On the road to success, business owners face many challenges. Finding ways to drive value to customers through an innovative service offering is only one aspect of the puzzle. Attention also needs to be given to customer service, sales, marketing, and even the demands of human resources. This leaves little time for most business owners to contemplate their tax situation and consider what steps can be taken to maintain the most advantageous tax position possible. The complexity of tax code and the recent changes ushered in by the Tax Cuts and Jobs Act (tax reform) have left many unsure about their corporate and individual tax situation.
Our firm works with S-Corporations in a variety of industries across Chicago to help manage their planning, compliance, and reporting requirements. We help business owners make sense of tax reform changes as well as how to leverage new opportunities for savings such as the Qualified Business Income Deduction, as well as other incentives and opportunities. Beyond this, we have experience with multi-state taxes, outsourced accounting and bookkeeping, tax-deferred exchanges, and even representation before taxing authorities. In other words, Selden Fox has all the bases covered for your business when it comes to tax compliance and planning.
Our S-Corporation Tax Services Include:
- Tax Planning, compliance and research – including assistance with the Qualified Business Income Deduction (Section 199A)
- Corporate tax filings (IRS Form 1120-S and Schedule K-1s)
- Tax planning strategies to minimize the tax impact on shareholders
- Tax credits and incentives
- Tax deferred exchanges
- Multi-state tax planning
- Nexus determination
- Outsourced accounting and bookkeeping
- Quarterly tax preparation and filings
- IRS and state tax representation
The comprehensive changes to the tax code have left many questioning what opportunities are available and how to take advantage of them. If you are looking for assistance with your S-Corporation business taxes or have another tax concern, Selden Fox can help. For additional information call us at 630.954.1400 or click here to contact us. We look forward to helping you soon.