State & IRS Business Tax Return Preparation

Professional Tax Preparation for Hawaii Businesses

Running a business comes with more than one tax deadline.

Depending on how your business is structured, you may need to file federal and State income tax returns, employment tax returns, information returns and other required filings throughout the year.

Tax Help Hawaii provides professional business tax preparation to help business owners file accurately, stay compliant and address past-due business tax returns when necessary.

Call NOW for Your FREE Tax Consultation
310-966-0266

What Taxes Does a Business Need to File?

Your business structure and activities determine which taxes, returns and payment requirements apply.

Federal business taxes can include:

Your business may also have Hawaii State tax filing and payment requirements.

Tax Help Hawaii can review your business structure and help determine which federal and State returns apply to your situation.

Sole Proprietor & Schedule C Tax Returns

If you operate a sole proprietorship, your business income and expenses are generally reported on Schedule C with your individual Form 1040 federal income tax return.

Self-employed individuals may also be responsible for self-employment tax and estimated tax payments.

Proper business recordkeeping is important for accurately reporting income, expenses and other tax information.

Partnership Tax Returns — Form 1065

Partnerships generally file Form 1065, U.S. Return of Partnership Income.

A partnership generally doesn’t pay federal income tax at the entity level. Instead, income, deductions, gains, losses and other tax items generally pass through to the partners.

Each partner generally receives a Schedule K-1 reporting their share of the partnership’s tax items.

For most calendar-year partnerships, Form 1065 is generally due on the 15th day of the third month following the end of the tax year.

An eligible partnership can generally request an automatic six-month filing extension.

S Corporation Tax Returns — Form 1120-S

An S corporation generally files Form 1120-S, U.S. Income Tax Return for an S Corporation.

Like a partnership, an S corporation generally passes income, deductions, gains and losses through to its shareholders, who receive a Schedule K-1.

For most calendar-year S corporations, Form 1120-S is generally due on the 15th day of the third month following the end of the tax year.

An eligible S corporation can generally request an automatic six-month extension to file.

C Corporation Tax Returns — Form 1120

A C corporation generally files Form 1120, U.S. Corporation Income Tax Return.

Unlike partnerships and S corporations, a C corporation is generally a separate federal income-tax-paying entity.

For most calendar-year C corporations, Form 1120 is generally due on the 15th day of the fourth month following the end of the tax year.

Special rules can apply to certain fiscal-year corporations.

Business Tax Extensions

A filing extension can give a business additional time to file its tax return, but it generally does not provide additional time to pay tax that’s due.

Waiting until the extended filing deadline to address the tax payment can result in additional interest and potentially penalties.

Tax Help Hawaii can help business owners understand both their filing deadline and payment obligations.

Employment & Payroll Tax Returns

Businesses with employees generally have additional tax responsibilities.

These can include:

Federal income tax withholding
Social Security and Medicare taxes
Federal unemployment tax
Form 941 employment tax returns
Form 940 FUTA returns
W-2 and W-3 reporting
Applicable Hawaii employment-related tax requirements

Businesses that have fallen behind on employment taxes may face penalties and collection problems.

If your business already owes employment taxes, visit our IRS Payroll Tax Relief service page for information about resolving past-due payroll-tax liabilities.

Hawaii State Business Tax Returns

Hawaii businesses can have State tax obligations in addition to their federal filing requirements.

The returns that apply depend on the type of business, its activities and how the business is organized.

Tax Help Hawaii can help businesses coordinate applicable Hawaii State and federal tax filings so that important filing requirements aren’t overlooked.

1099s and Other Information Returns

Businesses may also need to file information returns reporting certain payments made during the year.

Depending on the transaction and applicable reporting requirements, these can include forms such as:

Form 1099-NEC

Form 1099-MISC

Other Form 1099 series returns

Form 1096 when applicable to certain paper-filed information returns

Information-return requirements and filing deadlines vary. Businesses filing 10 or more information returns in aggregate generally must file them electronically under current IRS rules.

Behind on Business Tax Returns?

Missing a business filing deadline doesn’t mean you should continue waiting.

Unfiled business returns can lead to penalties, IRS notices and additional tax problems.

Tax Help Hawaii can help determine:

Which business tax returns are missing
Which records are needed
What federal and State filings need to be completed
Whether penalties have been assessed
Whether the business owes back taxes
Whether tax-resolution assistance may be appropriate

Getting the required returns filed is often an important first step toward resolving a larger business tax problem.

Business Tax Preparation With Tax Help Hawaii

Whether you operate as a sole proprietor, partnership, S corporation or C corporation, accurate tax preparation begins with understanding your business.

Tax Help Hawaii can help organize your business tax situation, prepare applicable returns and identify tax issues that need additional attention.

Our goal is to help you file accurately, remain compliant and understand where your business stands.

Get Help With Your Business Tax Returns

Whether you need a current-year business tax return prepared or need help catching up on past-due filings, Tax Help Hawaii is ready to help.

Call for Your FREE Tax Consultation: 310-966-0266

Serving businesses in Maui and throughout Hawaii, with qualifying federal tax matters available to businesses nationwide.

Tax filing requirements, deadlines, deductions and tax liabilities depend on business structure, activities, tax year and individual circumstances. Tax Help Hawaii does not guarantee a particular tax result.