Top-rated tax firm
for small businesses
Expert CPAs and EAs
with 20+ years experience
Working with my tax CPA went above and beyond on her part and I feel very relieved that the previous tax year is completed. They will definitely have my business again next year.
Trusted by thousands of businesses
Tax and consultation services for small businesses
Need assistance with personal taxes too? We've got you covered!
Let our CPAs and EAs handle all your tax needs, from individual taxes to comprehensive tax services, ensuring a hassle-free experience for you.
Who we help
- Inconsistent record-keeping.
- Failure to make estimated tax payments.
- Not separating personal and business expenses.
- Overlooking potential tax deductions.
- Not understanding self-employment tax obligations.
- Late filing or failure to file Form 1120S.
- Incorrectly classifying distributions and salary.
- Not paying reasonable compensation to shareholders.
- Misunderstanding of shareholder basis rules.
- Double taxation on profits and dividends.
- High corporate tax rates compared to individual rates.
- Complex tax filing requirements.
- Limitations on deducting business losses.
- Issues with retained earnings and accumulated earnings tax.
- Discrepancies in profit and loss distribution among partners.
- Late or incorrect filing of Form 1065.
- Misunderstanding of self-employment taxes for partners.
- Difficulty tracking and maintaining partners' capital accounts.
- Not making required tax elections on time.
- Confusion over tax classification (disregarded entity, partnership, or corporation).
- Not understanding the self-employment tax implications.
- Failing to make state-specific filings or annual reports.
- Mismanagement of member capital accounts.
- Not maintaining a clear separation between personal and business finances.
Why work with TFX?
Zero effort online assistance
Experience hassle-free support right from your workspace. Say goodbye to yearly document struggles with our user-friendly online platform.
90% of clients return to TFX
The majority of our clients remain loyal for years and confidently recommend us to their friends. 50,000+ clients in the US and worldwide.
100% accuracy
Every document undergoes a rigorous two-step verification by our supervisory team. Senior tax experts working on your case. No junior staff.
80+ accredited CPAs, EAs, JDs
Dedicated experts committed to guiding you every step of the way. Always on standby to simplify the complex and address all your queries.
Small business tax tips
If you own an S corporation, you probably have many operational activities to tackle, like business planning, managing employees, and handling finances. Many business owners wonder if S corporations must get Form 1099 for tax information. This guide will help you understand whether you must receive and issue Form 1099 on behalf of your...
The transportation sector is the US's largest source of greenhouse gas emissions. Transforming your small business operations into more eco-friendly practices is crucial to decreasing the nation's carbon emissions and reducing your business tax bill! Starting January 1, 2023, businesses and organizations can purchase new EVs and FCEVs and...
Small business owners often choose an S corporation tax status due to its pass-through taxation advantages. To elect this tax classification, you must file the IRS Form 2553, Election by a Small Business Corporation, in a timely manner. However, if certain circumstances arise, you may need to file a late S corporation election. This guide...
Choosing a tax classification for your business is one of the first and most important steps in setting up. However, in some situations, businesses might have reasons to change their tax status when already operating. The Internal Revenue Service (IRS) allows such changes through specific regulations. To elect an S corporation tax status...
"Tax compliance is not just about paying what you owe but also about understanding the opportunities within the tax code. An informed approach to filing your LLC taxes, even with no income, is a step toward financial savvy and business success." – Tax Expert Starting a Limited Liability Company (LLC) is a significant step toward...