Our corporate tax division is headed by one of the most experienced CPAs in the industry. For more than 35 years, our CPAs have been handling corporate taxes and are considered an experts in corporate tax preparation and planning. He has a team of professionals with decades of experience. Our clients benefit from our strategic approaches.
Corporate taxes require specific and much attention at the federal level and also at the state level. Reporting income for tax purposes is very different than reporting income for financial statement purposes. Not only are the rules different for these purposes, but they are also very different for various industries. Tax rules that apply to certain industries may not apply to others. Our team of corporate tax professionals are experts with these rules and procedures.
If this is not confusing enough, most states have their own set of rules and most states do not follow the federal rules. In some cities, such as New York City, the rules that one must abide by are totally different from the federal and state rules. One must be extremely diligent in reporting income and expenses when preparing a corporate tax return. Corporate tax preparation, in recent years, has become even more complex. For example, as a general rule, a C-Corporation is subject to taxes at rates that range from 15% to 35%. However, many tax preparers and CPAs overlook that personal service corporations have a flat rate of 35% of all income (section 11b of the IRS code). |
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