Corporate Income Tax Preparation

RubinBrown’s specialized tax services include all the individual and small business tax preparation you would expect from a full-service professional accounting firm. However, we’ve also distinguished ourselves for deftly handling complex corporate income tax preparation for businesses of all types and sizes.

We know all too well that preparing taxes is more than simply filling out forms before the April 15 deadline. For a large corporation, accurate auditing and tracking of taxable income throughout the year can greatly influence the rate of taxation. RubinBrown can help ensure this accuracy so your corporation is not only taxed at the appropriate rate, but also takes advantage of deductions that could keep your business in a lower tax bracket.

Learn more about our tax advice and planning by reading through our informative articles.

Small Business Tax Preparation

There are more small business tax preparation myths than most of us – even professional preparers – can count! Some of these misconceptions would be even funny if they weren’t so potentially damaging.

The most persistent misconceptions about business taxes center around certain deductions for self-employed individuals and home-based businesses:

• Home Office
• Automobile
• Business Expenses

Home-based business owners are legally able to claim a deduction for the portion(s) of the home used for business purposes, and mileage that accrued in the course of work; however, many have tried and failed to claim their entire house or car for tax purposes. A business owner would be hard pressed to convince the IRS that every inch of a house is part of the home office, or that a personal vehicle is used solely for business. Making these claims could send up a red flag that could result in an audit.

The same rule holds true for phones, computers and software, Internet access and other items that are often used by the home-based worker for both personal and work purposes. Either keep separate equipment for personal and work use, or claim only the percentage that is used for business, if you wish to avoid inciting the scrutiny of the IRS.

All too often, self-employed individuals and small business owners with fewer resources erroneously heed faulty advice such as this from friends or colleagues when preparing taxes. While corporate income tax preparation is usually hired out to skilled professional preparers, mom-and-pop operations – the ones with the greatest proportion of their money at stake – sometimes forgo expensive professional services, believing it is cheaper to go it alone.

Let RubinBrown show you how smart tax preparation can save money over the long run.

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