FOR BUSINESSES

TAXES FOR BUSINESSES

We are the important piece to your business.

Make sure you file your business taxes on time with all applicable tax deductions and credits.

TAX PREPARATION SERVICE FOR BUSINESS

We guide our clients through a full range of tax planning, preparation & management decisions with strategies that minimize your tax liabilities, maximize your cash flow and keep you on track to your financial goals.

Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.

We are knowledgeable and up to date on the tax laws and can make sense of your receipts, bills and bank statements.

Our team is ready to guide you every step of the way to financial success for your business. You will receive:

  • Financial review and analysis

  • Identification of tax deductions and credits

  • Provide timely financial reports

  • Compliance with tax regulations

  • Recommendations for good financial mangement

  • Continuous support

  • Backing for electronic filing

WE HERE FOR YOU

We know that keeping your business up to date has taken a lot of effort. That is why it is important to file your taxes intelligently and safely. This way, you´ll continue to ensure the success of your business.

About ¨LLC¨ Taxes

  • One of the main advantages of an ¨LLC¨, especially for new businesses, is taht it allows you to file taxes along with your personal return using Form 1040 and Schedule C for self'-employment income. This means you don´t need to file a separate return for the ¨LLC¨, wich saves time and money.

  • The flexibility of an ¨LLC¨also lies in that as your business grows, you may choose to file taxes as an S-Corp using Form 1120S, wich can be advantageous when your business starts generating more revenue and having employees. This change may require filing Form 2553 so that the IRS can correctly classify how you want to report your taxes.

    An ¨LLC¨is also useful for property owners who want to rent out their properties. in this case, income is reported on a Schedule E within 1040. This avoids the need to file multiple tax returns.

  • PERSONAL INFORMATION:

    1. Social Security Number o ITIN: for you, your spouse (if aplicable), and your dependents.

    2. Valid ID: Pasport or driver´s license.

    3. Marital Status: Define whether you will file as single, married, head of household, etc.

    INGRESOS:

    1. Forms W-2: Report of income and withholdings from your employers.

    2. Forms 1099: As applicable (1099NEC-1099K-1099 int - 1099 B - 1099 K, etc).

    3. Form K1: If your ¨LLC¨ is classified as a partnership

    4. Bank Statements.

    EXPENSES DEDUCTIONS:

    1. Business expenses: Purchase receipts and invoices, Bank and credit card Statements, Mileage or transportation expense logs, home office expenses, if applicable, others.

    2. Mortgage interest and students loans: Forms 1098

    3. Educational expenses: Forms 1098-T for tuiton and 1098-E for student loan interest.

About ¨S¨ Corp Taxes

  • Income, losses, deductions, and tax credits pass directly to shareholders, avoiding double taxation.

    Shareholders report these items on their personal tax returns.

    this can significantly reduce the tax burden, especially if the company´s revenues are high.

  • Liability Protection: Shareholders hace limited liability, meaning they are not personally liable for debts or claims against the company, except in specific cases.

  • PERSONAL INFORMATION OF THE OWNERS

    1. Social Secutrity number on Itin the business owners(s).

    2. Valid identification document: passport or driver´s license.

    INCOME:

    1. Bank Statements.

    DEDUCTION OF EXPENSES

    1. Bank Statement for all business accounts, including credit cards.

    2. Expense receipts

    3. Business-related automobile or mileage expenses.

    OTHER IMPORTANT DOCUMENTS (for new clients).

    1. 940,941, NYS45.

    2. Sales Tax report.

    3. Partner minutes.

    4. Last tax return.

About ¨C¨ Corp Taxes

    • Asset protection and limited liability.

    • Ability to attract public and private investment.

    • Extensive tax deductions and employee benefits.

    • Limited liability: Shareholders are not personally liable for the debts or claims of the corporation.

    • It is an independent legal entity, separate from its owners (shareholders).

  • PERSONAL INFORMATION OF THE OWNERS

    1. Social Secutrity number on Itin the business owners(s).

    2. Valid identification document: passport or driver´s license.

    INCOME:

    1. Bank Statements.

    DEDUCTION OF EXPENSES

    1. Bank Statement for all business accounts, including credit cards.

    2. Expense receipts

    3. Business-related automobile or mileage expenses.

    OTHER IMPORTANT DOCUMENTS (for new clients).

    1. 940,941, NYS45.

    2. Sales Tax report.

    3. Partner minutes.

    4. Last tax return.

¡VISIT US TODAY!

 

Why Nexo?

Trust Worthy

Nexo Tax Corp was founded to help clients take control of their finances and enjoy year-round peace of mind.

Experienced

If we’re just getting started as the tax deadline looms, don’t worry, you’ll be in good hands immediately and long into the future.

Professional

Before we prepare your taxes, we prepare you to be financially successful. We create solutions you can implement right away.