Business Tax Returns for S-Corps, Partnerships, and Corporations
We prepare Form 1120-S, Form 1065, and Form 1120 returns for owner-run companies across the San Fernando Valley, with K-1s delivered to every owner in time to file their personal returns. Federal and California filings are handled together, quoted as a fixed fee before the work starts.
Which business tax return you file
The return your company files is determined by its entity type and by any election it has made, not by what it calls itself. This is the single most common point of confusion we clear up on a first call, because "I have an LLC" describes a legal structure and says almost nothing about how the business is taxed.
Form 1120-S — S-corporations
Filed by LLCs and corporations that made a valid S election. Profit passes through to owners on K-1s, and the owner must take reasonable compensation through payroll. This is the most common return we prepare, largely because of how many S-corp elections we handle.
Form 1065 — partnerships and multi-member LLCs
The default treatment for an LLC with more than one member. Income, deductions, and distributions are allocated across partners on K-1s, with capital accounts and basis tracked for each one.
Form 1120 — C-corporations
Filed by corporations that never elected S status. The company pays tax at the entity level, which means book-to-tax reconciliation and Schedule M adjustments rather than pass-through K-1s.
If you are a single-member LLC with no election, you do not file a separate business return at all — the activity goes on Schedule C of your personal return. That work is covered under individual tax preparation.
Business tax return pricing
These are our published tiers, and every figure below also appears on our full fee schedule. K-1 preparation for owners is included rather than billed per form.
| Form type | Business structure | Price | What's included |
|---|---|---|---|
| 1120-S Standard | Single-owner S-Corp, clean books | $1,150 | S-Corp federal/CA return, K-1 preparation, basis tracking, electronic filing |
| 1065 Partnership | Up to 4 partners | $1,450 | Partnership return, K-1s for all partners, basis tracking, capital accounts |
| 1120-S Complex | Multi-owner, multi-state, accountable plans | $1,950 | Everything in Standard plus multi-state apportionment, complex equity structure, distributions analysis |
| 1120 C-Corp | Small C-Corp | $1,950+ | Corporate return, book-to-tax reconciliation, Schedule M adjustments |
S-corp owners usually also need a personal return. The combined personal and business package is $1,950, which is generally less than buying an individual return and a business return separately.
What a business return needs before it can be filed
Most delays in business filing are not caused by the return itself. They are caused by the four things underneath it, which is why we start there.
- Closed books: reconciled bank and credit card accounts, a balance sheet that ties, and accrued liabilities recorded. Clients on our monthly bookkeeping plans arrive at year end already closed
- Payroll reports: W-3 and quarterly filings, plus the owner's wages, because an S-corp return with no owner payroll invites scrutiny of reasonable compensation
- Owner basis and capital accounts: contributions, distributions, and loans, which determine whether distributions are tax-free or taxable
- Fixed assets: anything purchased during the year, so depreciation and any expensing elections are handled deliberately rather than by default
California adds its own layer. S-corps pay a franchise tax of 1.5% of net income subject to an $800 minimum, and LLCs owe an $800 annual tax plus an LLC fee scaled to total income. These are due regardless of whether the business was profitable, which surprises owners in a slow year.
Business filing deadlines
For calendar-year filers, S-corp and partnership returns are due March 15, and an extension moves that to September 15. C-corporation returns are due April 15, extended to October 15.
Two things are worth internalizing. First, the business deadline lands a month before the personal one, because owners cannot finish their 1040s until their K-1s exist. Second, late S-corp and partnership returns are penalized per owner per month, so a multi-owner company can run up a meaningful bill even in a year with no taxable income. Filing an extension on time is cheap insurance against that.
Related services
Individual Tax Preparation
The 1040 side of the picture, including the combined package for S-corp owners.
Small Business CPA Services
Bookkeeping, payroll, and compliance for Valley small businesses, handled by one firm.
All Tax Services
Planning, IRS notices, sales tax, and multi-state work beyond preparing the return.