Services
Business and Individual Tax Service
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We provide a variety of tax services. We prepare income tax returns for individuals, partnerships, corporations, LLC’s,non-profits and estates and trusts.
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We prepare quarterly payroll tax returns along with annual W-2’s and 1099-Misc.
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We also provide tax planning and IRS audit representation.
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The firm is always updated on new tax rules and regulations. When you engage Tax Umbrella Inc for your tax services, you can count on quality, accuracy and professionalism.
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Professional Bookkeeping Services
Having a good bookkeeper is a great first step to running a successful operation. Tax Umbrella Inc provides a level of professional bookkeeping service tailored to the needs of the client. We can organize and categorize your accounting data, perform monthly accruals, prepare your sales tax returns, process your payroll, reconcile your bank and credit card accounts as well as your payable's and receivables, and even provide internal financial reports, enabling you to make better management decisions necessary for success.
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Accounting Services
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Having accurate accounting information is crucial to making good management decisions.
We can help you with:
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Year-end accounting services to get your books ready for your tax returns.
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Monthly accounting adjustments related to accounts receivable, accounts payable, depreciation, bank loans, equity issues and other items.
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General consultations with the company bookkeeper or CFO
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Management-use financial reports.
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Are your books and records so poor that you simply cannot manage your business or finances? We can clean up the books. Business owners should have access to timely and accurate financial information in order to make good business decisions. We can help you make that a reality.
Payroll and Sales Tax Management
Constantly changing federal, state and local laws and tax regulations make payroll and Sales Tax management an ongoing challenge for business owners.
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Our professionals are well versed on these laws and regulations. We can proactively alert you to material changes that will affect your business and your employees while also keeping payroll running smoothly.
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Corporate Formation & Compliance
Choosing the right business structure for your organization is crucial in order to limit your tax liability, provide proper legal protection, and to operate efficiently. We can assist you with the filing of your Articles of Incorporation, Articles of Organization, SS-4, Annual report and other related documents for organizations operating anywhere in the United States.
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Choose a Business Structure
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The form of business determines which income tax returns a business taxpayer needs to file.
The most common business structures are:
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Sole proprietorship:
An unincorporated business owned by an individual. There’s no distinction between the taxpayer and their business. An example would be an Uber Driver
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Partnership:
An unincorporated business with ownership shared between two or more people.
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S Corporation:
A corporation that elects to pass corporate income, losses, deductions, and credits through to the shareholders. An LLC has the option to be treated as an S-Corp. S-Corporations are not subject to self-employment tax although they are required to pay owners a reasonable salary.
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Limited Liability Company:
A business structure allowed by state statute. A single-member LLC would file their business on their personal return. An LLC with multiple partners would file as a partnership.
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Corporation:
Also known as a C corporation. It’s a separate entity owned by shareholders.
IRS and TAX issues:
Before taking on the new tax year, we encourage anyone who has prior tax-related issues to reach out to us. Now is a good time to deal with a situation you may have been putting off or which seems difficult to address.
Remember that as tax and accounting professionals, we are comfortable doing this type of work on a regular basis.
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We would be glad to help if any of the following apply to you:
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Have not filed taxes for one or more years.
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Received a notice from the IRS and are not sure how to proceed.
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Need to amend a previously filed return.
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Worked in multiple states and didn't file for all.
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Have started a business and need help keeping track of records.
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we can also assist you in preparing for next year. Please call 847-877-6296 or email info@taxumbrella.info with a brief description of your situation so we can get started on a solution.
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