S-Corp Tax Prep Services in Bradenton / Sarasota, FL
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.
Adam Wilhelm is a highly qualified and fun, yes fun tax expert. I highly recommend him.
I am a huge fan of him, he is the best in what he does, great quality service.
— Omar O. S. Schwanzer,
Posted February 19th 2025 on google
Best experience ever! Adam is amazing and is so personal. Highly recommend his services!
— Nicole Schwanzer,
Posted February 19th 2025 on google
I FINALLY found an awesome tax place. Adam is fantastic!! I have my own LLC and Adam literally saved me thousands because I had no idea what I was legally entitled to. In past years I tried a few other tax places in Bradenton and they were totally worthless compared to Adam. The other great thing and peace of mind abou...
I'm so grateful coming with them Adam hi is excellent hi explained good nice person thanks all advices
— Guadalupe Tellez,
Posted December 17th 2024 on google
I went from worrying about my tax returns and paying way too much, to making the tax process easy and seamless and I saved a ton of money. Highly recommend Phil Nye the Tax Guy at Paramount Tax & Accounting.
I called for support regarding a unique type of IRA. Phil returned my call promptly and helped review the details and suggested some next steps. I would recommend his services!
— Jenna Haffenden,
Posted June 23rd 2024 on google
Phil was wonderful to work with. We had several years' worth of complicated returns to file, and he put us at ease with a relatively stressful situation. He was fast, efficient, and reassuring. I highly recommend his services!
— Genevieve Raymond,
Posted June 12th 2024 on google
Phil/Paramount Tax & Accounting is our go to tax accountant for Orange Blossom Coffee. He is responsive, shows great attention to detail and is available for questions whenever we call or email. He has been a great addition to our downtown community.
10 stars
Adam was another great resource of Paramount Tax & Accounting! The expertise here is absolutely amazing these guys are always a huge help and a wealth of knowledge in the Tax System!! We are so great full for all of their help!!
— Taco Sauce Adventures (The Traveling Couches),
Posted April 1st 2024 on google
Paramount Tax has been a life saver for me and my family. They have taken the time to help us understand our tax needs.
— Jim McCallson,
Posted February 17th 2023 on google
I've known Adam for a years and when I heard he was opening his own tax office, I was ecstatic! He is so friendly and smart! I've talked with him about tax preparation and he gave me some great tax savings advice! Go see Adam in his new office in Annandale!
I’ve known Adam for a number of years. I’ve always found him to be both a hard worker but also very conscientious of others and their needs. Would highly recommend.
Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting in Bradenton Metro, is that we know taxes!
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 S-Corp Tax firm in Bradenton / Sarasota. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting in Bradenton Metro!
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics.
Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting in Bradenton Metro a call or visit our
tax and accountingbookkeeping firm in Bradenton / Sarasota
for a free consultation.
Why Choose Paramount Tax & Accounting in Bradenton Metro?
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
In the unlikely event you receive a tax notice, we have an entire audit defense department ready and available to help. We partner with Protection Plus $1 Million Tax Audit Defense so that we can work towards a favorable resolution in every situation our clients might face.
