Business Taxes in Las Vegas, NV and in all 50 states

Home 9 Business Services 9 Business Tax
Get Started

Tax Preparer for Small Business: Tax Returns, Accounting, and CPA Services

Letting software calculate your tax filings or even relying on a non-credentialed tax preparer or accountant/bookkeeper to do your business taxes is a risk that most businesses cannot afford to take. Just hiring a “licensed tax preparer” is not enough. You could fill out an application for $30 and send it to the IRS and become a “licensed” tax preparer. Fact. No training is required.

Preparing Small business taxes involves tasks that can leave small business owners with more questions than answers. And that is why having an expert tax and accounting team, such as the Enrolled Agents (EAs) and CPAs at Torchlight Tax & Financial Solutions in Las Vegas, is so important. An EA holds the highest federal tax credential. A CPA holds the highest state tax credential.

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple tax return can be confusing. It is easy to overlook personal and business expenses, tax deductions, and credits to which you are entitled, in order to lower your taxable income. Even if you use a computer tax software program, there’s no substitute for the assistance of an experienced tax advisor in Las Vegas. Small business owners should also keep track of their estimated tax payments to avoid underpaying taxes.

Preparing your own business income tax return is a risk that most cannot afford to make. Business income tax return preparation can leave you with more questions than answers. And that is why having an expert tax team, and expert tax preparation services, such as with the EAs and CPAs Torchlight Tax & Accounting in Las Vegas, is so important.

Many small businesses operate as Sole Proprietorships and file a Schedule C with their 1040 tax return. As they expand, they often become LLCs, Partnerships, S Corporations and C Corporations, and should, for many benefits on your federal and state taxes.

Changing your business entity type can have large tax advantages, when one is doing small business tax preparation. We at Torchlight Tax can review which entity type is best for you and file the needed documents.

Problems in Doing Tax Preparation Yourself

There are ways you can get yourself in trouble filing on your own, or using a partially-trained tax preparer, like those at the franchise tax mills:

  • Going past misunderstood words on your tax form (1040).
  • Guessing where to put a number because it must go somewhere.
  • Listening to or getting help from a friend who is untrained in taxes.
  • Watching YouTube videos recorded before their authors went to jail.

It is easy to overlook or be unaware of deductions and credits to which you are entitled.

The computer software program cannot input the numbers for you. There’s no substitute for the assistance of an experienced tax return preparer in Las Vegas, like the EAs and CPAs at Torchlight Tax.

Don’t worry about your messy books. Business owners are busy and often don’t have time to stay on top of their bookkeeping. Torchlight Tax & Accounting in Las Vegas can help clean up your bookkeeping for the tax year and prepare and file your business and personal tax returns

More

pexels burst 374720

    Request Appointment Now!


    Why Torchlight Tax

    Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Torchlight Tax, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from bookkeepers and other tax preparers by stringent qualification and licensing requirements. Our entire team has a purpose to legally save your tax dollars and to make taxes as painless as possible. This means we take your calls and respond to your concerns. If you receive a threatening IRS call or Notice or are worried about some tax question, we are here for year round taking your calls and responding to your emails.
    Free Consultation ☏

    Upgrade to a full-service Tax Firm

    Whether you are filing personal, small business, or corporate taxes, or negotiating IRS tax debt, if you are not already using a professional Tax, Accounting, and IRS Representation firm, you most likely have missed out on major tax benefits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who can also advise businesses and corporations of all sizes and types. Tax laws are complicated, and no one knows everything. Torchlight Tax is a team and any one of our tax pros can call on other EAs, CPAs, and Tax Attorneys in the team who may have specialist knowledge in a specific area of tax..
    Individual Services Business Services

    Amendments

    When doing current taxes, we often come across missed tax savings from prior years. When this happens, the Internal Revenue Service allows you to amend your taxes and lower your tax liability. Whether you or your prior tax preparer missed a W-2 or 1099, a revised 1099. large charitable donations, or made some other error, amending your tax return can help you recover the money you are rightfully owed. When we find this situation, we will advise you on potential savings and amend the previously filed tax return.

    Sometimes, there may be a situation where a tax return could be amended, but it is too late to receive any benefit. Or maybe you made an error that was missed by the IRS that would have increased your tax liability. In some cases, it is prudent to file an amended return. But if it is not necessary and will not save you any money or decrease your risk, we will tell you not to bother. It is silly to amend a return to no advantage which is too old for the IRS to audit. Some firms might file a bunch of unnecessary tax returns and charge a fee. Sometimes a taxpayer himself might increase his tax liability by filing an unnecessary amendment that increases his tax liability. We will not do this.

    Amending a tax return requires more professional acumen then doing it right in the first place. At Torchlight Tax, we do file the tax return correctly the first time. And we will happily amend your tax return, but only if it actually is to your benefit. If you think you might need to amend tax returns, contact Torchlight Tax for a free consultation.

    Free Consultation ☏