Tax Preparation Farmington Vicinity
Tax Preparation Farmington & Farmington Hills Area
Complex Tax Return’s
Schultz, CPA works with business owners, real estate investors, the high net worth and net income, trust beneficiaries and stock investors. Individuals who fall into these categories tend to have complex tax returns and tax issues. We have processed thousands of returns that require tax expertise. When you speak with a staff member about your complex tax issue, you will find that they have worked previously with clientele who have certain issues as yours. The Schultz CPA staff typically does not have to reinvent the wheel when a client comes in with a new issue for themselves.
Business Tax Preparation Farmington Hills Vicinity
Schultz & Associates, CPA works with many business owners located in Farmington and Farmington Hills, Michigan. We often go right to the clients place of business to bring their accounting and bookkeeping records up to date. Our clients do not revolve around any one industry. Currently we service the following industries:
- Non Profit Organization
- Retail Store
Some of the businesses that we have worked were once start–up companies. These start–up’s first started with basic accounting and tax services, but and they grew and their needs changed Schultz, CPA was able to adjust. No matter the revenue of the company, the size of the staff or the number of location, Schultz CPA is capable to providing timely and accurate service.
Non-Profit Accounting, Tax Preparation and Auditing
Tax returns for exempt organization are very complex. The Form 990 or Form 990EZ should be filed annually regardless whether the IRS regulations require it. It is an important function and will keep your organization in compliance. It is important to know what the laws are in the state of Michigan to determine if any reporting in addition to the tax return is necessary. Organization who engagement in fundraising activities in Michigan must also report to the State Attorney General. Depending on the annual revenue of the organization, a financial statement audit may be required. Schultz, CPA can help with your tax preparation needs, and your financial statement needs.
Farmington and Farmington Hills is home to many professional practices. Dentists, physicians, lawyers, accountants, and physiologists, all have similar characteristics from a tax and accounting standpoint. Professional practices carry the moniker of PC, PLC or PLLC. Being aware of how the professional practice is taxed is very important.
How is the Professional Practice Taxed
Professional Corporation (PC)
Entities formed as Professional Corporations (PC) are corporations. For federal income tax purposes is it considered a Personal Service Corporation (PSC). Professional Corporation’s who choose to file Form 1120 pay a flat tax of 35% on the corporations net income.
Tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used for the purpose of (i) avoiding tax related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.