|27225 Camp Plenty Rd., Suite 5
Santa Clarita, CA 91351
Tel. 661.523.DOCS (3627)
|Mon, Tues, Wed, Fri||10:00 - 5:30|
|Thursdays||10:00 - 7:30|
|Sat (by appointment only)||10:00 - 1:00|
All hours by appointment
If you own a business that is incorporated, you’ll be glad to know that tax preparation is available at the Anaheim store of The Document People. There you’ll find Aida Torres, who will be going over with you all the main filing guidelines.
Here is a list of a few guidelines to keep in mind.
First of all, Corporations taxed as a C corporation that either are filed in California, or registered in California to conduct business or that even only receive sources of income in California must file Form 100, which is the California Corporation Franchise or Income Tax Return.
The return due date is March 15th (not April 15th like most people assume, that’s the deadline for individuals).
A C Corporation is taxed on its net income at a rate currently of 8.84%. Corporations are subject to a minimum tax of $800 per year. The minimum franchise tax of $800 is due the first quarter the first quarter or the accounting period, and must be paid whether you have conducted business or not, whether you have accumulated a sizable profit, or operated at a loss, even if you have operated for a part of the year. The minimum tax is waived as a way of encouraging people to form new businesses, but for the first year only, and only for corporations. LLC owe it even for a fraction of a year.
Do not confuse the flat fee of $800 to the Franchise Tax Board with the income of the corporation. If you have an income right from the first year, then you are still taxed at the rate of 8.84%.
We know taxes can be confusing and intimidating. Don’t take chances when it comes to tax preparation and returns. The penalties you might incur in case of mistakes are high. It’s just not worth the risk. The Document People of Anaheim are here to help with taxes, making filing your corporate tax return simple and convenient.
Aida Torres at The Document People of Anaheim can help with taxes. Whether you are a single person with just one W2 form from your employer, or an independent contractor with a few items to deduct as expense, or a small business owner trying to figure out where to start, The Document People of Anaheim can help with your taxes!
Call today to schedule an appointment to prepare your tax return at The Document People in Anaheim (714) 772.0449.
The Document People is a network of legal document assistants, paralegals and notaries. In selected locations we offer tax services and tax preparation.
The information contained in this blog – including information of a legal nature – is provided for informational purposes only, and should not be construed as legal advice on any subject matter.