Service Update - COVID-19

Due to the rapidly evolving situation with COVID-19, our office has established a business continuity plan and will continue to serve our clients in the safest way possible.

Our staff will be working remotely and will be closing our office until further notice. We will resume in office operations and will be available for phone calls once our government agencies deem it safe. We ask that you please remain patient and consider the following: The IRS has granted taxpayers relief by giving extensions on all income tax payments up to July 15th. The extensions will be valid once an electronic extension is filed, which we will do for you.

We assure you that we will continue to work all files diligently and timely.

If you should have an emergency, we are providing Steve Whyte's contact information where he can be reached. PLEASE be extremely considerate and thoughtful on whether your matter is truly an emergency prior to calling. Steve Whyte's PH: 909-720-6876

Business Continuity Plan

Sincerely,
Steve Whyte, E.A

Business Taxes

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Business Taxes

A corporate tax is levied against profits often including capital gains of a company or association. Earnings are generally calculated by deducting expenses from gross revenue.

No matter what the entity type, Whyte & Associates can prepare your business taxes. The business tax returns that we prepare annually are:

  • 1120 – C CORP TAX RETURN
  • 1120 – S CORP TAX RETURN
  • 1065 – PARTNERSHIP, LLC, LLP TAX RETURN
  • 990 – NON PROFIT TAX RETURN
  • 1041 – ESTATE OR TRUST TAX RETURNS

The above are necessary forms that need to be filed with the IRS. Along with filing the Federal tax return, we will prepare the necessary state return to go along with your Federal return.

A business tax return is generated from a good set of financial statements. The basic accounting functions might seem simple at a glance, but they can be far from it. We strongly encourage our clients to provide us financial statements generated by professionals.  It is too often that we see clients overpaying in taxes often more than the cost of professionally prepared financial statements.

Even though we encourage professional accounting, there are exceptions when we are able to work from self-prepared accounting.  We will make that determination upon our meeting. The following will be needed during our meeting:

  • Balance Sheet
  • Income Statement (Profit & Loss)
  • Year-to-Date General Ledger
  • All supporting Documents for New Asset Acquisitions, Sales, or Disposals

With tax laws and regulations changing so quickly from year to year, it is key to find a preparer who does the due diligence to make sure you stay compliant. The best part about the Whyte & Associates team is that we are not just here to push out tax returns in bulk; we take pride in reviewing your business tax returns so that we can advise you on how to save the most taxes for the business and for you as the owner.


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