Tax Services for Businesses
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DEPENDABLE TAX SERVICES is dedicated to help businesses achieve their goals by strategically organize, plan, and prepare all tax accounting financial reports.
Our Enrolled Agents and tax professionals review your business tax accounting and outline those items which are most favorable, and all of those needing attention.
We welcome your business entity and offer the following services:
Tax Planning Tax Consulting Tax Preparation Tax Electronic Filling Tax Accounting
Bookkeeping
Payroll Services
Business Entities:
Sole Proprietors
LLCs
Partnerships
Corporations
Non-Profit Organizations
Enjoy your free time without the worry of tax accounting and put a tax expert on your side.
Because you have a business to run
Enjoy your free time without the worry of tax accounting and put a tax expert on your side.
Business Consulting Services
We determine our value by the personal attention, and business successes of our clients. We can help develop solutions to the areas negatively affecting profitability and growth that are practical and sound. We provide comprehensive, flexible strategies that address the issues affecting your business.
Business Formation
If you are considering starting your own business or forming your entity type, we help you determine the appropriate avenue for your business venture.
DEPENDABLE TAX SERVICES is the local and most economical source to help you file your DBA/FBN or to help you incorporate. Please call us for free consultation.
If you are considering starting your own business or forming your entity type, we help you determine the appropriate avenue for your business venture. We offer everything you need to start, maintain, and protect your business whether is as Sole Proprietor, C - Corporations, S - Corporation, Partnerships, or LLCs - (Limited Liability Company).
Filing DBA - Business fundamentals
Starting your own business or simply incorporating? In most states, DBA registration is necessary if your company conducts any business under a name other than your own name. "Conducting business" can include marketing, advertising, letterhead, business cards, etc., in addition to actual business transactions including up to opening you business account; most banks in fact, require you or ask for a copy of your certify DBA from the your county or state before opening a business bank account. DBAs are not just for sole proprietors. If you are a corporation or LLC and want to do business under a name different than your corporate name, you are also required to file for a DBA.
Dependable Tax Services is here to help you to file your DBA:
Research, File, and Publish your DBA or Fictitious Business Name in one of your local papers.
We help you obtain a EIN (Employer identification number) from tax agency.
Obtain your City Business License (you may need a business license for each city you conduct business).
Obtain "Home-Based Business" permit if required by city.
We file any modifications to you DBA or FBN accordingly.
FORMING YOUR CORPORATION
C- Corporation: A C Corporation is a completely separate tax and legal entity from its owners, and owners who work in the business are treated and taxed as employees of the corporation (Note: The “C” in C Corporation refers to a subchapter of the tax code; C-corporations are one of the most common forms of corporations, and they are frequently referred to generically as corporations). C Corporations are subject to corporate income taxes separate from the owners, where most other forms of business entity allow for the company profits to “pass-through” to the personal income tax statements of the owners.
As such, C Corporations are the most formal business entity and they have greater tax reporting responsibilities than other business entities. C Corporations allow for profits to be retained in the business, if desired, and frequently these profits can be taxed at a lower rate than personal income. C Corporations can also pay out after tax profits to its owners in the form of dividends, but this can also lead to double taxation.
California Corporation and California LLC
Filed with the California Secretary of State
California Corporation Names
It is not required to use a corporate designator in a California Corporation. Many companies do, however, include the word “Corporation,” “Incorporated,” “Limited” or an abbreviation of one of these. The name cannot state or imply that the corporation or LLC is formed for purpose other than what is permitted in the articles of incorporation/organization. Also, the name cannot be the same or deceptively similar to any active domestic or foreign corporation or LLC filed with the state.
California Limited Liability Company (LLC) Names
The California Limited Liability Company (California LLC) must use the term “Limited Liability Company” or “LLC.” The word “Limited” may be abbreviated as “Ltd.” And the word “Company” as “Co.” The name cannot state or imply that the corporation or LLC is formed for purpose other than what is permitted in the articles of incorporation/organization. Also, the name cannot be the same or deceptively similar to any active domestic or foreign corporation or LLC filed with the state.
Director Information:
Minimum Number
Not less than three, unless there are only one or two shareholders of record. Then the number of directors may be less than three but not less than the number of shareholders.
Residence Requirements
No provision.
Age Requirements
None. Directors are not required to be listed in the articles of incorporation.
Officer Information
Officers are not required to be listed in the articles of incorporation.
Stock Information
An increase in shares or par value does not affect initial filing fees.
Registered Agent
A corporation or LLC must maintain a registered agent at all times to accept any important service of process from the state. The registered agent must be located and available during regular business hours at a legal address within the state. California prohibits the use of a P.O. Box as your registered agent's address.
Corporate Records An original or a copy of bylaws must be kept at the principal executive office or principal business office in the State of California. The minutes of directors' and shareholders' meetings must be kept at the principal office.
C-Corporation
C - Corporation Advantages:
Limited Personal Liability
Perpetual Existence
Better Fringe Benefits
Advantageous Corporate Tax Treatment/Income Splitting
C - Corporation Disadvantages:
More extensive record keeping requirements
Dividend payments can lead to double taxation
S - Corporation:
An S Corporation is a special form of corporation (Note: The “S” in S Corporation refers to subchapter S of the tax code). S Corporations are based on C Corporations but they are not treated as a separate tax entity as C Corporations are. Instead, the income of an S Corporation is “passed through” to the personal income of its owners (shareholders) in proportion to their ownership interest. An S Corporation is created by forming a traditional C Corporation and then filing the IRS Form 2553 (The Subchapter S Election) for federal recognition of S Corporation tax status.
