Tax Services
C Corp Returns led by Manhattan CPAs
C corporation tax returns serve businesses structured as traditional corporations with Form 1120 preparation. This service covers federal corporate in...
Service Overview
C corporation tax returns serve businesses structured as traditional corporations with Form 1120 preparation. This service covers federal corporate income tax filings, state corporate tax returns, and financial statement analysis for businesses with C-corp status. We handle depreciation schedules, inventory accounting, and corporate tax credits for established businesses.
The service includes reviewing corporate financial statements, calculating taxable income, and preparing all required schedules. We analyze business expenses, depreciation, and tax credits available to C corporations. For Manhattan, NY businesses, we coordinate federal returns with New York State corporate tax filings and handle local business tax requirements.
Typical documents include corporate profit and loss statements, balance sheets, depreciation schedules, and shareholder records. We help with quarterly estimated tax calculations and ensure proper reporting of corporate income and expenses. The process involves separating business operations from shareholder activities, calculating corporate-level taxes, and preparing accurate financial reporting.
We prepare complete Form 1120 returns with all required schedules, calculate corporate income tax liability, and ensure compliance with IRS requirements for C corporations. For businesses with international operations, we handle foreign tax credits. The service benefits established businesses that need professional corporate tax preparation and compliance.
What You Get
- ✓Form 1120 preparation for C-corporations
- ✓Corporate income tax calculation and payment
- ✓Depreciation schedule preparation and maintenance
- ✓Inventory accounting and cost of goods sold
- ✓New York State corporate tax return preparation
- ✓Quarterly estimated tax payment calculations
- ✓Corporate tax credit analysis and claims
- ✓Financial statement review and reconciliation
Manhattan, NY Specific Information
What is the corporate tax rate for Manhattan businesses?
Manhattan, NY C-corporations are subject to federal corporate tax rates plus New York State corporate tax rates. Federal rates range from 21% for taxable income over $500,000, while New York State has rates up to 7.25% with local additions.
How do you handle depreciation for Manhattan C-corps?
For Manhattan, NY C-corporations, we calculate depreciation using MACRS methods, Section 179 deductions, and bonus depreciation for qualified property. We maintain detailed depreciation schedules and ensure proper cost basis tracking.
What about inventory accounting for Manhattan businesses?
Manhattan, NY businesses with inventory prepare Form 1125-A with cost of goods sold calculations. We review inventory methods, ensure proper valuation, and help with LIFO or FIFO accounting consistent with financial statements.
Do you handle New York State corporate taxes in Manhattan?
Yes, we prepare New York State Form 355C for Manhattan, NY C-corporations. We calculate state apportionment based on sales, property, and payroll factors, and ensure compliance with New York corporate tax requirements.
What tax credits are available for Manhattan C-corps?
Manhattan, NY C-corporations may qualify for R&D credits, work opportunity credits, and New York State business incentives. We review eligibility and prepare the necessary forms to claim available corporate tax credits.
How do you handle shareholder loans for Manhattan corporations?
For Manhattan, NY corporations with shareholder loans, we ensure proper documentation and interest calculations. We review loan terms to determine if loans should be treated as dividends or capital contributions for tax purposes.
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Ready to get started with C Corp Returns?
Contact our Manhattan-based CPAs for professional c corp returns services. We understand your specific tax situation and can help you navigate complex requirements with confidence.