Business Tax Return Preparation
Federal business tax return preparation for partnerships, S corporations and C corporations, with scope based on the entity's federal tax classification, ownership structure and available accounting records.
If the books are not tax-ready, bookkeeping work can be scoped before the return is prepared.
Partnership
Federal partnership return
S Corporation
Return for entities with a valid S corporation election
C Corporation
Federal corporate income tax return
Business return types
The federal return a business files depends on its tax classification and any applicable elections. The three return types below cover the business filings supported through this service.
Partnership
Partnerships generally file Form 1065 to report the partnership's income, gains, losses, deductions and other relevant tax items.
The return generally allocates relevant items to partners through Schedule K-1 for reporting on their applicable returns.
S Corporation
Form 1120-S is generally used by eligible corporations and other entities that have a valid S corporation election.
The return reports relevant business tax items, with shareholder information generally provided through Schedule K-1 subject to applicable tax rules.
C Corporation
Domestic corporations taxed as C corporations generally file Form 1120 to report corporate income, deductions, gains, losses and other information required for the return.
A C corporation is generally subject to federal income tax at the corporate level, which distinguishes its federal tax treatment from partnership and S corporation filings.
What tax return does an LLC file?
An LLC does not have one universal federal income-tax return. Its filing depends on the number of owners, federal tax classification, business activity and any tax elections in effect.
A multi-member LLC is generally classified as a partnership for federal tax purposes unless it elects another eligible classification. A single-member LLC is generally disregarded for federal income-tax purposes unless it elects corporate treatment, with the underlying activity reported through the owner's applicable return.
An eligible entity may also elect S corporation treatment when the applicable requirements are satisfied.
Is your business ready for tax preparation?
Business tax preparation is significantly more straightforward when your underlying financial records are complete and organized. Practical readiness items include:
- Bank accounts reconciled
- Credit-card accounts reconciled
- Business income recorded
- Expenses categorized correctly
- Owner / shareholder / partner transactions identified
- Fixed-asset information available where relevant
- Year-end financial statements available where applicable
- Prior business return available where relevant
From clean books to the business tax return
Business tax preparation depends heavily on the underlying accounting records. When bookkeeping needs cleanup or completion first, An Noor Financial Advisors can coordinate that work through our dedicated Bookkeeping Cleanup Services before tax preparation begins.
Bookkeeping
Year-End Review
Entity Tax Return
Review / Filing Process
What business tax preparation may include
Exact requirements vary by entity type, tax classification, business activity and engagement scope. Preparation may include:
- •Confirming the applicable federal return and filing scope
- •Reviewing available bookkeeping and year-end financial information
- •Reviewing entity, ownership and tax-classification information
- •Preparing Form 1065, Form 1120-S or Form 1120, as applicable
- •Preparing supporting schedules required by the return
- •Preparing or coordinating Schedule K-1 information where applicable
- •Identifying missing or inconsistent information before finalization
- •Preparing supported state returns where separately included in scope
Who this service is for
This service is intended for partnerships, multi-member LLCs classified as partnerships for federal tax purposes, S corporations, C corporations, and other owner-managed businesses that fall within the supported filing scope.
If the accounting records are incomplete, behind or unreliable, bookkeeping work may need to be scoped separately before the tax return can be completed.
Related Support:
Information we may need
The exact document request depends on the entity and filing circumstances, but common items may include:
Business & Entity Information
- • Legal entity details
- • EIN and federal tax classification
- • Relevant elections or changes in ownership where applicable
Financial Records
- • Year-end bookkeeping records
- • Profit and loss statement
- • Balance sheet
- • General ledger or transaction detail where needed
- • Fixed-asset information where relevant
Ownership / Partner / Shareholder Information
- • Owner, partner or shareholder details
- • Ownership percentages
- • Contributions, distributions or shareholder/partner transactions where relevant
Prior Tax Information
- • Prior federal and relevant state business returns
- • Prior Schedule K-1 information where applicable
- • Notices or carryforward information relevant to the current return
Security notice: Do not submit SSNs, EIN documents, tax returns, bank statements, payroll records or other sensitive tax documents through the public inquiry form. Secure onboarding instructions are provided after the engagement scope is confirmed.
Preparation Process
Confirm entity and filing scope
We confirm the applicable federal return, engagement scope, and any additional information needed.
Review available records
We review the accounting records, ownership information, and supporting tax documents provided for the engagement.
Prepare the return and schedules
We prepare the applicable entity return and supporting schedules based on the available records and information.
Review, authorize and complete filing
The return is reviewed with the client or authorized representative, required approvals/signatures are obtained, and filing is completed according to the agreed engagement process.
Frequently Asked Questions
Which business tax returns do you prepare?
We prepare federal business tax returns including Form 1065 for partnerships, Form 1120-S for S corporations, and Form 1120 for C corporations.
What tax return does an LLC file?
There is no dedicated federal 'LLC tax return'. The required form depends on whether the LLC is classified as a disregarded entity, a partnership (Form 1065), or a corporation (Form 1120 or 1120-S).
What is the difference between Form 1065, Form 1120-S and Form 1120?
Form 1065 is an informational return for partnerships. Form 1120-S is for entities electing S corporation status, passing income through to shareholders. Form 1120 is for standard C corporations that pay tax at the corporate level.
Do you prepare S corporation tax returns?
Yes. We prepare Form 1120-S, reporting the income, deductions, and losses of the qualifying business, and providing Schedule K-1s to shareholders.
Do you prepare partnership returns?
Yes. We prepare Form 1065 and the associated partner Schedule K-1s for general partnerships and multi-member LLCs.
Can you help if my bookkeeping is behind?
Yes. If your books are not reconciled, our bookkeeping team can scope a cleanup project to finalize your financial statements before tax preparation begins.
What business records are generally needed before tax preparation?
At a minimum, you need finalized bank reconciliations, a year-end Profit & Loss statement, a year-end Balance Sheet, and details of any owner transactions.
Do you support amended business returns or extensions?
Yes. We can prepare business tax extensions (such as Form 7004) and amend prior-year business returns if errors or omissions are identified.
How should sensitive business tax documents be submitted?
Do not send sensitive documents via our public contact form. After we confirm your engagement scope, we will provide secure onboarding instructions for document transmission.