Corporate Tax Returns

Form 1120 & Form 1065: Corporate Tax Return Services

Comprehensive Corporate Tax Solutions for Your Business
Filing corporate tax returns can be complex and time-consuming. At Pointax, we simplify the process with expert guidance tailored to your business structure. Whether you operate as a corporation or a partnership, we ensure accurate and compliant tax filings while maximizing tax efficiency.

Understanding Form 1120 and Form 1065

Form 1120: U.S. Corporation Income Tax Return

Form 1120 is used by C corporations to report their income, gains, losses, deductions, and tax credits. It determines the corporation's tax liability to the IRS.

Form 1065: U.S. Return of Partnership Income

Form 1065 is filed by partnerships to report income, deductions, gains, and losses. Although partnerships do not pay income tax, this form is crucial for passing income, deductions, and credits to partners.

How We Help with Form 1120 & Form 1065 Filing

1. Entity-Specific Tax Preparation

• Comprehensive preparation of Form 1120 for corporations and Form 1065 for partnerships.

• Detailed analysis of income, expenses, and deductions to ensure compliance and accuracy.

2. Income and Expense Categorization

• Accurate reporting of revenue streams and categorization of deductible expenses.

• Identification of tax-saving opportunities tailored to your business operations.

3. Partner and Shareholder Support

• Preparation of Schedule K-1 for partners (Form 1065) or shareholders (Form 1120S).

• Guidance on distributing income, deductions, and credits effectively.

4. Multi-State Filings

• Support for businesses operating in multiple states, including state-specific tax return preparation.

• Nexus evaluation and compliance with varying state tax laws.

5. Strategic Tax Planning

• Tax planning strategies to reduce liabilities and enhance profitability.

• Guidance on entity restructuring to achieve long-term tax efficiency.

6. Audit Readiness and IRS Representation

• Preparation of documentation and records to handle IRS audits confidently.

• Professional representation during audits or inquiries.

Key Attachments and Schedules

For Form 1120:

• Schedule C: Dividends and Special Deductions

• Schedule J: Tax Computation and Payments

• Schedule M-1/M-2: Reconciliation of Income and Analysis of Retained Earnings

For Form 1065:

• Schedule B: Additional Information About the Partnership

• Schedule K: Partner’s Distributive Share Items

• Schedule L: Balance Sheets per Books

Why Choose Pointax for Corporate Tax Filing?

1. Industry Expertise: Our team understands the nuances of corporate and partnership tax laws across various industries.

2. Tailored Services: We customize our approach to suit your business’s unique financial and operational needs.

3. End-to-End Support: From preparation to filing and resolving post-filing issues, we’re with you every step of the way.

4. Minimized Risk: Our accuracy-focused methods help reduce audit risks and ensure compliance with IRS regulations.