Business Tax Preparation
Raleigh NC

Choosing the right tax preparer generally comes down to your needs, budget, and the complexity of your tax situation. If you’re based in the Raleigh area, C.E. Thorn, CPA, PLLC provides accounting and bookkeeping services for small business owners. For ongoing monthly accounting clients, we can generally prepare your individual tax return alongside your business return. This service is available only to small business owners who have their business tax preparation handled with us.

To help make the most of your appointment, our guide on preparing for a tax preparation meeting with your CPA walks through what to bring.

If you’re strictly in need of individual tax preparation and aren’t a business accounting client, there are many reputable accountants in the Raleigh area to choose from. We’d encourage researching, reading reviews, and asking friends or colleagues for recommendations before choosing who prepares your taxes.

For businesses, tax preparation fees are generally deductible as an ordinary and necessary business expense. As a business owner, you typically cannot deduct the portion of fees related to preparing personal returns or personal deductions. For individuals who work for an employer, tax preparation fees are generally not deductible. Because deductibility can depend on your specific situation, it’s worth confirming the details with your CPA before filing.

Many businesses miss potential deductions each year, so having a local, established CPA prepare your taxes may help you take advantage of opportunities that apply to your situation and support your business tax preparation needs overall. A CPA can also help reduce the risk of errors that might otherwise draw an IRS notice or trigger a costlier correction down the line.

If you’re based in or around Raleigh, reach out to C.E. Thorn, CPA, PLLC at 919-420-0092 to talk through your business tax preparation needs.

Tax preparation is the process of compiling your financial records and filing an accurate return by the applicable deadline. Tax planning happens throughout the year and generally looks ahead, considering things like business structure, timing of income and expenses, and available deductions or credits that may be relevant to your situation. Many small business owners find that pairing the two, rather than only meeting with a CPA once a year at filing time, can help surface opportunities that a once-a-year filing conversation might miss.

The exact list can vary depending on your business structure and industry, but appointments generally go more smoothly when you bring items such as prior year tax returns, profit and loss statements, balance sheets, payroll records, and documentation for any major purchases or asset sales during the year. Our guide on preparing for a tax preparation meeting covers this in more detail so you can come prepared.

C.E. Thorn, CPA, PLLC works with a range of small business structures, including sole proprietorships, partnerships, LLCs, and S corporations. Filing requirements and potential deductions can differ significantly depending on how your business is structured, so it may be worth discussing your entity type directly with our office to understand what generally applies to your situation.

Missing a filing deadline can potentially result in penalties and interest, and the specifics generally depend on your entity type, how late the filing is, and whether an extension was filed in advance. If you think you may miss a deadline, reaching out to a CPA as early as possible may help you understand your options, which can include filing for an extension where applicable. Our tax compliance tips page covers more on staying on top of filing obligations throughout the year.

Individual tax preparation is generally offered as part of our ongoing service for small business accounting clients, rather than as a standalone service. If you’re an existing business client, your individual return can typically be handled alongside your business filing. If you’re only in need of individual tax preparation and don’t have an ongoing business accounting relationship with our firm, we’d recommend researching other reputable local preparers, and reading reviews or asking for referrals is generally a good starting point.