Mike Wells offers business tax filers (corporations, partnerships, LLCs, etc.) expert IRS Federal and State tax preparation and planning, Sales and Use Tax returns, and electronic filing services. Federal and State business tax preparation and planning services are configured to help businesses navigate the complexities of the tax system, minimize tax liabilities, and ensure compliance with all applicable laws.
Compile all necessary financial documents, such as W-2s, 1099s, receipts, expense records, and other relevant information.
Calculate total business income from all sources, including sales revenue, investment income, and other income streams. Verify that all revenue is correctly accounted for and reported.
Identify and categorize all business expenses to ensure accurate deduction. Ensure that all eligible expenditures, such as rent, utilities, payroll, supplies, and depreciation, are included.
Identify and apply all available business tax deductions and credits, such as those for research and development, employee benefits, and equipment purchases. Maximize tax benefits through careful planning and application of deductions and credits.
Ensure all tax filings comply with Federal and State tax laws and regulations.
Complete and submit Federal and State business tax returns electronically or by mail. Ensure all filings are accurate and timely to avoid penalties and interest.
Provide support and representation in case of a tax audit, ensuring that clients are prepared and their rights are protected.
Develop long-term tax strategies to minimize the business's tax liabilities. Utilize tax-advantaged structures, such as S-Corporations, LLCs, or partnerships, to optimize tax results.
Calculate quarterly estimated tax payments to avoid underpayment penalties. Adjust estimates based on business performance and changes in tax laws.
Provide information during the tax year to address changes in business operations, tax laws, and financial goals. Assist with tax-related decision-making, such as capital investments and employee benefits.
Help business owners tax-efficiently plan for retirement and business succession. Develop strategies to pass the business to heirs or sell it to maximize after-tax proceeds.
Provide advice about the tax implications of business expansion, mergers, and acquisitions. Structure deals to minimize tax impact and maximize financial benefits.