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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
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...

Read the article
11 Apr 2024
Form 2553: How to elect an S corp tax status

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...

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10 Apr 2024
How to file taxes for an LLC with no income: a comprehensive guide

"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...

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09 Apr 2024
How to pay yourself from an LLC - guide for business owners

For owners of LLCs, determining the most efficient way to pay themselves is a critical aspect of financial management that directly impacts personal income and tax obligations. The flexibility of an LLC offers numerous benefits, but it also introduces a variety of compensation options, each with its own effects. This article aims to serve...

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29 Mar 2024
California AB150: tax credit for flow-through entities

The State of California introduced the California Assembly Bill (CA AB150) in response to the federal Tax Cuts and Jobs Act (TCJA) of 2017.  California Assembly Bill (2021) helps reduce the effect of the $10,000 limit on state and local tax deductions for certain businesses. This article overviews AB150 California and how it can help small...

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29 Mar 2024

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