Tax Resolution Assistance for Personal and Business Taxes
Taxes are a universal truth for everyone, but they’re certainly not exactly the same for everyone across the board. Depending on your circumstances, your filing requirements can actually vary quite a bit.
This is especially true depending on whether you’re filing your own personal taxes or filing for your business. Don’t worry, though; whether you’re filing personal or business taxes, and no matter where you’re located, our Sacramento team offers tax preparation assistance that you can rely on!
Filing Personal Taxes
When you file your own personal taxes, things are fairly straightforward–at least relatively. With a very small list of exceptions, you’ll almost certainly file using the standard Form 1040. In addition, your due date will be the typical Tax Day in April.
Of course, keeping track of your information, ensuring you claim all of your available exemptions, and ensuring that you don’t overpay on taxes can quickly become a challenging task. If this sounds familiar, then contacting our Sacramento team’s tax helpline is the first step toward simplifying your experience!
Filing Business Taxes
Filing taxes for a business, on the other hand, follows a completely different set of rules. While sole proprietors can still report their self-employment income on the standard Form 1040, other types of businesses will require separate forms.
- C corporation owners use Form 1120
- S corporation owners use Form 1120S
- Partnerships use Form 1065
- Non-profit organizations use Form 990
Additionally, businesses are responsible for filing in accordance with multiple deadlines throughout the year to estimate their earnings, rather than adhering to a single deadline. Of course, businesses will also have a greater number of deductions to claim on their taxes.
Needless to say, business taxes can get quite a bit stickier than personal taxes. If you’ve been struggling to keep your business taxes straight, especially when it comes to taking note of your responsibilities, don’t fret; Paramount Tax Relief is here to help!
To learn more about preparing your personal or business taxes, or for the professional help you need to ensure you’re on the up-and-up, don’t hesitate to contact us online or to call our team directly at (916) 533-9940 today!