Business Tax Services

At Dunham Associates CPAs, we have an abundance of experience in with the complexities of accounting related to business tax filings on Schedule C, Form 1065 and Form 1120. Schedule C returns are the simplest because they have no balance sheets, yet Dunham Associates frequently finds deductions overlooked or misstated by others. These schedule C returns get audited far more frequently than the corporate and partnership returns. Naturally we can handle sales, use, property or payroll tax issues or give necessary representation. Whatever type of entity you manage, whether it be a small Sole Proprietorship or Corporation, Partnership or LLC, our expertise will provide you with the peace-of-mind you require in order to move your business forward.

C-Corporation and S-Corporation Tax filing (Forms 1120 and 1120S)

C-Corporation returns get filed by America’s largest corporations and by many small companies; yet owners must watch the corporation pay tax before they themselves get taxed on dividends. From a tax perspective, S-Corporations and Partnerships are more alike than C Corporations because the former two must deliver K-1’s to clients—there is no double taxation. S-Corporation K-1’s distribute a wide variety of tax benefits that affect many parts of the return. Fair salaries must be paid, but S-Corporation owners may sometimes obtain dividends without employment taxation.

Partnership and LLC Tax filing (Forms 1065 and CA 568)

Dunham Associates CPAs serves real estate partnerships with hundreds of clients and small business clients with just two partners. Partnership is the simplest and cheapest way to combine disparate skills and abilities in a stronger business. In tax, partners may pass through varied losses and gains, income and credits, presumably because these chosen deductions and credits are more useful to end taxpayers than the simple gains of market stocks and bonds. Dunham prepares balance sheets and returns for partnerships and readies K-1’s for distribution.

LLC’s offer technically unlimited liability to all owners, not just the limited partners. On the federal level, they require no separate discussion because members must file as corporations, partnerships or sole proprietorships. We do single member LLC filing regularly for California clients with small businesses, and this adds only a small amount of complexity (and cost) to the tax return. Larger LLC’s get coupled with the partnership or corporate returns.

Sole Proprietorships and Taxation

Sole Proprietorships are the easiest businesses to set up—and the most numerous–but they are most likely to get their owners into tax troubles; audit rates are higher and taxpayers are more likely to push limits. Growing proprietorships will start with challenges like keeping auto expense records and knowing when to pay wages instead of hiring independent contractors. Soon they may have challenges with payroll, property or sales and they must register their entities with the EDD and IRS and purchase insurance. They begin to track inventory if they are retailers and they master Quickbooks. They develop long term strategies to hire and retain the best workers with the lowest cost and best tax benefits. As income grows, entrepreneurs need to reduce taxes increases and they pay self-employed health insurance, take Section 179 expenses for depreciable equipment and choose retirement plans for their future. Dunham can help with every step of this process.

Business Tax Representation: Local, State and Federal

When government demands payment of business taxes which may not even be owed, Dunham Associates CPAs is there to help—and we play to win. We gladly renegotiate property values for property tax, set the Board of Equalization straight on Sales Taxes or deal with IRS audits. Whether you have payment problems or legitimate disputes over income tax, sales tax, or local property tax, our team of experienced CPAs and IRS Enrolled Agents are tax specialists who know what and how to speak without letting the costs of representation drain your pockets.
Review and Analysis of Business Tax Transcripts to locate errors and refunds.

Business Income Tax Return Compliance Audits and Appeals
Sharp responses to IRS and State Income Tax Notices
Delinquent Tax Returns Preparation and Defense
Installment plans and Collections hearing defense.
Payroll tax, independent contractor audits, Trust Fund Recovery Penalties.
Sales and Use Taxes Audits and County Property tax negotiations.