HARRIS TAX AND BUSINESS SERVICES LLC.

INDIVIDUAL TAX PREPARATION 

We prepare all federal tax forms, schedules and state tax returns (where applicable).  Some states do not require you to file an annual tax return with them. Our combined knowledge and experience preparing tax returns exceeds 20 years.  We make ourselves available to help you prevent problems with our government tax agencies.  As you know, tax laws and guidelines are constantly changing.  That's why we encourage our clients to reach out to us with any of their tax related questions before they make decisions that could later cause them to pay huge penalties and interest to the government.  At Harris Tax and Business Services, there is no such thing as a stupid tax question.  So please feel free to contact us with your tax questions today. 

I have gained the trust and respect of many of my clients by just being there for them when their previous tax preparer was no where to be found (once a problem or question arose).  My direct line is given to all of my clients.  It has been the same number for more than seven years - 646.245.0058 - try it now. 

  

 

CORPORATE TAX PREPARATION 

We prepare all corporate tax returns.  This includes returns for: Sole Proprietors; Partnerships; Corporations;LLC's; Non-Profits.

We file: 940's; 941's; Payroll taxes; W2's; 1096's 

We prepare and issue: 1099's; W2's. 

We process: W4's; W9's; I9's.

Our tax return preparation is geared towards helping our clients understand the importance of good record keeping.  Good record keeping allows the process of filing the tax returns to be done in an accurate and time conscience manner.  With corporations and non- profits, some of the largest penalties are caused by late or non-reporting of tax returns to the governing agencies.   Many times, a lot of these penalties can be avoided by sustaining good record keeping and knowing when and how the tax returns and schedules should be filed.  If you want to avoid or have had corporate tax issues in the past due to what was mentioned above, please let us help you.  

TAX DEAD LINES AND OTHER IMPORTANT TAX TIPS

  

From www.IRS.GOV (Official IRS website):

PTIN - Preparers Tax ID Number

Anyone who for compensation prepares, or helps prepare, all or substantially all of tax returns or claims for refunds must have a PTIN. 

Taxpayers who use a paid return preparer are urged to choose a return preparer with a valid PTIN. Return preparers should also sign the returns they prepare for taxpayers and enter their PTINs on the returns.

 

WHEN TO FILE

Individuals:

April 15 of each year is the due date for filing your Federal individual income tax return if your tax year ends December 31st. Your return is considered filed timely if the envelope is properly addressed and postmarked no later than April 15. If you use a fiscal year (which is a year ending on the last day of any month other than December), your return is due on or before the 15th day of the fourth month after the close of your fiscal year.   If the due date falls on a Saturday, Sunday, or legal holiday, the due date is delayed until the next business day.  (Can file a 6 month extension)

Partnerships:

4 months after fiscal or calender year ends. (Can get a five month extension)

A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.

A partnership must file an annual information return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it "passes through" any profits or losses to its partners. Each partner includes his or her share of the partnership's income or loss on his or her tax return.

Corporations:

3 months after fiscal or calender year ends.  (Can get a 6 month extension)

Non- Profits:

May 15th is the deadline for Non- Profit companies to file their tax returns with the IRS. (Can get a 3 month extension) If you don't request an extension, the IRS will assess a penalty of at least $20 for each day your tax form is late.

If you cannot file by the due date of your return, then you can request an extension of time to file. However, an extension of time to file is not an extension of time to pay. You will owe interest on any past–due tax and you may be subject to a late–payment penalty if timely payment is not made.

 

All W2's must be issued to recipients by January 31st.

All 1099's must be issued to recipients by February 1st.

All W3's must be transmitted by February 28th.

All 1098's, 1099's and W2G's must be transmitted by March 31st.