Small Business Tax Preparation Services in Minneapolis
Minnesota-Based Accountants Who Specialize in Small Businesses Tax Prep and Planning Services
Tax preparation and planning for small businesses requires expertise of tax laws and regulations, a keen eye for detail, and a balanced strategy that includes understanding deductions and credits to keep as much money in the company as possible. If you don’t have that expertise in-house, no problem. Minneapolis-based Corneliuson & Associates can guide your organization’s tax preparation and planning process, with experienced accountants in your corner to ensure your small or medium-sized business is in compliance with laws and regulations.
Whether you are an individual or a business looking to reduce your tax burden, our professionals are here to help. We will generate a customized tax savings plan that allows you to strategically reach your goals, and build a structure that will benefit both your professional and personal needs in order to optimize your interests. Learn how we can help with your tax needs by booking a free consultation with one of our small business tax preparation service experts.
Types of Businesses
Sole Proprietors (Self-Employed)
If you are a sole proprietor, you and your business are legally connected. As the owner, you are responsible for business expenses, business income returns, liabilities and assets. Our small business tax preparation and planning services can take the stress out of tax season and help you get the most out of your return.
Limited Liability Companies (LLC)
With limited liability companies, the owner and business are considered separate. Because LLCs are measured as “pass-thru” entities, taxes are paid through individual income tax code instead of corporate tax code. Our small business tax accountants will help simplify the return process and minimize liability.
General Partnerships (1065)
Under federal law, a partnership is not a taxable entity. So, like a sole proprietorship, the business and its owner are treated as equal, and partnerships are expected to divide their liabilities and assets according to the percentage owned. Our small business tax preparation services have created significant gains for general partnerships and simplified the process significantly.
C Corporations (1120)
Corporations are considered a separate tax-paying legal entity but are still expected to pay corporate income tax after factoring in losses, deductions and credits, resulting in double taxation. Corneliuson & Associates can help you understand the process and make the most of your tax return so you can earn the maximum amount of money back.
S Corporations (1120S)
Much like LLCs, S Corporations are considered a separate, “pass-thru” entity. This makes for tax flexibility and means that S corporations are not double taxed like C corporations. S corporations are put in a beneficial position when it comes to taxation — our small business tax preparation and planning services can help you maximize your monetary possibilities.
What to Expect
Corneliuson & Associates has worked with small businesses for decades. Our full-service tax planning services saves businesses time and streamlines their financials for years to come. This helps them generate a foundation for long-term growth. With our knowledge in QuickBooks and cloud-based accounting, we are a one-stop shop for all small and medium-sized business tax accountant services in Minnesota and western Wisconsin. Working with us includes 24/7 access to your important tax documents with our secure online client portal. View all of your financial statements, tax returns, and more in a single place while working with Corneliuson & Associates.
Why Clients Consider Us the Best Accounting Firm in Minneapolis
From Shaun F. of Morningside Consulting:
Tax Prep to Help Your Small Business Keep More of its Cash
Regardless of whether you are an individual, Sole Proprietorship, LLC, Partnership, or C- or S- Corporation, we have the expertise to help you with your taxes. We know how your tax burden affects your cash flow, so we work to reduce your tax burden, allowing you to use your money however you wish.