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  • Writer's pictureJon

Business Tax Preparation at MyBuilderCPA



Hello, Jon Markee here, founder and CEO of MyBuilderCPA. Today, I want to discuss what’s included in our business tax return preparation service. Our goal is to provide a one-stop shop for all your accounting needs, from transaction entry and bookkeeping to financial reporting and tax preparation.

Comprehensive Tax Return Preparation

At MyBuilderCPA, we offer tax preparation services for various types of business entities, including:

  • Form 1120: Standard C corporations

  • Form 1120S: S corporations

  • Form 1065: Partnerships or multi-member LLCs

  • Form 1040 Schedule C: Sole proprietorships or single-member LLCs

Preventing Problems Before They Start

We view ourselves as problem preventers rather than problem fixers. This means we focus on filing your tax returns in an orderly, timely, and organized manner to keep you out of trouble. If you’re coming to us with years of unresolved tax issues, we might need to enlist a specialist to help, as solving complicated tax problems can be time-consuming and our schedule is built around routine maintenance.

Service Plan Differences

There are some differences in our tax preparation offerings based on the service plan you choose:

  • Tier 1 Pro Growth Plan: Fastest turnaround, with a goal of approximately one week from the time we receive all your documents to when you see the first draft of your tax return.

  • Tier 2 Accelerator Plan: Turnaround time of approximately two weeks.

  • Tier 3 Starter Plan: Turnaround time of approximately three weeks, though this is not guaranteed.

Planning and Reminders

To ensure a smooth tax preparation process, we send out automated reminders in the fourth quarter of the current year. These reminders check in on your current status, address any major open items, and outline the upcoming tax deadlines. We also handle 1099s, which must be delivered to recipients by January 31st. To meet this deadline, we need all W-9s by the end of the current year.

Tax Prep Timeline

  • Post-January 31st: Once 1099s are sent out, we start diving into your income tax prep.

  • February: For Tier 1 clients, our goal is to provide an initial draft of the tax return by mid-February, as business tax returns are typically due by March 15th.

  • March 15th Deadline: This is the deadline for most business tax returns, giving you another month before the April 15th individual tax deadline.

Ongoing Communication

Our approach emphasizes frequent communication to ensure you have clear expectations about deadlines. If any issues arise or if anything is unclear, we encourage you to reach out via email.

Importance of Year-Round Bookkeeping

Many people believe that tax preparation itself is the most challenging part of the process. However, if we are working with you throughout the year, maintaining up-to-date books and reconciliations, tax preparation becomes a straightforward task of pulling numbers from QuickBooks and inputting them into tax forms. Consistent bookkeeping throughout the year is crucial for a seamless tax season.

Conclusion

At MyBuilderCPA, our business tax preparation services are designed to keep your financials organized and ensure timely filing. By maintaining clear communication and emphasizing proactive bookkeeping, we aim to make the tax preparation process as smooth as possible.

If you have any questions or need further clarification about our services, please don’t hesitate to reach out. Thank you for considering MyBuilderCPA, and have a great day!

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