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Corporate & Partnership Taxation

Corporate & Partnership Taxation

Business Tax Solutions for Corporate Planning and Compliance

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For Partnerships

Partnerships are ideal for businesses with multiple owners who choose not to incorporate as S-Corps or C-Corps.These entities file taxes using Federal Form 1065, along with relevant state schedules. A partnership is automatically recognized when a business with multiple owners obtains an EIN, or when an LLC has more than one member or equity partner.At Stress Free Books and Taxes, we offer comprehensive partnership tax filing services across all 50 states—ensuring full compliance with both federal and state tax requirements, while helping you navigate complexities with clarity and confidence.

For S-Corporations

An S-Corporation (S-Corp) is a tax designation that allows eligible businesses to reduce self-employment taxes—often resulting in significant savings on net income.This status isn't automatic; it requires filing an election with the IRS and ongoing compliance. S-Corps report income using Federal Form 1120-S and applicable state schedules. At Stress Free Books and Taxes, we assist with the S-Corp election process, tax filings, and compliance across all 50 states—helping you take full advantage of the structure’s tax benefits while staying aligned with IRS regulations.

For C-Corporations

A C-Corporation (C-Corp) is a separate legal entity that pays taxes at the corporate level, using Federal Form 1120 along with any required state schedules.This structure is commonly chosen by larger businesses or startups planning to raise capital and have multiple shareholders—especially in incorporation-friendly states like Delaware. C-Corps are typically the default entity type when registering a corporation with the IRS or your state.At Stress Free Books and Taxes, we provide expert support for C-Corp tax filings and compliance across all 50 states, ensuring your business meets both federal and state tax obligations efficiently and accurately.

For LLCs

Navigating the tax requirements for Limited Liability Companies (LLCs) can be complex, as filing obligations vary based on ownership structure and entity classification.Single-member LLCs are typically taxed as sole proprietorships and report income on Federal Form 1040 Schedule C, while multi-member LLCs are treated as partnerships and file using Federal Form 1065—unless they elect to be taxed as an S-Corp or C-Corp.At Stress Free Books and Taxes, we provide comprehensive tax support for LLCs in all 50 states, ensuring accurate classification, proper filing, and full compliance with both state and federal tax regulations.
Common Questions

Frequently Asked Questions: Corporate Tax

C-Corporations file Form 1120 and are subject to corporate income tax at the entity level. Shareholders then pay tax again on any dividends (double taxation).

S-Corporations file Form 1120-S but typically are pass-through entities, meaning their income, deductions, and credits flow directly to shareholders’ individual returns (Form 1040), avoiding double taxation in most cases.

For calendar-year C-Corporations, Form 1120 is typically due on April 15. For S-Corporations (Form 1120-S), the deadline is March 15.

You can file Form 7004 to request an automatic extension (usually for six months). However, any tax owed must still be paid by the original due date to avoid penalties and interest.

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