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S-Corp Tax Prep Services in Bountiful, UT

We are a full suite tax preparation and tax planning and accountingand bookkeeping firm. Please choose a tax service below to learn more.

An S-corporation, also known as an S-corp, is a pass-through entity. Corporations set up this way share the income, deductions, profits and losses of a corporation with it's owners. Shareholders are able to file their S- corp taxes at personal income tax rates as they pay taxes on their share of the S-corp's income. This allows S- corps to avoid double taxation on the corporate income.

Typically an S-corporation has employees, in this case the company is responsible for withholding federal income tax, Social Security and Medicare taxes from their paychecks requiring an S-corporation to file an IRS Form 941 each quarter to reports total witholdings.

The standard forms included with S-Corp filing are 1120S and Schedule K-1. If an S-corp has employees, a Form 940, Form 941 or Form 1099 may also be required. S-corps will also need to issue a W-2 to employees and Form 1099-MISC to independent contractors.


To qualify for S-corporation tax filing you must:

  • Be a domestic corporation
  • Have only allowable shareholder
  • May be individuals, certain trusts, and estates
  • May not be partnerships, corporations or non-resident alien shareholders
  • Have no more than 100 shareholders
  • Have only one class of stock
  • Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).

Planning is the key to successfully and legally reducing your corporation's tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

Contact Paramount Tax & Accounting Bountiful if you'd like to receive more information about our Bountiful S-Corp Tax Prep Services.

S-Corp Tax Prep Services in Bountiful

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Very impressed with their service and professionalism. Absolutely the best.
— Jake Logan, Posted March 27th 2024 on google
I went in and talked to Leo after years of feeling like I was paying too much in taxes. He was able to help me save money by cutting my taxes literally in half. I'm a small business owner and this place has helped me so much. 10/10 recommend
— Adam Mann, Posted February 22nd 2024 on google
For this tax season, I decided to go to Paramount Tax and work with Leandro. I had a wonderful experience! He was incredibly professional, thorough, and personable. I ended up receiving a far better outcome than I had thought due to his expertise and thoroughness doing my taxes. Would definitely recommend Leandro's ser...
— Ashlyn Taylor, Posted February 13th 2024 on google
Leandro was very informative, thorough and assisted us with our business taxes. He really cares about his clients and makes sure that your taken care of. Very quick and easy process. Would Recommend to my family and friends.
— Ashley Mira Beauty, Posted August 14th 2023 on google
Leo is the man! Very professional and thorough
— Tyson Cunningham, Posted April 17th 2023 on google
Leandro was awesome! I’ll be back!
— Carson Babbitt, Posted March 23rd 2023 on google
Cares about getting ya what you deserve
— Canderis Ordo, Posted March 20th 2023 on google
Leo paid very close attention to everything on my taxes and I left with confidence that I wasn't missing anything and he got me the best return possible. Thank you Leo!
— Kevin Day, Posted March 14th 2023 on google
Leo helped me out of a complex tax arrangement with multiple businesses and ended up saving me a thousands of dollars. I’ll be going back next year! He’s incredibly talented!
— Sam Brown, Posted March 8th 2023 on google
Leo and Parker were great. They aren’t the cheapest firm around, but they had a deep knowledge base and were able to get me $3,000 more in my return than I would have received if I did my taxes on TurboTax. I definitely would recommend their service!
— Daniel Poulsen, Posted February 14th 2023 on google
Helped me get a huge refund! They are very affordable and help with all kinds of unique situations as well as normal tax issues. Very highly recommend and will always come back!
— Chase Short, Posted February 13th 2023 on google
It was great working with Leo. We were excited to work with Leo and happy we got the advice we needed for our current tax return and future tax returns. We’ll definitely be coming back next year.
— Francisco Escobar, Posted February 10th 2023 on google
Leo is super helpful and was able to save us a lot of money. Definitely would recommend.
— Cameron Suttner, Posted February 6th 2023 on google
Leo was great to work with. He took his time to understand my situation and did a great job maximizing my returns. He is very friendly and genuinely cares about helping people. I would definitely recommend him to my friends and family.
— Ryan Robinson, Posted January 19th 2023 on google
Leo at Paramount is one of the kindest and most informative accounts we’ve ever had. Easy to get along with and very educated he will help to get the best return possible for your gain with your business or individual tax returns!
— Troy Lennerd, Posted August 31st 2022 on google
Leandro (Leo) Couto, was able to HELP me, with my taxes as new business owner. He cares, communicates, and explains the process of what to expect. Leo goes above and beyond to make a difference in people's lives. Thank you Leo!
— Eddy Berrest, Posted August 21st 2022 on google
Leandro was very professional and knew exactly how to help us with our business taxes. Will come here again.
— Kylen Hughes, Posted April 20th 2022 on google
Leandro was really great to work with. I've always prepared my own taxes in the past but I've become less confident in my ability to do my own taxes as my situation has become more complicated. Leandro had no problem sorting through my taxes and gave me peace of mind knowing my taxes were prepared correctly.
— Troy Arbuckle, Posted April 7th 2022 on google
Leandro Couto is wonderful! He’s personable and kind and made my whole self-employed business tax filing process completely painless…(almost enjoyable, even!) Not only that, but he saved me over $10,000 on my taxes! I’m seriously blown away. I will be working with him from now on for all of my accounting needs.
— Mindy Schiffman, Posted April 7th 2022 on google
Leandro was personable and knowledgeable and was able to get my maximum refund. 5 stars!
— Brady Parker, Posted April 3rd 2022 on google
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Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 firm in Bountiful. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting Bountiful!

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Bountiful, UT Tax Services

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Paramount Tax & Accounting Bountiful

190 N Main St
#125
Bountiful, UT 84010

801-683-9734

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Get started with Paramount for your tax services in Bountiful, UT, recommended by family and friends every time.

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