Small Business Tax Returns

Posted Thursday, December 5, 2024

Here is a quick list of the necessary steps to have WCG CPAs & Advisors prepare your small business tax returns. Important dates and considerations during the tax extension season-

​ Individuals / C Corps
1040 / 1120		 Partnerships / S Corps
1065 / 1120S
Tax Documents Due
 Mon, March 10
 Mon, February 10
eFile and Fee Payments Due Mon, April 7
 Fri, March 7
Filing Deadline Tue, April 15
 Mon, March 17

Our turnaround times for tax return preparation varies throughout the year. Click here for real-time information. Also, we will update you with email and text alerts along the way.

During tax season, we have a soft-close at 4:05PM on Fridays to enjoy some chips and salsa, and to unwind a bit. Our tax season drink is the Ukraine Mule with cucumber vodka from the Netherlands- stop by and join us. Apparently having fun before 4:00 is frowned upon in our establishment. Back at it on Saturday!

Individuals and C Corps

0 days 00 hr 00 min 00 sc

Partnerships and S Corps

0 days 00 hr 00 min 00 sc

Individual Tax Returns (Form 1040)

The following steps are designed for business entity tax returns (Form 1065, 1120 and 1120S). If necessary, please use this link to be redirected to separate steps for individual tax return preparation (Form 1040) including business activities that are reported on Schedule C.

taxation accountant

Form 1040 Tax Prep

Tax deadlines and preparation tips for individuals and businesses – stay informed and plan ahead!

Learn More

College Interns

WCG gives back to our accounting community by routinely hiring college students to provide seasonal tax support to our Tax Accountants and Tax Managers. We encourage them to communicate directly with you, the wonderful client, to gather necessary information and keep things moving along. Everyone was new at some point in their careers, so please try to extend extra grace and patience as our Tax Support Team interacts with you. If at any time communication is breaking down, please reach out to your Client Manager directly.

Here we go…

How to File Your Taxes with WCG in Just 5 Easy Steps

Filing tax returns can be a pain, but it shouldn’t be. Let WCG help!

Business Entity Tax Return Overview

The buttons below will take you to a simple, customized online digital form for you to seamlessly and securely send your information. This ensures comprehensive business tax preparation and an economic tax preparation fee. All submissions are uploaded to your Sharefile within 24 hours for historical safekeeping. You will receive an email and a text alert letting you know we’ve received it. Communication is key!

WCG CPAs & Advisors takes the safety and security of your personal information very seriously. Please read our security and privacy procedures.

1. Engagement Agreement

The IRS and our Professional Liability Insurance provider are getting more stringent on Engagement Agreements for small business tax returns. We have created an easy digital engagement agreement, but we also have one in PDF. Seriously, it is super easy and required prior to business tax preparation. Darn rules!

We also have a combined engagement agreement for those business owners who want us to also prepare their 1040 tax return. One form, two engagements. Easy!

financial tax advisor near me

Digital Eng + 1040 Biz

View important dates and guidelines for filing your 2023 federal and state income tax returns.

financial tax advisor near me

Digital Eng - Business Only

View details about tax return prep, deadlines, and responsibilities for timely submissions.

tax consultants

PDF Engagement

Access important tax preparation details, deadlines, and requirements for your 2023 returns.

2. Gather Your Tax Documents and Financial Data

Business owners have unique tax needs simply because most of the tax documentation is generated by the business owner. Please use the following button to review an important checklist for business tax preparation.

Also, if you are freakin’ out about life on life’s terms, deadlines and all that… you can use the button to the right to authorize us to file a tax return extension and we’ll put your small business tax returns on ice for a bit.

tax accountant

Biz Checklist (1065, 1120s, 1120)

Prepare for tax season: deadlines, requirements, and organizer details for 2023 income tax filings.

accountant for taxes

Tax Return Extension

Extend your business and individual tax returns together easily with one form.

tax accountants close to me

Tax Questionnaire

Access tax questionnaire and submission instructions, including links to PDF and Sharefile.

3. Tax Organizers and Worksheets

The business checklist (1065, 1120s, 1120) button above contains links to secure online worksheets to provide us critical information such as-

  • Revenue and expenses,
  • Accountable Plan reimbursements,
  • Equipment purchases,
  • 401k contributions,

among other things for the completion of your business entity tax returns. They are home-grown and specifically designed to be a) efficient and b) educational as we take you through the various tax matters that affect you. We are not trying to be difficult nor are we asking you to prepare your own tax returns… at the same time, this information only helps create an accurate and equally important complete tax return.

