TAX & COMPLIANCE SERVICES
Business Tax Services
Check off tax filing without taxing your resources. Paro’s small business tax services help you save money and hours with the help of certified CPAs and tax preparers.
Lighten the Load on Business Tax Preparation
Take your team out of filing mode and put them back into what matters. Our experts help your business file federal and state income tax returns at any level of complexity.
With Paro on board, life at tax time looks different:
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No more “hot potato” among team members who lack time or tax expertise. -
An expert on hand who ranks among the top 2% in finance and accounting.
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Knowledge of tax law changes, so you don’t miss out on deadlines or savings.
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The ability to easily combine bookkeeping and tax services.
Tailored Tax Services for Any Organization
The tax code is a labyrinth that our experts are well-prepared to navigate—no matter what nuances apply to your industry, business size, sales tax nexus or structure. Our tax experts bring years of experience filing federal and state tax return forms and maximizing your tax write-offs.
C Corp
The most common type of corporation.
Tax rate Corporate
Key filings Form 1120
S Corp
Subject to strict restrictions around ownership.
Tax rate Personal
Key filings Form 1120-S
LLC
Added complexity due to tax classification options.
Tax rate Varies
Key filings Form 1040, Form 1065, Form 1120, Form 1120-S
Sole
Proprietorship
The default classification for people who earn business income but aren’t incorporated.
Tax rate Personal + Self-Employment
Key filings Form 1040 (Schedule C)
Nonprofit
Must adhere to special criteria around business and bookkeeping practices.
Tax rate Tax-exempt
Key filings Form 990
Partnership
Taxable income flows through each partner’s personal tax return.
Tax rate Personal + Self-Employment
Key filings Form 1065
Who’s Best for Your Tax Needs?
Whether you need simple filing or representation before the IRS, our business tax services
are conducted by qualified tax preparers, CPAs and enrolled agents, so you can hire the
right individual for your needs.
Watch our guide on the types of tax professionals for hire.
Ensure Compliance With Additional Bookkeeping & Tax Support
File business taxes with greater trust in your books. Guarantee better accuracy and even better savings by combining broader bookkeeping services with tax services.
Bookkeeping Services
Prevent tax bottlenecks and errors from the very start.
- Accounts payable and receivable
- Payroll
- Financial statements and reporting
- Account reconciliations
Additional Tax Services
Improve your IRS standing and maximize your savings.
- Tax documentation review
- IRS dispute resolution
- Tax advisory and planning
Learn about our bookkeeping services ›
The Ultimate Business Tax Help Center
Your one-stop shop for tax resources, from deadlines and filing requirements to year-round tax planning.
GET EXPERT TAX ADVICEFAQ
The amount in small business tax that you pay depends on several factors, starting with your business entity. For instance, sole proprietorships pay personal income tax and self-employment tax, whereas C corporations pay a corporate tax. After you determine your tax rate, you have to factor in things like payroll, sales tax, deductions and other benefits and obligations on a case-by-case basis. We wish it were simpler, but that’s why we’re here to help.
Business tax returns pose several challenges, particularly for small businesses. First, it can be difficult to discern which forms you need, especially if you have underlying issues that require amendments or extensions. Second, tax forms are riddled with complex government and financial jargon. Timing is another issue: it’s crucial to know which tax deadlines are pertinent to you and how extensions work.
And finally, accuracy. Subpar bookkeeping makes filing business taxes an extremely arduous process.
Also known as your Employer Identification Number (EIN) or federal tax ID number, your business tax ID number is a unique number the federal government uses to identify your business. It’s assigned when you incorporate. Sole proprietorships use the owner’s social security number as the business tax ID.
Different business entities have different due dates for their various obligations, and the exact dates change each year. The IRS website is a good place to start for a general idea of dates, but when you hire a Paro tax specialist, you won’t need to worry about any of them.
Business tax deductions, also known as “write-offs,” are qualifying expenses you can
claim on your tax return to reduce your taxable income and therefore reduce the amount
of tax you pay.
You need to report your expenses by category, such as travel, meals and entertainment,
utilities, etc. There are specific rules around which expenses qualify and how much you
can claim in deductions for each category. To save effort at tax time, keep track of
relevant expenses by category all year long, and save your receipts for at least three
years in case of an audit.
It means the business isn’t obligated to pay income tax. There are specific requirements to qualify for tax-exempt status, which usually applies to charitable, religious and social welfare organizations. See a complete breakdown of tax-exempt organization types from the IRS.