Corporate & Partnership Tax Preparation

small business tax preparationFederal and state tax laws are a revolving door, and with regulations constantly in flux, corporations and partnerships are at an increased risk of noncompliance. Gallati Professional Services (GPS) offers a full complement of corporate and small business tax preparation and planning services for privately held companies, including S Corporations, closely held companies, limited liability companies, limited liability partnerships, and general partnerships. Our service delivery model focuses on compliance as we help you identify and pursue opportunities to minimize your tax liability and manage your tax risk.

Our proactive approach emphasizes the application of practical tax strategies to improve your bottom line now and best position your business for future growth. We put our knowledge, experience, and resources to work for you.

GPS specializes in the following industries:

  • Artists
  • Athletes
  • Attorneys
  • Consulting
  • Dentists
  • Equine Industry (Stables & Breeding)
  • Financial Services
  • Freelancers & Independent Contractors
  • Media & Advertising
  • Online Services
  • Physicians
  • Real Estate
  • Software & Technology

Corporate and Small Business Tax Preparation

The typical fee range for partnership (Form 1065) and corporate (Form 1120 & 1120S) tax returns is $600 to $1,250 depending on the organization of your record keeping/bookkeeping, and the past accuracy of your balance sheet. Although the above fee range includes one state tax return, the corporate or small business preparation of additional states is $100 per state tax return ($150 for CA & NY state tax returns). We do provide reduced tax corporate or small business preparation fees of $400 to $600 for extremely simple corporate/partnership tax returns or for ‘no activity’ filings. Please contact us if you think this might be your situation.

GPS offers a basic guarantee that if we are responsible for a mistake on your tax return, we will fix the issue without charge and pay any penalties associated with the mistake as long as we are notified immediately (taxpayer is responsible for any tax and interest due).

The cost of your corporate or small business tax preparation includes the following services:

  • Annual corporate/partnership federal tax return (Form 1040) with all required forms & schedules
  • Annual corporate/partnership state(s) tax return with all required forms & schedules
  • Tracking of basis for partnership & S-corp partners/members who use our personal tax return preparation services.
  • E-filing
  • Full year, 24/7 access to your online document storage through your private portal for your tax documents
  • Use of mobile app for uploading picture documents to your corporate or small business tax preparation portal
  • Reduced rate for research regarding your complex tax questions
  • Reduced rate for IRS & State notice and audit support
  • Full year phone & email support throughout the year for your tax and business questions

Need more than just a tax return prepared? Please see our Accounting, Tax & Business Consulting Packages

Tracking Basis

Partnership and S Corporation partners/members must also keep track of their basis or investment in the business for future sales or loss deductions. If you do not keep track of your basis, your capital gains or loss when you go to sell your business becomes a headache to solve!

Prior Year Accounting & Tax Prep

If you need prior year accounting plus a corporate/partnership tax return, we typically offer a discount for those combined services. Depending on the number of transactions and the overall complexity of the accounting, we offer a fee range of $1,600 to $2,200 which includes the corporate or small business tax preparation. Additional factors that are considered are number of bank accounts, credit cards, personal versus business use of funds, and how quickly we can translate the statements into accounting records. Please contact us for more information.

Rush Fee

S-Corp & partnership returns received between February 27th and March 15th, and between August 28th and September 15th will be assessed a 25% rush fee.

C-Corp returns received between April 1st and April 18th and between August 28th and September 15th will be assessed a 25% rush fee.

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