Services

S-Corp Tax Preparation (Form 1120-S)

An S-corp election adds a layer of tax complexity that a standard personal-return preparer often misses. You need Form 1120-S for the entity, a reasonable-compensation W-2 for any owner-employee, and a personal return that correctly picks up the K-1 from the entity. Our office handles all three pieces as a coordinated package.

Form 1120-S

The annual S-corp income tax return. Income, expenses, officer compensation, and basis calculations prepared and reviewed by a human preparer.

K-1 coordination

Each shareholder receives a K-1. We prepare the K-1s and ensure the corresponding personal returns reflect them correctly.

Reasonable compensation

Owner-employees must pay themselves a reasonable salary via W-2. We review payroll records and flag situations that need attention.

What to bring

S-corp election approval letter (IRS CP261 or equivalent)
Profit and loss statement and balance sheet for the tax year
Payroll records and W-2s for all owner-employees
Prior-year Form 1120-S and shareholder basis schedule
Business bank statements if books are not yet reconciled

Common questions

Do you prepare both the 1120-S and my personal 1040?

Yes. We coordinate both returns as a package. The K-1 from the 1120-S feeds directly into your personal return, and we review both together before filing anything.

What is the S-corp filing deadline?

Form 1120-S is due March 15 (or September 15 with an extension). That is one month earlier than the personal return deadline. Contact our office early to avoid a late-filing situation.

I made an S-corp election but never filed 1120-S. What do I do?

This is a back-year issue we handle regularly. We prepare the missing returns, file them in order, and help you understand what penalties may apply.

Does my S-corp need a separate engagement or can you quote it together?

We quote the entity return and personal return together as a package after reviewing your documents. You get one clear quote that covers both.