4. Send Us Your Stuff (fun!)

This is the best part. You can scan and upload to your Sharefile, fax, mail or take a road trip.

Sharefile (preferred)

Contact us to receive login instructions to your Sharefile. If you have already chatted with us, you should have received two emails – a welcome email, and another with login instructions. Check your junk folder too. Use the button below to login into your secure Sharefile.

You can also securely send us your files for tax preparation by using Send A File which doesn’t require logging into your Sharefile. Please use your name and a brief description as the file name such as ‘SmithJohn-W2′ since all files sent to us this way end up a general yet private portal folder. These files will be placed in your Sharefile (from genpop to isolation).

We receive a notification that you have uploaded files (not need to tell us, but if you are done uploading please let us know with a “G2G” email to [email protected] or calling 719-387-9800).

financial tax advisor near me

Sharefile Portal

Click here to securely submit your documents via ShareFile!

Learn More

The following three buttons are variants of the same thing. We have a hefty tax organizer for your business that can be submitted as a secure digital form, a fillable PDF or an Excel spreadsheet. Even if you have a bookkeeper such as Bench or you use QuickBooks, Xero, Waveapps, etc. there are still things we need to know that might not be detailed on your financial statements (such as anticipated 401k or SEP IRA contribution, ownership changes, address updates, etc.).

tax advisors near me

Biz Activities Secure Form

Access business activity worksheet options, including digital, PDF, and Excel versions.

tax accountant

Biz Activities Excel File

Access our Excel template to help you organize your business activities.

financial tax advisor near me

Biz Activities Fillable PDF

Access our Excel template to help you organize your business activities.

An Accountable Plan is a reimbursement mechanism where business owners reimburse themselves for home office, cell phone, internet and mileage (among other things). The button below will take you to our page which explains more and also has links to our online form, an Excel template or a PDF for your selection.

However, you can also use the home office and auto expense worksheets below, and we will synthesize an Accountable Plan reimbursement for your business tax preparation.

tax advisory near me

Accountable Plan

Learn how an accountable plan saves taxes and maximizes reimbursements for your business.

tax accountants nearby

Home Office Worksheet

Use this worksheet to provide your home office details for tax prep via digital or PDF form.

tax advisors near me

Auto Expense Worksheet

Complete your vehicle expenses worksheet online or download the PDF to submit via Sharefile.

5. Tax Return Review and Filing

You will receive an email and a text message alerting you that your small business tax returns are ready for your review. What does that mean? And what happens next? Both great questions.

You are the most intimate with your financial world so your review is essential to the tax return preparation process. Also, we want you to be comfortable with your tax liability; we are not asking you to be happy, but at least comfortable knowing the the numbers are accurate.

We receive a notification that you have uploaded files.

Send a File

You can also securely send us your files by using Send A File which doesn’t require logging into your Sharefile. Please use your name and a brief description as the file name such as ‘SmithJohn-W2′ since all files sent to us this way end up a general yet private portal folder. These files will be placed in your Sharefile (from genpop to isolation). Use the button below to use this tool-

tax accountants close to me

Secure Send a File

Click here to use Send A File to submit your documents if you can’t, or don’t want to use Sharefile.

Learn More

Fax

855-345-9700

All faxes will be transferred to your Sharefile as a PDF. We will email you with the number of pages received, and send a follow up text.

Road Trip or Mail

Please retain your originals and send copies to:

WCG CPAs & Advisors
2393 Flying Horse Club Drive
Colorado Springs CO 80921

For road trips, our Colorado Springs offices are open Tuesday-Thursday during tax season. If making a road trip to our office, tax preparation seems to improve dramatically with donuts. You can also hang out and have some coffee in our social lounge. Fun!

6. Tax Return Review and Filing

You will receive an email and a text message alerting you that your small business tax returns are ready for your review. What does that mean? And what happens next? Both great questions.

