Business Tax Return Services
Comprehensive tax preparation for small businesses in DFW. LLCs, S-Corps, C-Corps, partnerships, and sole proprietors. Stay compliant and minimize your tax burden.
Running a business is hard enough without worrying about whether you're paying more taxes than you have to. Good news: you probably are, and we can fix that. From entity structure (LLC? S-Corp? It matters more than you think) to year-round strategies that actually reduce your bill, we handle the tax side so you can focus on what you do best—running your business.
Business Entity Types
| Entity | Tax Form | Key Feature |
|---|---|---|
| Sole Proprietor | Schedule C | Simple; all profit = SE tax |
| Single-Member LLC | Schedule C* | Default = sole prop taxation |
| Multi-Member LLC | Form 1065 | K-1s to members |
| S-Corporation | Form 1120-S | SE tax savings on distributions |
| C-Corporation | Form 1120 | Separate entity; own tax rates |
| Partnership | Form 1065 | Flexible income allocation |
*Can elect S-Corp or C-Corp taxation
S-Corp Advantage: SE Tax Savings
S-Corp election can be the most impactful tax strategy for profitable businesses.
| Scenario | Sole Prop | S-Corp |
|---|---|---|
| Net Income | $150,000 | $150,000 |
| Salary | — | $80,000 |
| SE/Payroll Tax | ~$21,000 | ~$12,200 |
| Annual Savings | — | $8,800+ |
S-Corp adds costs (payroll, formalities). Generally beneficial when income exceeds $50-60K.
Year-Round Tax Planning
- ✓ Quarterly estimated tax calculations
- ✓ Equipment purchase timing (Section 179 / bonus depreciation)
- ✓ Retirement plan contribution strategies
- ✓ Year-end income deferral & expense acceleration
- ✓ Entity structure review as you grow
- ✓ Employee vs. contractor classification
We meet quarterly to review financials and implement strategies.
Common Business Deductions
| Deduction | Details |
|---|---|
| Home Office | Dedicated space: rent, utilities, insurance |
| Vehicle | $0.67/mile (2026) or actual expenses |
| Equipment | Section 179: up to $1.22M immediate |
| Insurance | Liability, professional, health |
| Professional Services | Accounting, legal, consulting |
| Startup Costs | Up to $5K first year |
| QBI Deduction | Up to 20% of qualified income |
Payroll Compliance
| Requirement | Due Date |
|---|---|
| 941 Deposits | Monthly or semi-weekly |
| Form 941 (Quarterly) | Apr 30, Jul 31, Oct 31, Jan 31 |
| W-2s / W-3 | January 31 |
| Form 940 (FUTA) | January 31 |
| TX Workforce Commission | Quarterly |
⚠️ Payroll penalties are aggressive and can become personal liability.
Texas Franchise Tax
- Threshold: Revenue over $2.47M annually
- Rates: 0.375% (retail/wholesale) or 0.75% (other)
- Due: May 15 annually
Calculated on lowest of:
- Revenue minus COGS
- Revenue minus compensation
- 70% of total revenue
- Revenue minus $1M
Business Retirement Plans
| Plan | 2026 Limit | Best For |
|---|---|---|
| SEP-IRA | $69K or 25% comp | Simple; must include employees |
| Solo 401(k) | $69K ($76.5K if 50+) | No employees (except spouse) |
| SIMPLE IRA | $16K employee | Small teams; easier admin |
| Defined Benefit | $200K+ | High earners near retirement |
Pro Tips
Separate Business Finances
Keep business and personal accounts strictly separate. Commingling funds creates accounting nightmares and can jeopardize liability protection.
Track Mileage Consistently
Use a mileage tracking app from day one. Reconstructing mileage at year-end is difficult and often results in lost deductions.
Pay Estimated Taxes
Don't wait until April to pay business taxes. Quarterly estimated payments avoid penalties and smooth out cash flow.
Frequently Asked Questions
Need Help With Your Taxes?
Our DFW CPAs specialize in helping individuals and businesses minimize their tax burden. Schedule a free consultation to discuss your specific situation.