Business Tax Prep for Entrepreneurs

Business tax prep is the preparation and filing of the income tax returns a business owes each year, such as Schedule C for a sole proprietor or single owner LLC, Form 1120-S for an S-Corp, Form 1065 for a partnership, or Form 1120 for a C-Corp, plus the state returns that go with them. A business tax preparer turns your financial records into returns that report your income correctly and claim the deductions and credits you qualify for.

Business tax preparation at Gutsy Money can include your federal and state business income tax returns for your entity type, and your federal and state personal income tax returns for the same tax year. The exact returns are listed in your proposal. Tax planning, amended returns, audit representation, IRS notice resolution and bookkeeping aren’t part of Tax Preparation Services, and estimated tax calculations are included when requested.

Gutsy Money’s experienced business tax preparers will handle your return. Both are Enrolled Agents (EAs), a credential issued by the IRS, and between them they have 33 years of tax experience.

Yes. Tax Preparation Services can include your federal and state personal income tax returns, so your K-1 and owner wages are reported consistently on both. This isn’t required but it is recommended.

Most business owners benefit from professional business tax help once their return involves more than simple income and expenses and definitely when a separate business return is required, such as after electing S-corp, adding a partner, hiring employees or doing business in another state. It’s also worth it when preparing your own return is taking time away from running the business. If you paid more than you thought you should (or wanted to) last year, this is also a key indicator it’s time to bring in the professionals! Gutsy Money prepares returns for business owners at each of these stages.

Business tax preparation at Gutsy Money starts at $665 for an owner’s personal return with Schedule C and $995 for S-Corp, C-Corp and multi-member LLC returns. Both include the state return when one is required. You can see all of our starting prices above. Your final price is quoted after you complete our Tax Preparation Questionnaire. It depends on factors like your entity type, the states you operate in and the number of owners, along with your personal tax situation, such as rental or royalty income, investments and major life events during the year. If we find additional tax events that need more forms or work, additional fees may apply. But we’ll never charge you for conversations or questions like some providers.

For businesses on a calendar year, partnership/multi-member LLC returns (Form 1065) and S-Corp returns (Form 1120-S) are due March 15, and C-Corp returns (Form 1120) and individual returns, including Schedule C, are due April 15. Extensions move those to September 15 and October 15. Gutsy Money’s document deadlines come several weeks before each IRS deadline, and if your documents arrive after our deadline, your return will be extended.

No. You can keep your own books or work with any bookkeeper, as long as your records are current when tax season starts. If they’ve fallen behind, our Past Books Cleanup & Catch-Up service can bring them current, and if you don’t have an accounting system yet, Accounting System Setup can build one.

No. Business tax preparation reports the year that already happened. Tax planning is a separate service at Gutsy Money called the Tax Assessment + Strategy Review, which looks at your entity structure, owner compensation, deductions, timing and more strategic tax levers before the year ends. Many business owners use both.

No. Amended returns, IRS notice resolution and audit representation aren’t included in Gutsy Money’s Tax Preparation Services, and each requires a separate engagement. If you’ve received a notice or think a past return needs to be corrected, book a tax consult and tell us what’s going on.

Yes. Gutsy Money is headquartered in Denver and prepares business and personal tax returns for business owners nationwide. If your business operates in more than one state, we prepare each state return your business needs, and the number of states is part of your quote.

Yes, and you don’t need your previous preparer’s permission. Start with our Tax Preparation Questionnaire. We’ll use your answers to provide a custom tax proposal. After you accept your proposal, we’ll collect past business and personal returns with your other documents so we can carry forward items like depreciation and prior-year losses. Business owners often switch after a tax season of unanswered questions or ignored emails.