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Service Descriptions and Benefits |
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Home > Services > Tax Services > Service Descriptions and Benefits
| Service | Service Description | Primary Benefits |
| Corporations | Tax preparation services for corporations include preparation of federal Form 1120 and the Michigan Single Business Tax return. Planning services can include developing strategies for planning compensation, year-end bonuses, estimating annual income or expenditures, computing quarterly estimate payments and managing taxable income and deductions. |
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| Employee Benefit Plans | We can prepare the annual Form 5500 for your employee benefit plan (including pension, 401(k), and health and welfare plans.) The filing deadline for Form 5500 is 7 months after the plan's year end. For a calendar year plan, the deadline is July 31. An approved extension to file extends the deadline by two and a half months (October 15 for a calendar year plan.) |
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| Estates | Assist with estate planning to reduce the impact of estate taxes. The service includes recommendations for planning lifetime transfers and the eventual preparation of an estate tax return. |
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| Individuals | Tax return preparation can include all forms you need to file your federal, state, local or out-of-state returns. We can also help estimate your taxable income before the end of the year so you can plan for changes needed in your withholdings or estimated tax payments. Since your tax concerns are not limited to once a year filing, we are available year-round to answer your questions. Individual tax preparation services can also include preparation of children's returns, preparation of tax return extensions and computation of estimated tax payments. |
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| IRS Exams or Notice Response | An IRS examination may be a desk review with the agent requests additional information or documentation or a field review where the agent examines significantly more information. An examination starts with a written IRS request. Our service can include helping you assemble any needed information, acting as your representative before the IRS agent, researching technical issues, responding to IRS inquiries, and advising you about pertinent maters that may arise during the examination. |
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| Not-for-Profit Organizations | Our service includes preparation of federal Form 990 and related state forms. In addition, we can assist with preparing year-end closing entries and can advise you on other matters, such as taxability issues on unrelated taxable income. Also see our Not-for-Profit industry page |
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| Partnership | Tax preparation services for partnerships include preparation of federal Form 1065. Planning services can include developing strategies for planning partner compensation and distributions, year-end bonuses, expenditures and assisting with the managing taxable income and deductions that flow through to the partners. |
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| Payroll Tax, W-2s, 1099s | Payroll services include preparation of federal and state quarterly and annual returns for employee withholding and employer taxes as well as year-end W-2, W-3 and 1099 forms. If you prepare your own returns, we can advise you about questions you might have. We can also help you evaluate the merits of using an outside payroll service. |
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| Property Tax | Property tax services can include either the preparation of or assistance with the annual business property tax returns. |
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| Proprietorship | Tax preparation services for proprietorship include preparation of federal Form 1040, Schedule C. The service can also include assistance with year end accounting. Planning services can include developing strategies for planning compensation, year-end bonuses, expenditures and managing taxable income and deductions. |
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| S corporations | Tax preparation services for S corporations include preparation of federal Form 1120S. Planning services can include developing strategies for planning compensation, shareholder distributions year-end bonuses, expenditures and managing taxable income and deductions. |
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| Sales Tax | Our sales tax services can include helping you prepare monthly and quarterly returns, advising you about taxability issues and helping you respond to any sales or use tax audit issues that may arise. |
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| Tax Planning | Tax planning typically takes two forms.
Tax planning is important to all individuals and organizations. While tax planning is the most beneficial during the year, another time to consider planning is during the time when you are having you annual tax return completed while issues may still be fresh in your mind. |
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| Trusts | The basic tax return for a trust is IRS Form 1041. Information used in preparing the trust return (and the equivalent state return) often comes from 1099 forms received by the trust; from investment transactions summaries provided by a trustee or an asset custodian, such as a bank, trust company or brokerage firm; or from other sources. If your trust does not have a way to assemble this summary of trust activity, we can provide this service in addition to preparing the tax return. |
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