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Christine Kerner about TFX
TFX is awesome – a peace of mind saver.
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.
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Let our CPAs and EAs handle all your tax needs, from individual taxes to comprehensive tax services, ensuring a hassle-free experience for you.

Need assistance with personal taxes too? We've got you covered!

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Who we help

Who we help

Top tax issues:
  1. Inconsistent record-keeping.
  2. Failure to make estimated tax payments.
  3. Not separating personal and business expenses.
  4. Overlooking potential tax deductions.
  5. Not understanding self-employment tax obligations.
Top tax issues:
  1. Late filing or failure to file Form 1120S.
  2. Incorrectly classifying distributions and salary.
  3. Not paying reasonable compensation to shareholders.
  4. Misunderstanding of shareholder basis rules.
Top tax issues:
  1. Double taxation on profits and dividends.
  2. High corporate tax rates compared to individual rates.
  3. Complex tax filing requirements.
  4. Limitations on deducting business losses.
  5. Issues with retained earnings and accumulated earnings tax.
Top tax issues:
  1. Discrepancies in profit and loss distribution among partners.
  2. Late or incorrect filing of Form 1065.
  3. Misunderstanding of self-employment taxes for partners.
  4. Difficulty tracking and maintaining partners' capital accounts.
  5. Not making required tax elections on time.
Top tax issues:
  1. Confusion over tax classification (disregarded entity, partnership, or corporation).
  2. Not understanding the self-employment tax implications.
  3. Failing to make state-specific filings or annual reports.
  4. Mismanagement of member capital accounts.
  5. 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.

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Small business tax tips

Delve into the latest tax guides, expert insights and business tax news
Step-by-step guide: Form 5472 for foreign owned businesses

Form 5472 is an important document for foreign companies doing business in the United States. This IRS form helps ensure that companies comply with US tax regulations regarding their related party transactions. The form is complex, and proper filing is essential to avoid significant penalties. This guide provides a detailed walkthrough of...

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23 Apr 2024
Business travel tax deductions: maximizing savings on the go

As a professional traveling for business, understanding the nuances of business travel tax deductions can significantly impact your financial planning and tax obligations. This guide will delve into what constitutes a deductible business expense, how to distinguish between personal and business travel, special considerations for domestic and...

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22 Apr 2024
Informational returns: Do S corporations get a 1099?

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...

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19 Apr 2024
Commercial clean vehicle credit for small businesses

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...

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16 Apr 2024
Late S corp election: How to file it after the deadline

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...

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11 Apr 2024

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