Tax preparer - Garland, Texas.
Kwik Refund Tax Service, Inc., for Business
Tax preparer near me.
Are you looking for an experienced tax preparer near me, a tax calculator located in Garland, Texas?
You Got it. For income tax preparer near me, tax calculator, limited liability company tax, and bookkeeping, Kwik Refund Tax Service Inc., established in 2005 is an expert tax preparer, and we're available for your services. We are IRS RTRP - Registered Tax Return Preparers, IRS ERO - Electronic Return Originator, and IRS ISP - Intermediate Service Provider.
When are taxes due?
Normally taxes due each year by January 15th, and the taxes due deadline is April 15th. The deadline to file your federal tax return and pay any federal income taxes you owe is Monday, April 15, 2024. Due to state holidays residents of Maine and Massachusetts have until Tuesday, April 17, 2024.
For taxes due and if you think you would not be able to have your tax return complete by April 15th to determine your taxes due, you may need to file for an extension 1040X and that will give you extra time until October 15, 2024. However, any taxes you owe are still due by April 15, 2024, or April 17, 2024, if you're a resident of Maine or Massachusetts. Unpaid balances may be penalized and accrue interest.
And for certain taxpayers, April 15 is not the only taxes due day to keep in mind. Depending upon where you live, it's possible that your state or local income tax deadline could be different from the federal taxes due deadline. Be sure to confirm when you must file all tax returns and complete relevant tax payments.
Tax Preparation Service, Garland, Texas. Kwik Refund Tax Service provides accurate tax preparation service for corporation, LLC tax, small business tax, and individual 1040 taxes.
S-Corporation Tax
An S-Corporation, or Sole Corporation, is a special designation carved out of the U.S. tax code for small businesses. When you see "Inc." at the end of a business name, it means that business is a corporation and signifies that the business is a separate entity from its owners and must file its tax.
C-Corporation Tax
C-Corporation is recognized as a separate taxpaying entity from its owners and must file its tax. A corporation conducts business, realizes net income or loss, pays taxes, and distributes profits to shareholders. The shareholders must file accurate tax preparation to determine their tax liability.
Limited Liability Company Tax
The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes but must file a return with the IRS. The sole owner of the LLC must report all profits (or losses) of the LLC using Schedule K-1 on Schedule C and submit it with the 1040 tax return.
Partnership Tax
A partnership company is owned by two or more people. Each person contributes resources and shares the profits and losses. The company is not subject to federal income tax. Rather, its owners are subject to Federal income tax on their share of the profit. Form 1065 is used to calculate a partnership's profit or loss.
Small Business with 1099
Business owners must issue a Form 1099-NEC to person whom they have paid at least $600 in services, contractors, etc. You don't need to issue 1099s for payment made for personal purposes. You are required to issue 1099-NEC reports only for business payment. And the recipient must report the 1099 as Schedule-C.
Individual 1040 Tax
1040 is the standard Internal Revenue Service (IRS) form that individual taxpayers use to file their annual income tax returns. The form contains sections that require taxpayers to disclose their taxable income for the year to determine whether additional taxes are owed or whether the filer will receive a tax refund
Taxes.
According to the Internal Revenue Service (IRS) there are four categories of tax professionals or tax calculator that are qualified to help you file your taxes. They are ...
Registered Tax Return Preparers (RTRPs):
A Registered Tax Return Preparer is a tax calculator that must pass a competency exam issued by the IRS. The exam covers individual tax returns including Form 1040 and related schedules, but it does not cover business returns. Though presently, the exam is suspended.
In addition, RTRPs can only represent clients in an IRS audit if they have prepared and signed the return in question. We are an IRS RTRP, (IRS ERO) Electronic Return Originator, and (IRS ISP) Intermediate Service Provider.
Enrolled Agents (EAs):
An enrolled agent is a professional who is licensed by the IRS and trained in federal tax matters. EAs have unlimited practice rights, so they can represent any type of client and any tax matter. EAs must pass a 3-part exam from the IRS that tests their knowledge on individual and business tax returns, taxpayer representation, and IRS recommended practices and procedures.
