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S-Corp Tax Prep Services in Provo, 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 Provo if you'd like to receive more information about our Provo S-Corp Tax Prep Services.

S-Corp Tax Prep Services in Provo

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They did a great job helping with out taxes! They helped us write off everything we could and spend lots of time answering our questions
— Kolten Bramall, Posted February 14th 2024 on google
Always amazing working with these guys. The process is easy, straightforward and quick.
— Alexis Ericksen Proksch, Posted February 9th 2024 on google
My experience at this firm has been exceptional. They are very professional, savvy, and organized. I highly recommend them for anyone with a business or who have dependents with special needs
— Debbie Hema, Posted February 5th 2024 on google
I feel very grateful to have found Paramount and Ashley.
— Kate Hooley, Posted January 16th 2024 on google
We got a scary letter for our taxes and we were able to quickly get an app to figure out what was going on. Ashley was able to answer all our questions and explained how to resolve our issue so we could understand.
— Faith Cook, Posted January 15th 2024 on google
LIFE SAVERS! Not only does Paramount do a great job at day-to-day bookkeeping and tax management, but twice now, have jumped in (especially Ashley) to help us with two different challenges. The first being last year, when they spent all the time needed, preparing and showing us how best to manage a State Sales Tax Aud...
— TrūIQ Global, LLC, Posted January 9th 2024 on google
Great experience. Ashley knows her stuff and takes the time to dig in to unique situations.
— Jake Drzayich, Posted December 4th 2023 on google
Met with Ashley Jefferies. She is friendly, knowledgeable, and helped answer every question I had. Will definitely be using Paramount moving forward!
— Ben Phillips, Posted November 30th 2023 on google
Very detailed and thorough. They are very knowledgeable.
— Tammy Bennett, Posted November 6th 2023 on google
Very positive experience for something that is overwhelming for me to do on my own.
— Mikael Fehlberg, Posted October 17th 2023 on google
We were referred to Ashley, and we absolutely LOVE her! She has helped us catch up on the last couple years of taxes for our small business, and has relieved so much stress. She goes out of her way to help us as much as she possibly can (which is a lot because she knows so much) and does all she can to get us the best ...
— Meg Ortiz, Posted October 13th 2023 on google
Meeting Ashley was a breath of fresh air. She was able to explain the process and the fees upfront. Wonderful demeanor and friendly attitude. I would recommend this company for any business.
— Denise Kearl, Posted June 29th 2023 on google
Ashley is incredibly knowledgeable and willing to walk through multiple scenarios for tax planning. Great communication and strategy to make sure filling goes smoothly!
— Kiera Griffis, Posted October 9th 2023 on google
Highly recommend Jeff and the Paramount team for book keeping, personal and business taxes. Best CPA I’ve worked with in 30 years
— Cody Baird, Posted August 31st 2023 on google
I love the team at Paramount! I have been using them for years and have had nothing but good experiences. The professional and courteous service has been second to none. I recommend them to anyone looking for tax or accounting help. Thanks for all your help guys!
— Spencer Shemwell, Posted August 20th 2023 on google
I had a very productive and informative conversation to begin. Answered all my questions
— Ryan Bolton, Posted August 11th 2023 on google
Thank you for the tax service.
— Adrian Alvidrez, Posted August 7th 2023 on google
Knowledgeable, experienced, custom to your specific needs. Great team!
— Luda & Jon Cooke, Posted August 1st 2023 on google
Absolutely happy with Paramount and recommend them to anyone who needs tax and accounting services! Super excited to work with them on bookkeeping after years of having them do our taxes at the Lehi office. I love how thorough they are at explaining things and they have a great attitude about teaching me instead of me...
— Katie Muth, Posted July 31st 2023 on google
I cannot rave enough about Paramount tax! I started a biz because I’m a passionate aesthetician, not because I’m a tax pro. When I tell you I know nothing about taxes, I’m not joking. But thank goodness for Ashley who simplifies it and makes it make sense to me. She is so patient, solves whatever problems I come ...
— Macie Eddy, Posted July 26th 2023 on google
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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 Provo, is that our firm utilizes the services of licensed professionals.

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 Provo. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting Provo!

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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 Provo a call or visit our tax and accountingbookkeeping firm in Provo for a free consultation.

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288 W Center Street
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Provo, UT 84601

801-515-3098

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

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