Expert Business Tax Preparation for S-Corporations in Montgomery County, Maryland
Aventa Tax has been helping S-corp business owners in Montgomery County, Maryland with expert tax preparation and tax advisory services for over 10 years. Our IRS Enrolled Agents specialize in S-corporation business taxes and 1120S tax filing to help businesses maximize tax savings and stay in compliance.
Take advantage of S-corp business tax savings opportunities
Speak with local business tax experts year-round
Streamline business tax filings & avoid costly tax mistakes
Schedule a Free Tax Review
S-Corporation Business Tax Services in Maryland
S-corporation business taxes are complex and require careful tax planning to avoid IRS issues. Work with a business tax preparer in Montgomery County, Maryland who specializes in S-corp tax filing and advisory.
Choose an Enrolled Agent for expert S-corp Tax Help
An Enrolled Agent (EA) is a federally authorized tax advisor who is qualified to help you navigate complex S-corporation business tax laws and regulations, helping you identify legal business tax saving strategies.
Our IRS Enrolled Agent services provide S-corp business owners in Montgomery County, Maryland a full-service tax solution: business tax preparation, business tax planning, and even tax representation.
Dedicated tax advisor who can help your S-corporation business with tax filings (1120S), advisory, and compliance support (year-round) - not just at tax time.
Reasonable Compensation consulting and payroll solutions to ensure your S-corporation is in compliance with IRS requirements.
Additional tax filing such as 1099-NEC preparation and filing if your S-corporation pays independent contractor workers
Bookkeeping for S-corporations to ensure your business financials are in order and provide you financial clarity.
Powerful Accounting Solutions for your S-Corporation Business
Aventa Tax's team of expert accountants can handle all things tax & accounting for your S-corporation, in addition to filing Form 1120-S.
S-corporations are complex and require adherence to strict tax laws and regulations. Our tax professionals provide you with peace-of-mind knowing that your S-corp tax filings are done right.
FAQ: Common S-Corporation Tax Questions for Maryland Business Owners
What is an S-corporation and how is it taxed?
An S-corporation (S-corp) is a special tax status granted by the IRS that allows income, losses, deductions, and credits to pass through directly to shareholders, who report these on their personal tax returns. This avoids double taxation, as the S-corp itself generally does not pay federal income tax.
What are the requirements to qualify as an S-corporation in Maryland?
To qualify for S-corp status, your business must be a domestic business, have no more than 100 shareholders (who must be individuals, certain trusts, or estates), have only one class of stock, and not include partnerships, corporations, or non-resident aliens as shareholders. There are other nuances to these requirements and failing to maintain these can trigger involuntary termination of S-corp status. Our tax team regularly evaluates this criteria for our S-corp clients to ensure they are in compliance with IRS requirements for S-corps.
Which tax forms do S-corporations need to file?
S-corporations must file IRS Form 1120S annually and provide each shareholder with a Schedule K-1.
When are S-corporation tax returns due?
Federal S-corporation tax returns (Form 1120S) are due by the 15th day of the third month after the end of the tax year—typically March 15th.
Can S-corporations reduce their tax liability?
S-corps can reduce tax liability for their shareholders by ensuring proper classification of salary vs. distributions and maximizing allowable deductions. Planning with a Maryland S-corp tax accountant can help identify further savings.
What are common mistakes Maryland S-corporations make in tax filing?
Frequent errors include misclassifying shareholder salary, missing filing deadlines, failing to issue correct forms (W-2, 1099), and not apportioning income correctly for multistate operations
What is a Reasonable Salary for S-corp owners?
The IRS requires that S-corporation shareholder-employees pay themselves a "reasonable salary". This requires careful planning and assessment by a tax professional to determine an appropriate level of reasonable compensation. S-corporation business owners who fail to take reasonable compensation could face steep IRS penalties.
Aventa Tax LLC is based in Montgomery County, Maryland and provides business tax services and IRS enrolled agent services for S-corporation businesses.