, but at our CPA firm, we handle all the details. Daria Nagal, CPA, has over 10 years of tax experience working exclusively with small business owners in the state of California. From filing forms to ensuring compliance with California and federal tax regulations, we deliver accurate and timely results.

Personalized Service

Every business is different, and so are its tax needs. We take the time to understand your specific situation, tailoring our services to meet your unique requirements. We are a boutique CPA firm and plan to stay that way. We are selective in taking on clients, which allows us to provide an individualized approach to our existing clients. Our personalized approach means you're not just a number to us—we work as your financial partner

At Daria Nagal CPA, we manage the full filing process for all these forms, ensuring your business remains compliant and avoids unnecessary penalties. Whether you're an S Corporation, partnership, or C Corporation, we provide reliable and timely tax preparation services tailored to your needs.