Small Business Income Tax Preparation Services

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Small Business Income Tax Preparation…

… is the most neglected area in the area of small business. The recent moves to “credential” income tax preparers require no specific credential for people who prepare business taxes simply because the Internal Revenue Service recognizes little or no problem in this area. The problem is that the small business owner does practically everything wrong, and thus recognizes minimal tax benefits while every movement to stimulate the economy specifically targets the vital small business community. Uniquely, the small business owner rarely employs a tax preparer who specializes in business taxes!


DSCN0669The Major Failures of the Small Business Community to Recognize Tax Benefits Specifically Targeted to them are the Result of:

  • When a small business sets up its accounting system, there is no participation of a qualified accountant, a qualified bookkeeper, or even the person (or firm) who will prepare the income tax return for the business. As a result, the accounting system does not capture or identify most of the meaningful items necessary for the income tax preparer to even know the business has such benefits available to it.
  • Most small businesses do not even have a functional accounting system.
  • The small business who lacks the basics of a functional accounting system usually provides a pile (if not box) of unorganized documentation which depending on the time available or the resources available to the tax return preparer may receive little or no scrutiny. Specifically, the income tax return preparer does not know, and cannot see any elements that would indicate the small business has tax advantages to exploit.
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Accounting Services

The Part-Time CFO, Inc. specializes in both setting up an accounting system and doing the accounting in order that a small business can both identify and exploit the income tax advantages that are targeted to this vital part of the economy. Additionally, The Part-Time CFO, Inc. employs Enrolled Agents to prepare income tax returns for its clients

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Tax Return Audits

While there is no perfect time to make a move to “better,” now might be that perfect time. Ideally, the beginning of the year allows for all of the benefits to be recognized for the current year’s income tax return. For those companies interested in making the investment to “clean-up” prior years, The Part-Time CFO, Inc. can do that also.

Reliable Accounting

Most meaningfully, though is the concept (is this a new idea?) of the income tax preparer setting up the accounting system to collect the meaningful information to prepare an optimal income tax return. Of course, The Part-Time CFO, Inc. provides both Income Tax Preparation and complete Accounting Services – in your office, or in ours!