The return your business files depends on how it is set up with the IRS, not only on what it is called. A single-member LLC, a multi-member LLC taxed as a partnership and an LLC that elected S corporation status all file different returns on different dates. We make sure the right return is filed, on time, with numbers that match your books.
Business returns are easier and cheaper when the bookkeeping behind them is clean. If your records need work, we can handle that as well, so your tax return is built on figures you can trust.
Business tax services
S corporations (Form 1120-S)
Preparation of the corporate return and the shareholder K-1s, including the owner payroll and reasonable compensation questions that come with an S corporation.
Partnerships and multi-member LLCs (Form 1065)
The partnership return, K-1s for each partner or member, and the capital account records that support them.
C corporations (Form 1120)
Corporate income tax returns, including estimated tax payments and state filings.
Sole proprietors and single-member LLCs (Schedule C)
Business income and expenses reported on your personal return, with estimated taxes and self-employment tax planned for.
What is included
- Preparation of the federal return that matches how your business is taxed, and the related state returns
- Review of your income and expenses for missed deductions and for items that should not be deducted
- Owner and shareholder K-1s where they apply
- Extensions (Form 7004) when you need more time to file
- Estimated tax calculations so quarterly payments are not a guess
- Electronic filing and a full copy of the return for your records
Due dates to know
For a business on a calendar year, S corporation and partnership returns are generally due on March 15 and C corporation returns on April 15. Filing an extension gives more time to file but not more time to pay any tax owed. State deadlines, including Texas franchise tax, are separate. Because dates move when they fall on a weekend or holiday, we confirm the exact date for your return each year.
Choosing how your business is taxed
Many owners start as a sole proprietor or a single-member LLC and later ask whether an S corporation would save tax. It can, but it also adds payroll, a separate return and rules about owner pay, so it is not right for every business. We can walk through your numbers and tell you honestly whether it makes sense now, or later. See our S corporation election page for how the election works.
How it works
- 1
We review how your business is set up
We confirm the entity type, how it is taxed, which states you file in and what was filed last year.
- 2
You send your records
Upload your books or bank and card statements to the secure client portal. If your books need cleanup, we tell you before we start.
- 3
We prepare and review the return
We prepare the return, reconcile it to your records and explain the result, including any tax due and how to plan for it.
- 4
You approve and we file
After your approval we file electronically and keep a copy in your portal.
What we need from you
- Business name, entity type, EIN and state of formation
- Profit and loss statement and balance sheet, or bank and credit card statements for the year
- Payroll reports and Forms 941 and W-2 if you have employees
- Forms 1099 you issued and received
- Loan statements, asset purchases and sale records
- Owner and partner details: names, ownership percentages, capital contributions and distributions
- Last year's business tax return, if we did not prepare it
- Any IRS or state notices received during the year
Not sure what applies to you? Send what you have and we will tell you what is missing.
Why work with BUTA Tax
- Tax preparation, bookkeeping, payroll, business formation and IRS help in one firm, so your records line up.
- A secure client portal for your documents and messages, available whenever you need it.
- Starting prices shown on this site and the questions that set your final price asked before you pay.
- An office in Frisco, Texas, and online service for clients across the United States.
Frequently asked questions
Do you prepare S corporation returns?
Yes. We prepare Form 1120-S and the shareholder K-1s, and we can also help with the owner payroll that most S corporations need.
What is the difference between an LLC and an S corporation for tax?
An LLC is a legal structure, and the IRS taxes it as a sole proprietorship, partnership or corporation depending on how it is set up. An S corporation is a tax classification that an LLC or corporation can elect. The tax result depends on your profit and on whether you pay yourself a reasonable salary, so the right answer is specific to your numbers.
How much does a business tax return cost?
It depends on the return type and how complex the business is. The price starts with a base fee, with additions such as the number of partners or shareholders and gross revenue. You see the starting price on this page and the questions that set your final price when you start an order, before you pay.
Can you handle my business tax extension?
Yes. We file the extension (Form 7004) for business returns. It extends the time to file, not the time to pay, so we also estimate any tax due.
My bookkeeping is a mess. Can you still file my return?
Often yes, but a return is only as accurate as the records behind it. We will tell you what is missing and quote the cleanup work separately, so you know the full cost before we start.
Do you also file my state returns?
We prepare the state returns that go with your federal return, and we can help with Texas franchise tax. See our franchise tax page for what that involves.