While the S Corporation has many of the same features as a C Corporation, there are some important differences. Note: While the S Corporation features similar pass through taxation to an LLC, in the area of self-employment taxes an S Corporation can have an advantage over an LLC. The compensation (salary and bonuses) of S Corporation shareholders is subject to self-employment tax, but not on the profits automatically allocated to them as a shareholder. This can be an advanced and aggressive tax strategy, so be sure to consult with the appropriate tax and legal specialists before pursuing it.
S- Corporation Advantages:
Limited Personal Liability
Perpetual Existence
Better Fringe Benefits
Pass-Through Taxation
S- Corporation Disadvantages:
More extensive record keeping requirements
Restrictions on number and type of allowable shareholders
Business Maintenance
We make necessary business maintenance to your entities as originally filed, we keep your official entity current worry-free.
Registered Agent: Almost every state requires a corporation or an LLC to have a Registered Agent (sometimes called a resident agent, statutory agent, or agent for service of process). The Registered Agent address is the address that will be used by the state for any official legal and tax correspondence.
The Registered Agent address must be a physical, in-state street address; P.O. Boxes are not acceptable. If needed, DEPENDABLE TAX SERVCIES can provide you with a Registered Agent for only $150.00 per year, and any official legal and tax correspondence from the state will be forwarded to your billing/shipping address. NOTE: If you require us to provide a registered agent, the address cannot be used as a general business/mail forwarding address. Only official legal and tax correspondence from the state will be forwarded, and any other mailings to the registered agent may result in additional charges.
Amendments:
Many states require that a business file an Article of Amendment when making any changes to a corporation or LLC. We will prepare your Articles of Amendment for review and submission to the appropriate state agency in any of the 50 states to amend the "Articles of Incorporation" or "Articles of Organization." Articles of Amendment are sometimes referred to as "Certificates of Amendment." In addition to changing your company name, the filing of Articles of Amendment can change the following information: Principal office address, Names and addresses of directors or members, Description of business activities, Number of authorized shares, Any other information included in the Articles of Incorporation
Foreign Qualifications:
Corporations or LLCs formed in one state can do business in another state. Before conducting operations across state lines, a business may be required to file for a Foreign Qualification, or obtain authority to do business in that state. A corporation or LLC is considered to be domestic only in the state in which it was incorporated. In all other states, a company is regarded as a foreign corporation or foreign LLC. If your company expects to transact business outside the state in which your company was formed, you may be required to file for a Foreign Qualification.
For example: If your company incorporated in the state of Nevada, but has an office and employees in California (in essence, based in California), then you would generally have to file for foreign qualification within the state of California. In other words - you must apply for authority to conduct business in California. We can prepare Foreign Qualification documents for your review and submission to the appropriate state agency in any state so that your corporation or LLC may operate as a foreign entity within that state.
S-Corporation elections:
Electing S Corp status means that income generated by your business is "passed-through" to your shareholders for computing tax liability. Most businesses start out as a general C corporation and are required to pay income tax on taxable income generated by the corporation. However, as soon as a corporation has been formed, it may elect S Corporation status. Then, the shareholders are taxed like a partnership or sole proprietorship, and not the corporation.
A large majority of our small business customers meet the following S-Corporation requirements: Be filed as a U.S. corporation, Maintain only one class of stock, Maintain a maximum of 100 shareholders, Be comprised solely of shareholders who are individuals, estates or certain qualified trusts, who consent in writing to the S Corporation election, All shareholders must have a US Social Security Number, Corporate fiscal year ends December 31st . Failure to observe any of the above requirements could revoke your S Corporation status at any time. Whether or not an S Corporation is something that you would benefit from is a decision that only you can make.
Withdrawals:
A Corporation or LLC that has previously foreign qualified in a state other than their home state, generally need to file a Withdrawal to stop doing business in that state, to ensure it will have no further obligations to that state. If this is your situation, let us file a Withdrawal for you as quickly as possible. We will prepare your Withdrawal for your review and submission to the appropriate state agency in any of the 50 states to assist you in withdrawing your corporation or LLC .
Reinstatements:
There are certain legal regulations that businesses must follow to remain legitimate. Failing to follow these requirements (we all make mistakes!)—could cause a business to be involuntarily dissolved by the state. If this happens, file a Reinstatement as quickly as possible. In most states, businesses are required to pay annual fees and taxes for the privilege of operating as a state entity and must submit an Annual Report (sometimes called a Statement of Information).
If an incorporated business or LLC fails to file an Annual Report and pay requisite fees, that business may fall out of good standing, or even be involuntarily dissolved by the state. If this happens, the state will more than likely require that a business file a Reinstatement to restore it to active status and good standing. We can prepare your Reinstatement for your review and submission to the appropriate state agency in CALIFORNIA. This will ensure that your Corporation or LLC is in full compliance with its corporate formalities, and is restored to active status and good standing.
Dissolutions:
Whatever the reason some companies must "close the door" and stop doing business. Without the formal termination of a corporation or LLC, owners could still be charged fees associated with the business. A Corporation or LLC must file Articles of Dissolution (sometimes referred to as Certificate of Dissolution or Certificate of Cancellation) when it needs to terminate its existence. Whenever a Corporation or LLC is an active entity at the Secretary of State, it is in existence and has specific obligations to that state (such as filing Annual Reports, paying state fees, and paying taxes).
Even if the company is not actually doing any business at all, as long as the company is filed with the state, it is considered to be in existence. For this reason, it is important to officially and formally dissolve your entity with the Secretary of State in order to avoid any unnecessary fees. We'll prepare your Articles of Dissolution for review and submission to the appropriate state agency in CALIFORNIA.