Our Additional Business Tax Return preparation service is specifically designed to fit the needs of the craft brewery owners and operators we work with and integrate with our knowledge of your business.
It’s often the case that you have additional business entities beyond your core brewery business that you’re required to file an income tax return for each year. For example, these may include:
- A distribution entity
- A real estate or investment holding company
- Other business entities held personally (rental properties, a spouse’s business, charitable foundation, etc.)
Additionally, we sometimes need to file and/or amend prior year business tax returns for your core business as circumstances dictate.
Our goal is to, as with your standard annual brewery tax return, to make the filing process as easy as possible. In doing so, we’ll also apply the expertise and talent within the SBS Tax Team to maximizing tax savings with business income from one or multiple entities all while minimizing hassle and interruptions to your schedule.
In order to appropriately quote any additional Business Tax Return filings you may need, we’ll assess:
- The type of entity and activity level during the year. Pass-through entities and holding companies are straightforward and inexpensive to handle. Businesses with significant transactions and income will require our standard business return processes to be applied.
- Any additional cleanup work needed. We’re happy to handle cleanup work prior to return filing as well. If you need this work done, please indicate so and we’ll reach out to assess the level of cleanup needed.
All returns include both a Federal and State (where applicable) Income Tax Return as well as full access to the Tax Team for return-specific questions.
There is little worse than having to rush through finding documents or looking up information the week before March/April 15th. With the following return timeline (depending on entity type), we will be in constant contact with you throughout the information collection period. This will ensure that your information is where it needs to be, when it needs to be there.
If you’re filing for an S-corporation or partnership, in order to adequately prepare your tax return by the March 15th filing deadline, we’ll need you to upload all required documentation by February 15th. If you’re filing for a C-corporation, we’ll need all documents uploaded by March 1st. If those dates are not feasible, or we don’t receive documentation by the deadline, we’ll extend your return and file as soon as we can after the deadline, and at a minimum before the following September or October 15th extension deadline.
Amendments and other prior year tax work will be treated on a rolling basis. Often this work will be built around the filing schedule for your core business, so the timeline dictated above can act as a rough guide for processing amendment work as well.