Business
Business Taxes
Every business needs to file taxes – LLC, sole-proprietorship, S Corp, C Corp, General-Partnership, Limited-Partnership, and others. The IRS, as well as the state expect this to occur every year. It’s part of doing business. There are many ways to prepare business taxes that will legally allow you to minimize the amount of tax you have to pay. We can apply these to your tax returns, potentially saving you thousands of dollars and countless headaches. Please call us to set up a free 30-minute discovery consultation.
Some of the tax schedules we can take care of for you:
- Federal and State
- 1065-Partnership Returns
- 1041-Estate and Trust Returns
- 1120S – S Corporations
- 1120 – C Corporations
- Schedule C – Sole Proprietor or Single Member LLC
- Multi – State Taxes as needed
- Washington Department of Revenue
- Payroll Taxes – Multi-state
Small Business Accounting & Bookkeeping
Every business is different. We customize our accounting and bookkeeping packages to fit the needs of each business. As your needs change, we are there to guide and support you every step of the way. Your success is our success!
Advisory Services
We also provide upper-level advisory on issues extremely important to the financial well-being of any company. Payroll tax compliance, management of sales and use tax, income tax planning, long-range tax strategies, tax liabilities, and so much more are all available to you.
As-Needed CFO
Wouldn’t it be nice to have a professional financial manager and leader guiding your business to success? Maybe you’re not big enough to have a full-time Chief Financial Officer looking out for your short and long-term financial well-being. Doesn’t mean you have to go it alone. We offer all the services provided by a full-time CFO, on a part-time basis. Depending on the size and needs of your company, we can establish an ongoing schedule to provide on-site or remote services for your company.
Financial Planning for Businesses
The goal of financial planning at any company is to advise decision-makers on how to achieve revenue and growth goals. You don’t need a CFO to do this. We can provide these services for you, on an as-needed basis. We will analyze sales goals and revenue projections factored in with overhead, employee benefits, human resource needs and much more to create a clear plan for those within your company to follow.
Business Valuations
How much is your business worth? This is an important question that, if answered incorrectly, can cost you a lot of money. We will analyze various time-based metrics to provide an accurate valuation of your company.
New Business Formation
Congratulations, you’re opening your own business. We can help you choose the right financial path for your company – LLC, sole-proprietorship, S Corp, C Corp, General-Partnership, Limited-Partnership, and others. Each has a significantly different impact on your bookkeeping and taxes. It’s important you get it set up correctly right from the start.
Cryptocurrency Financials
Accepting cryptocurrency for business or personal transactions can create a host of issues. The IRS treats cryptocurrency as property and any gain or loss must be reported on Schedule D of IRS Form 1040. In addition, long-term gains (longer than 12 months) are subject to capital gains tax rates while short-term gains are taxed as ordinary income. Compass Accounting & Business Solutions can amend prior-year tax returns to reflect digital currency transactions, ensure compliance with all tax regulations, prepare tax returns and so much more.