Services
This firm specializes in navigating the complexity of the Internal Revenue Code to generate a detailed tax plan to educate our clients on the necessary steps to implement strategies to reduce their taxes.
KW Tax Solutions is available year-round to focus on your individual tax circumstance. Allow our firm to be your trusted source for your small business.
S Corporation Late Election / Consultation $300
A S Corporation can be beneficial by allowing a shareholder to separate their net profits into business-related expenses, reasonable compensation (based on your profession) and the owner’s distribution. According to the IRS, to be considered on time when filing your s-corporation election it must be completed within 75 days of forming your LLC. Otherwise, The IRS late filing deadline will allow business owners 3 years and 75 days of the effective date of forming LLC to submit their election with an explanation of reasonable cause. Certain states will impose a franchise tax while other states will require a nonresident shareholder to file a consent agreement form. New York and New Jersey require a shareholder to file a separate state election to qualify as a sub s corporation. Collaborate with my firm to diminish a portion of your net profit from paying 15.3% by applying for your s-corporation election today.
Tax Planning $500-$10K+
Tax planning requires financial literacy, knowledge of IRC and ability to customize a plan tailed to fit the client situation. An individual must consider implementing tax planning before year end to reflect a lower gross income to reduce FICA, Federal and/or State taxes. My priority is to ultimately match your expenses with the right deductions and credits allowing me to legally and ethically utilize business related expenses permitted under code section 162(a) of the IRC. As a tax advisor I’ve immersed myself in tax law with the determination to extract strategies that are considered reachable for the client to execute. My tax planning software will generate a detailed report allowing you to immediately start implementing selected strategies based on my extensive evaluation of your 1040 tax return. A consultation is vital to commence the tax planning process to get a deeper understanding of your business, goals and tax situation. Purchasing my tax planning package is a minimal cost that will result in hundreds to thousands saved for the next tax filing year. Work with KW Tax Solutions in taking accountability to expose every strategy.
Limitation of liability [KW Tax Solutions] assumes no financial responsibility or liability for any individual who purchases our tax planning service and does not complete required task related to strategies outlined in their tax plan report.
Business & Individual Tax Audit Defense Included
Tax Preparation (Schedule C) $300-500
Tax Preparation (Schedule E) $120 per property
Tax Preparation (Form 1040) $230 + $120 MFJ
Tax Preparation (Form 1065) $850 + $50 per schedule K-1
Tax Preparation (Form 1120S) $950
Tax Preparation (Form 8825) $100 per property
Tax preparation is essential for small business owners to stay compliant with the taxing authority on an annual basis, unfortunately late fees and penalties will be imposed if forms are not submitted according to their due date. If your tax return requires additional forms or schedules, it will increase the cost of your tax preparation fee. Business owners with limited activity due to their first year in operation will be charged a lower tax preparation fee. A tax deduction in general allows you to subtract the expenditures incurred during the year from your gross income resulting in a lower taxable income. On the other hand, A tax credit provides a more rewarding outcome—credits will generate a dollar-for-dollar decrease based on your taxes owed. As an e-file provider our firm can assist dedicated entrepreneurs to professionally and ethically to prepare their business tax return. As a result, clients would drastically lower their taxable income resulting in less funds for Uncle Sam and more resources for investment, savings or towards future goals.
Business Extensions $125
Extensions allow a taxpayer to postpone filing their business tax return (Form 1065 or Form 1120S) during the traditional window of January 1st to March 15th. Nevertheless, an extension will expand your timeframe from January 1st to September 15th allowing more time to properly compose all tax documents. In the event you’ve missed the business tax filing deadline of March 15th the late penalty per shareholder is a minimum of $220 each month. Filing an extension does not extend your window to pay Federal & State taxes that are due April 15th. It’s vital to file an extension to avoid unnecessary penalties. Allow our firm to submit your extension with e-file.
Reason for increased tax fees:
- Onboarding new business client to review prior year(s) tax return
- Additional 1099’s, W2’s & multiple state filing
- Prior year tax preparation balance due to firm
- Additional Forms & schedules
- Time dedicated to conduct receipt scavenger hunt to obtain business expenses
- Complicated issues requiring tax research
- Additional shareholders in business entity
- Unorganized tax documents