Filing Corporation Returns
Every business entity is required to file its tax return. corporation returns can be understood as an annual statement of profits earned by the business and tax calculation on that profit. Different types of business entities are taxed differently. This difference can be in rates, deductions, or manner of computation.
Filing corporation returns is not an easy job- you must know the taxation laws and latest amendments. With less or inappropriate knowledge, you might face difficulties. So, let EZCorporates take care of all your tax filing needs.
Computation and tax planning
The process of computing the income as per the federal tax laws is not everyone’s cup of tea. Therefore, it is better to take expert assistance. EZCorporates is there to help you with this.
- We will take care of the computation of income, deductions your business is eligible for, tax planning, and provide investment advisory to save your taxes.
- As a businessman, you might not be aware of the various provisions of the law. And how to save your taxes, but availing the deductions, we will try to reduce your taxes legally.
- When you subscribe to our services, we ensure that you get the benefit of all deductions available to you, along with the business expenses.
Advance payment of tax: Corporations are required to pay estimated corporate income tax throughout the year.
- The team of EZCorporates will make sure that you do not have to pay any penalties or interest due to underpayment.
- When you hire us, we will remind you about due dates and compute the tax liabilities. The computation is a percentage base depending upon your overall tax liability.
Forms and shareholders liability: There are various forms for different entities. You have to file your return in the form specified for corporations. There is a prescription of separate forms for S-corporations and C-corporations. Along with the forms, the computation method of tax liability also varies for both types of entities. Not only the business but even the shareholders will file their returns depending on the type of entity. Because both S and C corporations pay their taxes differently, the liability of shareholders also changes.
These forms require detailed information, so to be accurate, it is better to take expert assistance. EZCorporates has a professional and qualified team who are experts in taxation and corporation returns; you do not have to worry about understanding the provisions of the law.
Why EZCorporates?
We provide solutions to all your tax-related queries, be it return filing, tax planning, investment advisory, etc.
Tax planning: At EZCorporates, we work towards filing your tax returns and also plan your taxes. Once you take our services, our experts will guide you on saving your taxes legally.
We will do the procedures: Along with this, we take care of all the procedural parts like which form is to be filed, how the income has to be computed, filing due dates, payment reminders, etc.
Computation of income: Which business expenses are to be allowed, what deductions are available to your business- we will look after all such aspects. Investment advice so that you become eligible to avail certain deductions.
Reminders and information: Once you subscribe to EZCorporates, you will never forget any deadlines. Be it advance tax payments or return filing due dates- we will ensure everything is on time. Everything will be informed to you, including your total income, tax liability, payments, and due date reminders.
FAQs
Is it mandatory to file a tax return?
Yes. For business entities like C-corporation and S-corporation, it is mandatory to file a tax return annually.
Can I file my tax return myself?
Legally yes, you can file your returns. But to understand and comply with the provisions of law is not easy. Also, knowing eligible deductions, tax planning, forms, due dates, tax rates, and many such aspects is essential. It is advisable to hire a professional to file returns correctly and accurately.
For expert help, feel free to connect with us via phone/email.
Do I need to pay tax annually?
It depends on your corporation. C-corporation is required to file tax throughout the year as a percentage of overall tax liability. Tax liability for S-corporations is different.
Does a corporation need to pay tax on profits for distribution?
Yes. C-corporations need to pay tax on dividends also. It can be taken as double taxation. But S-corporation is not required to pay such corporate tax.
Can we amend filed tax returns?
If you let us serve you, then there are fewer chances that your return is inaccurate. But even if it is we can amend it. EZCorporates is there with you for all your requirements.
Do I need EIN to file tax returns?
Yes, EIN is mandatory for filing tax returns. As it is your tax identification number, the authorities recognize your entity with EIN only. IF you don’t have one, EZCorporates will help you in this also. You can subscribe to our services and we will process your application to get an EIN.