Certified Public Accountants (CPAs):
CPAs must pass the Uniform CPA Examination and must be licensed by their practicing state board of accountancy, the District of Columbia and U.S. territories. CPAs are held to specific board requirements that enforce continuing education, ethical standards, and experience. Like EAs, CPAs also have unlimited practicing rights and can represent any client for various tax matters, including tax audits, IRS payment and collection issues, and appeals).
Attorneys:
Tax attorneys must be licensed by a state court or the state bar. Attorneys generally hold a law degree, pass the bar exam, and stay up to date with continuing education programs. Many attorneys are also CPAs- focusing on tax planning and preparation. Attorneys also have unlimited representation. So. like EAs and CPAs, they can represent any client for a variety of tax matters.
CLERGY TAX PREPARATION.
Are Pastors and Clergy Exempt from filing Income Taxes?
Regardless of whether you're a church pastor or clergy minister performing ministerial church services as an employee or a self-employed person, all of your earnings, including wages, offerings, and fees you receive for performing marriages, baptisms, funerals, etc., are subject to income tax. Read more in IRS Topic no. 417, Earnings for clergy.
Are donation gifts to clergy or pastors taxable?
It is not safe to assume that occasional gifts to pastors or other church employees are tax-free. Depending on the process used to collect and distribute the funds, these gifts may need to be reported to the Internal Revenue Service (IRS) as a part of the recipient's taxable income. To determine your clergy tax preparation contact us, we are an experience tax professional for pastors and clergy ministers.
For Clergy and Pastors Tax Preparation. Get in touch with us.
Are church ministers or pastors consider as employees or self-employed (independent contractors) for income tax purposes?
The IRS considers virtually all ministers to be employees for income tax purpose. Caution A minister employed by a parachurch ministry does not automatically qualify for ministerial tax treatment simply by virtue of being ordained, licensed, or commissioned.
The income tax filing status has many ramifications for what and how a church and the minister report to the IRS. Generally a minister is an employee if the church has the legal right to control both what and how work is done, even if the minister has considerable discretion and freedom of action.
Nearly every local church minister qualifies as an employee for income tax purposes and should receive Form W-2. Few ministers can adequately substantiate filing as selfemployed for income tax purposes.
Even though the minister might take exception to this reporting by the church, the church still has a responsibility under the law to determine the proper filing method for the minister or pastors (Form W-2 vs. Form 1099-NEC) and proceed accordingly.
Does church need to file tax return?
Generally, tax-exempt organizations must file an annual information return (Form 990 or Form 990-EZ). Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less can satisfy their annual reporting requirement by electronically submitting Form 990-N if they choose not to file Form 990 or Form 990-EZ. Churches, some church-affiliated organizations and certain other types of organizations are excepted from filing.
For IRS Form 990 Tax-Exempt Organizations - Church Tax Preparation. Contact us.
Is your church or non-profit organization IRS compliant?
IRS requires all churches and non-profit organizations that are tax exempt to file 990 annual tax reporting. Timely and accurate filing of Form 990 is essential to the ongoing success of IRS compliant of your church or nonprofit tax liability.
Does IRS form 990 require an audit?
Failing to file form 990 can be the very thing that generates an IRS audit of your charity, church, or non-profit organization audit if not filed appropriately and on time.
To avoid or prevent unwanted IRS audits, we are available for your service, hire us today to help bring your church and/or non-profit 990 annual tax reporting to date. Contact us.
Are you looking for tax preparer near me?
Look no further, for tax preparer near me. Kwik Refund Tax Service, Inc., located in Garland, Texas is an experienced tax preparer for business tax, corporation tax, and individual 1040. We are experience tax preparer and we provide high quality tax preparation services for Corporation, S-Corporation, Partnership, Limited Liability Company taxes, and individual 1040 tax, accurate with maximum return guarantee for individual tax and small business with 1099 NEC forms, and eligible itemize deductions for business tax, both federal and nationwide state income tax services. We specialized in all IRS tax forms which include 1120, 1120S, 1065, 990,1040, 1040EZ, 1099-NEC, 1099-MISC, 1099G, 1099-R, 1098, Schedule E, W4, W7, etc. Get in touch with us!
