C corporations
Form 1120
C corporations generally use Form 1120 to report income, deductions, credits and corporate income tax liability.
IRS guidanceTax preparation and filing
U.S. tax return preparation services
Tax return preparation and filing for C corporations, S corporations, LLCs, partnerships and individuals, supported by in-house Enrolled Agents and CPAs. Available as a standalone service, separate from the monthly finance plan.
- Business returns
- C corporations, S corporations, LLCs and partnerships
- Individual returns
- Personal income tax preparation and filing
- Standalone service
- No Figures monthly plan required
Business tax return preparation by entity type.
Federal income tax return requirements depend on the entity's tax classification. Ownership, tax elections, the relevant tax year and related filing obligations determine the preparation scope.
S corporations
Form 1120-S
An entity with an S corporation election uses Form 1120-S. Shareholder information and the business return need to be considered together.
IRS guidancePartnerships
Form 1065
Partnerships file Form 1065 to report business income and other items that pass through to partners. Partners report their share on their own returns.
IRS guidanceLLCs
Depends on classification
An LLC does not have one universal income tax return. Ownership and tax elections determine whether it is treated as a disregarded entity, partnership or corporation.
IRS guidanceState returns, K-1s, additional schedules and prior-year requirements are confirmed as part of the agreed preparation scope.
Individual tax return preparation.
Figures Advisors provides tax return preparation and filing for individuals. Form 1040 is the annual individual income tax return used by U.S. taxpayers.
For business owners, business and individual filing requirements may need to be considered together. Income sources and business tax classification determine the information required.
IRS Form 1040 guidance
Tax preparation with in-house EAs and CPAs.
Figures Advisors provides tax services through an in-house team of Enrolled Agents and CPAs. Preparation and filing are available without a monthly finance-plan subscription.
Tax preparation uses the relevant records to prepare a return for filing. Year-round tax planning considers the tax consequences of decisions during the year. These services have separate engagement scopes.
Explore year-round tax planningPreparation and filing scope.
The initial consultation covers the entity, relevant tax years and required returns. Preparation and filing are available as a standalone engagement.
Filing requirements
Entity classification, ownership, tax year and business or individual filing requirements provide the starting point.
Available records
Financial statements, prior returns and income documents help establish the preparation requirements. Gaps in the books or missing records should be identified.
Engagement scope
Applicable returns, state filings, related schedules, fees and filing arrangements require confirmation before the engagement begins.
Records for tax return preparation.
Document requirements vary by return type. The following records provide a starting point for the initial consultation.
For a business return
- Prior-year returns and entity details
- Profit and loss statement and balance sheet
- Ownership and tax-election information
- Payroll, fixed-asset and loan records, where relevant
For an individual return
- Prior-year individual return
- W-2s, 1099s and other income documents
- K-1s received from businesses, where applicable
- Records of deductions and estimated tax payments
The consultation form is intended for initial inquiries only. Tax documents and sensitive financial information should not be submitted through the form.
Tax return preparation FAQs.
Is a monthly finance plan required?
No. Tax return preparation and filing are available as a standalone service. A Figures monthly finance plan is not required.
Which return does an LLC file?
The applicable return depends on ownership and tax elections. A domestic multi-member LLC is generally treated as a partnership unless it elects corporate treatment. A single-member LLC is generally disregarded for federal income tax unless it elects corporate treatment. The applicable return should be established from the entity's tax classification.
Is preparation the same as tax planning?
No. Tax preparation uses the relevant records to prepare a return for filing. Year-round tax planning considers the tax consequences of decisions during the year. Figures Advisors offers these services under separate engagement scopes.
Are state returns and K-1s included?
State returns, K-1s and related schedules are confirmed as part of the agreed preparation scope. Inclusion depends on the requirements of the engagement.
Can business and individual returns be considered together?
Yes. Business and individual filing requirements can be considered together when defining the preparation scope. Preparation of both returns is not automatically included in a single engagement.
How much does preparation and filing cost?
Preparation and filing are scoped separately from the monthly finance plan. The required returns, tax years, preparation scope and fees are discussed before the engagement is agreed.
Consultation for tax return preparation.
Initial inquiries may cover entity classification, relevant tax years and business or individual filing requirements. The consultation establishes the preparation and filing scope.
Standalone preparation and filing
In-house EAs and CPAs
Business and individual return requirements
Request a consultation
Entity type, tax year and required filing assistance.