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For Partnerships
Partnerships are ideal for businesses with more than one owner who have not opted to incorporate as S-Corps or C-Corps. The tax filings for partnerships are reported on Federal Form 1065, along with any applicable state schedules. This entity type automatically arises when an EIN is registered for a business with multiple owners or if an LLC has multiple owners, equity partners, or members.
At Dimov Tax, we provide comprehensive support for partnership tax filings across all 50 states, ensuring that your business meets both federal and state tax requirements efficiently.
For S-Corporations
An S-Corporation (S-Corp) is a designation that allows businesses to enjoy reduced self-employment taxes, which can significantly affect the net income of your company. This designation is not automatic; it requires approval by the IRS following an application. S-Corps file their taxes using Federal Form 1120-S and relevant state schedules.
Our team at Dimov Tax guides you through the application process and ongoing compliance for S-Corps across all 50 states, helping you leverage the tax advantages this structure offers.
For C-Corporations
A C-Corporation (C-Corp) is a separate taxable entity that pays taxes at the corporate level, using Federal Form 1120, along with necessary state schedules. This structure is typically suitable for larger businesses and those planning to have multiple shareholders, including many startups in Delaware. C-Corps are the standard business entity type when you register your EIN as a corporation with the IRS or your state.
With Dimov Tax, you receive expert support for managing the comprehensive tax responsibilities that come with operating a C-Corp, across every state in the U.S.
For LLC
Navigating the tax requirements for Limited Liability Companies (LLCs) can be intricate, as the tax filings depend on the structure and number of owners involved. For single-member LLCs, taxes are typically reported on Federal Form 1040 Schedule C, which is used for sole proprietorships. In contrast, multi-member LLCs are treated as partnerships for tax purposes and file using Federal Form 1065, unless they choose to be classified differently, such as an S-Corporation or C-Corporation.
At Dimov Tax, we offer robust support for LLCs across all 50 states, ensuring that your business complies with both state and federal tax regulations.