John M. Hoffman & Associates CPAs

Info about the Firm

Services that we provide:

Corporate Tax Planning and Preparation while not as large a part of the services we provide as individual income tax work, none the less, it is still very important

When we say "corporate", we really mean business. The semantics of this is that not all businesses are corporations and the first thing that we like to help our clients with is entity selection:

Are all viable choices, however, we hope to be able to guide you to select the one that makes the most sense for you. LLCs and Corporations provide certain liability protection but require additional filing fees. Sole proprietorship still makes sense for many people due to its simplicity but it does not offer liability protection and it some times does not offer certain creative tax planning opportunities (while on occasion it does).

A large part of the tax burden today is in the area of payroll taxes. Depending on your particular circumstances, those payroll taxes may be minimized by one form of entity over the other. Under certain circumstances a sole proprietorship offers the lowest payroll taxes while in other circumstances an "S" Corporation offers the lowest payroll taxes.

Once we help you to determine the appropriate entity, we should have you half way home as to what your business tax plan is. Not to worry, we will spell it out and we are there to fine tune it at the end of the year.

We think you can sense our concept of a proactive approach towards this. Much of the game plan is sketched out in advance and then we simply act out the plan.

Our business tax return process is much the same as our individual tax return process except that there is no tax organizer package for businesses (other than sole proprietorships that are simply a part of your individual income tax return).

Often times our clients get us a back up of their QuickBooks, some key payroll reports, a copy of their reconciled bank account and we are ready to go. Once the return is prepared, we get it to you and if there are any necessary adjustments to your books or fine tuning to your plan, we let you know about that.

Where most businesses are some sort of pass through entity (all outside of "C" Corporations), our work typically spills into our doing your individual tax work (although not a requirement).

We can also help with those year end 1099 forms your business may need to issue.