Business returns for Jersey Village owners, done by an EA

The firm prepares returns for the common small-business structures:

• Form 1065 for partnerships and multi-member LLCs
• Form 1120-S for S corporations
• Form 1120 for C corporations
• Schedule C for sole proprietors and single-member LLCs

Sole proprietors file Schedule C with their own Form 1040, so for them the business and personal returns are really one filing.

Each one feeds into the owners' personal returns, so they are prepared with that link in mind. Details are on the business tax return page.

If you changed structure during the year, for example from sole proprietor to S corporation, more than one return may be needed for that year. Blaga works out which months belong on which filing.

She needs a reconciled set of books for the full year. That means a profit and loss statement, a balance sheet, bank and loan statements, payroll reports and a list of equipment bought or sold. She will also ask for last year's return and any IRS or Texas Comptroller letters. If you run payroll, include the quarterly payroll filings, since wages on the return need to match them.

If the books are not reconciled yet, the firm's bookkeeping service can finish them first. A missing item does not stop the work, though it does slow it down, so send what you have early.

Penalties start right away and, for partnerships, they are counted per partner per month. The one testimonial on this site comes from a client in Richmond who wrote that asking the IRS for first-time consideration on a late partnership return saved them thousands of dollars. Relief now includes First Time Abate for earlier years and the new Automatic Exemption from Penalty, which the IRS applies on its own to eligible Forms 1065 and 1120 for tax year 2025 and later (IRS administrative penalty relief). See penalty abatement for the other routes.

Keep in mind that an extension gives more time to file, not more time to pay. Any tax a corporation owes is still due on the original date.

That depends on profit, owner pay and plans for the company, and the answer can change as the business grows. Plenty of Texas companies begin as an LLC and later elect S corporation tax treatment. If you are still setting up, Texas LLC registration covers formation, and a planning session can test whether an election makes sense for your numbers. No single rule fits every owner, which is why the question deserves real figures. Changing how an existing company is taxed has deadlines and paperwork of its own, so raise it well before the year you want it to start.

Yes, and doing both in one place helps. A K-1 from the business lands on each owner's personal return, so preparing them together avoids mismatches and amended filings. Owners in Jersey Village can send the company records and their own documents through the portal in one batch.

Looking at both sides together also helps with planning, because owner pay, distributions and the personal tax bill all affect each other.