You are the most intimate with your financial world so your review is essential to the tax return preparation process. Also, we want you to be comfortable with your tax liability; we are not asking you to be happy, but at least comfortable knowing the the numbers are accurate.

accountants for tax

Business Tax Return Review

Learn about business tax return services, fees, and how our Tax Patrol Service benefits you!

financial tax advisor near me

eFile Authorization

Authorize electronic filing of tax returns with our step-by-step guide and Canopy portal instructions.

accountant for taxes

Make a Payment

Make a payment with PaySimple, a high security and privacy platform we’ve used for over a decade.

7. Cross TAXES Off Your Chores List

Book that summer vacation and let us know where… we need some ideas for after April. Yuck for us. Good for you.

8. Light Reading

Here is some light reading about some popular topics.

tax consultant near me

Tax Patrol Service

Learn about Tax Patrol – affordable tax help for individuals and small businesses!

tax advisory near me

Bookkeeping Services

Discover how our bookkeeping + analysis simplifies accounting and maximizes your tax savings.

tax consultant near me

Tax Reduction Services

Discover practical strategies for tax reduction/avoidance to maximize your financial savings.

wcg tax
Tax Planning Season

Tax planning season is here! Let's schedule a time to review tax reduction strategies and generate a mock tax return.

Tax Planning Services
tax strategist
Bookkeeping Services

Tired of maintaining your own books? Seems like a chore to offload?

Accounting Services

Professional Consultation

Did you want to chat about this? Do you have questions about Small Business Tax Returns? Let’s chat!

The tax advisors, business consultants and rental property experts at WCG CPAs & Advisors are not salespeople; we are not putting lipstick on a pig expecting you to love it. Our job remains being professionally detached, giving you information and letting you decide within our ethical guidelines and your risk profiles.

We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. As Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea. In other words, let’s not automatically convert “you can” into “you must.”

Let’s chat so you can be smart about it.

We typically schedule a 20-minute complimentary quick chat with one of our Partners or our amazing Senior Tax Professionals to determine if we are a good fit for each other, and how an engagement with our team looks. Tax returns only? Business advisory? Tax strategy and planning? Rental property support?

accounting services for small business

Text WCG Offices

Need to get in touch through a quick text? We'll respond within a day.

accounting services for small business

Call Our Team

If you need to speak to a tax pro, give us a call and we'll get you connected.

accounting services for small business

Chat With a Tax Pro

Taxes can be tricky. Chat with a WCG human now and get questions answered.

After almost 6 years with this CPA group, there is NO ONE else we would trust to do our taxes.

L. Matisek

See Review

We've worked with multiple bookkeepers and accountants over the years and WCG has completely blown us away.

N. Sellden

See Review

As a novice business entrepreneur they provided me with the tools to both structure and tax my business efficiently

Mayon Hight

See Review

They've made my taxes a breeze and are worth every dime I pay them for the peace of mind their services provide.

Lynn Shannon

See Review

The good folks at WCG have impressed me, as being highly competent, patient & friendly.

Fred LeBlanc

See Review

They've made my complicated business life simple and I'd recommend them to anyone with a slightly complicated-to-overwhelmingly complicated tax strategy!

Nic J

See Review

For nearly nine years, I have had the privilege of working with WCG and their team of exceptionally knowledgeable and experienced CPAs.

Alex Hickman

See Review

Amanda - WCG CPA - You guys have been invaluable in helping us get this business and tax planning setup properly and executed correctly.

Lance Dodd

See Review

WCG is extremely knowledgable, timely and attune to the unique aspects of our businesses.

Carl Protsch

See Review

WCG CPAs are professional and a pleasure to work with.

Nakapan P.

See Review

They go beyond the call of duties to assist me not only with Tax return matters but with any questions on other personal and company tax matters.

Juan Mayorga

See Review

I've always dreaded tax season, but WCG has made things so easy, even as we changed to an S corp. So happy we found them!

Paige de Kock

See Review

It was great to find an accounting firm eager to take on new clients, answer initial questions in depth, and support our “keep it simple” philosophy.

Stuart B.

See Review

Working with WCG was so easy, shout out to Sally Rhoades who handled my complicated tax situation this year wonderfully and was available for all my questions.

Stefani Cinto

See Review

I am so thankful to be a client of WCG CPAs & Advisors.

Carol Kersten

See Review

It's a wonderful and rare treat to find a company like WCG these days with their high level of service, personal approach, and deep knowledge of accounting.

Jeffree Hilton

See Review

Such a great firm. Great communicators, great attention to detail and overall great people.

Jeff Owens

See Review