Sole Proprietor or Single Member LLC (SMLLC) Tax Preparation

small business tax preparationStarting a small business is a very exciting endeavor that comes with its own challenges. Most business owners have an extreme passion for what they do but are unable to meet the administrative demands of running their own business. It is essential that proper record keeping of income and deduction, tax and retirement planning, and the small business tax preparation of annual tax filings is handled effectively and timely.

Gallati Professional Services (GPS) has the knowledge and experience to guide your small business towards financial compliance.

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

LLC’s with Your Spouse

If your LLC was formed with your spouse, you are unable to report your LLC on your personal tax return and you are required to file a separate partnership tax return (Form 1065) unless you live in a community property state (AZ, CA, IS, LA, NV, NM, TX, WA, WI). If you do not live in one of these states and you have a LLC with your spouse, please click on the link below to learn more about our corporate and partnership services: Corporate and Partnership Services

Small Business Tax Preparation

If you are a sole proprietor or a single-member LLC, your small business transactions will be reported on Schedule C of your personal tax return. Our fee for this small business tax preparation is typically $400 to $1,200 depending on the complexity of your non-schedule C items, the organization of your record keeping/bookkeeping, and if you use our simple, fillable PDF tax organizers. Although the above fee range includes one state tax return, the small business tax preparation fee of additional states is $75 per state tax return ($100 for CA & NY state tax returns).

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 small business tax preparation includes the following services:

  • Annual personal federal tax return (Form 1040) with all required forms & schedules
  • Annual personal state(s) tax return with all required forms & schedules
  • Married Filing Joint versus Married Filing Separate Analysis, if applicable
  • Home office and mileage deduction, if applicable
  • Calculating maximum SEP IRA or retirement contributions and tax savings, if applicable
  • Deducting accountable plan reimbursements (such as SE health insurance)
  • Calculation of your safe harbor quarterly estimated tax payments
  • E-filing
  • One (1) year-end tax planning projection to eliminate surprises on April 15th
  • Full year, 24/7 access to your online document storage through your private small business tax preparation portal for your tax documents
  • Use of mobile app for uploading picture documents to your 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

Tax Services

Business Consulting

Business Consulting

Just like in raising a child, it takes a village to grow your business into a successful enterprise. Gallati Professional Tax Services provides various tax and business management consulting services to help you make the right decisions about growing...
Corporate & Partnership Tax Preparation

Corporate & Partnership Tax Preparation

Federal 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...
Estate, Trust, & Gift Tax Preparation

Estate, Trust, & Gift Tax Preparation

Often, you will find that you’ve become a trustee or an executor of an estate without preparation or during a stressful life event, like the death of a loved one.We’re here to help you understand the importance of estate tax preparation, how the tax...

Payroll Services

If you're interested in learning more about payroll services through ADP, please contact us !
Personal Financial Planning

Personal Financial Planning

This personal tax service program supports clients who are serious about taking control of their personal finances. GPS will review your current personal assets and liabilities to help you set up a budget and pay down debt, save for retirement, save for...
Personal Tax Preparation​

Personal Tax Preparation​

Personal tax preparation can be a massive undertaking which can feel like endless hours of finding, sorting, and matching documents to records. The U.S. tax code can be complex and difficult to understand and to accurately submit your return, you'll n...
Small Business Service Packages

Small Business Service Packages

There are often times when a business owner does not want to worry about their business finances and personal taxes and focus on their passion. The following professional tax services provide a business owner the piece of mind and the predictable cost...
Sole Proprietor or Single Member LLC (SMLLC) Tax Preparation

Sole Proprietor or Single Member LLC (SMLLC) Tax Preparation

Starting a small business is a very exciting endeavor that comes with its own challenges. Most business owners have an extreme passion for what they do but are unable to meet the administrative demands of running their own business. It is essential that...
Tax Planning

Tax Planning

Tax planning is the key to successfully and legally reducing your tax liability. By making tax planning part of your yearly strategy, you can use our experience and access to the most current new developments in the tax laws. We help you customize the...
Tax Representation

Tax Representation

Getting news of an audit sounds like your worst nightmare. It’s difficult on many levels. It takes a tremendous amount of time (that you probably don’t have to spare) to gather all the records and documents necessary. And, of course, it’s stressful. Beyon...
Virtual Bookkeeping

Virtual Bookkeeping

Is your accounting in a shoebox? Do you know if you’re making money? Are you tired of giving up nights and weekends to do your small business accounting and bookkeeping?If you would like to spend more time doing the business you love and less time d...