As a business owner, your time goes into your products, your customers and your team. Reconciling accounts, producing balance sheets and keeping up with tax law changes rarely make the list. CCG Certified Public Accountants handles that side as a year-round partner, not just at tax time. Its Naples and Fort Myers offices serve owner-managed businesses in Southwest Florida and across the country.
Business Tax Services Included
CCG's business tax work covers compliance and strategy together:
- State and federal income tax preparation and filing
- Local and state sales tax compliance
- State and federal payroll tax, coordinated with ADP or Paychex
- Lower tax liability through proven tax planning strategies
- Profit and loss statements
- Mergers and acquisitions
- Entity selection and structure (S corp, C corp, LLC)
Payroll processing, including paychecks, payroll tax deposits and payroll tax e-filing, runs through CCG's partnership with ADP and Paychex. CCG coordinates that payroll data with your books and your business tax returns through our payroll services.
Planning and Compliance for Owner-Managed Businesses
Owner-managed businesses are best served by a business tax accountant who handles both the filings and the decisions behind them. Compliance keeps you current with the IRS and the Florida Department of Revenue. Planning shapes what those filings will show before the year closes.
| Compliance Work | Planning Work |
|---|---|
| Federal and state income tax returns | Entity structure as the business grows |
| Sales and use tax filings | Timing decisions made before year end |
| Payroll tax coordination with ADP or Paychex | Keeping the owner's personal return in view |
| Profit and loss statements | Tax impact of a merger, acquisition or ownership change |
Compliance looks back at the year. Planning looks ahead. CCG's CPAs handle both, and the deeper strategy work sits with our tax planning team.
Which Return Your Business Files
The federal return a business files depends on how it is taxed, not on its legal form. An LLC, for example, can file as a sole proprietor, a partnership or a corporation.
| How the Business Is Taxed | Federal Return | Due Date (Calendar Year) | Extension |
|---|---|---|---|
| Sole proprietor or single-member LLC | Schedule C with Form 1040 | April 15 | Form 4868, six months |
| Partnership or multi-member LLC | Form 1065 | March 15 | Form 7004, six months |
| S corporation | Form 1120-S | March 15 | Form 7004, six months |
| C corporation | Form 1120 | April 15 | Form 7004, six months |
Partnerships and S corporations file a month earlier than individuals because their owners need the K-1s to finish their own returns. Dates move to the next business day when they fall on a weekend or holiday, and C corporations also file Florida Form F-1120. Sources: IRS instructions for Forms 1065, 1120-S and 1120.
S Corp Returns, Salary and Distributions
An S corporation election is not a one-time filing. Once it is in place, the business takes on recurring compliance work each year:
- Filing Form 1120-S by its due date
- Issuing a Schedule K-1 to each shareholder
- Running owner compensation through payroll
- Tracking each shareholder's basis, which affects how distributions and losses are taxed
Salary vs. Distributions in an S Corp
S corp owners who work in the business are generally paid in two ways: a salary through payroll and distributions of profit. Salary is subject to payroll taxes; S corp distributions generally are not. The IRS expects the salary to be reasonable compensation for the services the owner performs (IRS guidance, Wage Compensation for S Corporation Officers).
Distributions are also limited by each shareholder's basis, which is why basis tracking matters every year. Salary and distributions show up on payroll filings, the 1120-S and each owner's K-1, so all three need to agree.
If you are still choosing between an S corp and an LLC, our business formation team covers that decision.
When the Do-It-Yourself Approach Stops Fitting
Handling your own business taxes can work when the business is new and money is tight. It tends to stop fitting once one or more of these is true:
- You have employees, which brings payroll tax filings on a fixed schedule
- You pay quarterly estimated taxes and need them calculated correctly
- You collect sales tax and file returns with the Florida Department of Revenue
- Your entity structure was chosen at formation and has not been revisited since
- You are considering a merger, an acquisition or a change in ownership
How CCG Handles Your Business Return
A business tax return is only as fast and accurate as the financial records behind it. CCG keeps the process organized and looks for tax savings along the way.
Documents to Have Ready
- Prior-year business tax returns
- Year-end profit and loss statement and balance sheet
- Bank and credit card statements, with reconciliations
- Payroll reports, W-2s and 1099s
- Records of major purchases, asset sales and depreciation
- Business loan statements and interest expense
- Details of any ownership, financing or structural changes
- Any other tax documents relevant to the business
Mid-Year Tax Planning
CCG encourages tax planning throughout the year rather than waiting for tax season. A mid-year planning meeting lets owners review financial performance, estimate tax liability and make adjustments before year end. Whether scheduled mid-year check-ins are included depends on the services in each client's engagement.
Deadlines and Penalties Business Owners Run Into
Business tax penalties are set by statute, and several apply even when no tax is owed.
Late S Corp and Partnership Returns
A late Form 1120-S or Form 1065 triggers a penalty calculated per shareholder or partner, per month, under sections 6699 and 6698 of the Internal Revenue Code. It applies even when the business owes no tax, because the return itself is what the owners rely on.
Missed Payroll and Sales Tax Deadlines
Payroll and sales tax run on their own calendars, separate from the income tax return. Missing those deadlines can bring fines for non-compliance that reduce profitability, on top of the tax already owed.
Decisions Made After the Year Closes
Many planning options for a tax year have to be acted on before December 31. A business that only engages with taxes at filing time has usually lost those options for that year.