Capital Grove · Durham, NC
Business tax preparation grounded in your records.
Return preparation for independent contractors, sole proprietors, partnerships, S corporations, and C corporations.
Who this helps: Independent professionals and owners who need an accurate annual business filing.
Durham office: 3604 Shannon Road, Suite 105, Durham, NC 27707Business tax preparation turns a year of revenue, expenses, owner activity, and entity records into the return required for the way the business is taxed. The work differs for a sole proprietor reporting on Schedule C, a partnership filing Form 1065, an S corporation filing Form 1120-S, and a C corporation filing Form 1120.
Capital Grove prepares business and self-employed returns from our Durham office for owners across Durham and Raleigh. We focus this service on the annual filing: organizing tax information, resolving reporting questions, preparing the applicable federal and North Carolina returns, and helping owners understand what flows to their individual filings.
Preparation for the way the business is taxed
An LLC is a legal structure, but it may be taxed in different ways. We first confirm the filing treatment and the return that belongs to the business. Independent contractors and single-owner businesses may report activity on Schedule C, while partnerships and corporations generally have separate filing responsibilities.
For pass-through entities, the business return produces information that owners use on their individual returns. Preparing those pieces in the right sequence helps keep income, deductions, owner contributions, distributions, and tax-basis information consistent.
Records behind revenue and deductions
A complete return depends on more than a year-end profit figure. We review the available income and expense detail, fixed-asset purchases, loans, owner transactions, contractor reporting, and prior-year carryforward information that may affect the filing. Questions are addressed against the business records rather than filled with assumptions.
The process also helps distinguish deductible business costs from personal spending and identify items that need clarification. Start with organized income, expense, and payroll records from the systems or professionals you use to maintain them.
Federal, North Carolina, and owner coordination
Business filings can affect North Carolina returns as well as each owner’s federal and state return. We coordinate the applicable filings and provide the completed schedules or owner information needed for the next step. If the business has activity beyond North Carolina, we identify the records needed to evaluate additional filing questions.
We also review payment and filing instructions, including extension steps when records are not ready. Because an extension generally changes when a return is filed rather than when tax is paid, available information still needs to be reviewed before the original deadline.
Connect the annual return with the year ahead
Annual preparation reports transactions that have already happened. It can also reveal questions about changing entity tax treatment, owner compensation, or quarterly payments that are worth reviewing before the next filing season.
We can coordinate estimated payments and identify changes that call for a more detailed projection. Bringing the completed return into that conversation makes it easier to see what has changed and which assumptions need updating.
What’s included
- Schedule C and business return preparation
- Owner and self-employment tax considerations
- Estimated-payment coordination
- Federal and North Carolina filing coordination
Questions about this service
Which business returns do you prepare?
We prepare Schedule C activity and federal returns for partnerships, S corporations, and C corporations, together with applicable North Carolina filings.
Do you work with independent contractors and single-member LLCs?
Yes. We prepare returns for independent contractors, sole proprietors, and LLC owners based on the business’s tax treatment and records.
Can you prepare the business and owner returns together?
Yes. We prepare business and individual returns and coordinate the income and other information owners need from a partnership or S corporation. The business’s tax treatment determines which returns are required.
Let’s talk about your taxes.
Tell us what you need help with and the tax years involved. We’ll help identify the next step.
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