PUBLIC TAX, CORP prepares Form 1120 for Clearwater C corporations, including closely held businesses, professional corporations, and companies that have retained corporate tax status. We review both the tax filing and the records supporting the balance sheet and deductions.
Corporate returns often require book-to-tax adjustments. Depreciation, meals, owner expenses, shareholder loans, accrued items, charitable contributions, and other accounts may be treated differently for tax purposes than for bookkeeping purposes.
We also review retained earnings, dividends, capital contributions, officer compensation, and related-party transactions. Clear documentation is especially important when the owners and officers are closely connected to the corporation.
Clearwater corporations can complete the engagement through our secure portal. The return is reviewed by an IRS Enrolled Agent, and prior-year filings or IRS correspondence can be addressed as part of a broader compliance engagement.
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