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Corporation Tax
Our goal is to set up the proper legal form of business for you- matching your present business situation and future business potential. We will discuss with you whether a C-corporation or an S-corporation form of business is appropriate for you. If you already have one of the above mentioned entities and you need to change from C to S or the other way around, Obaseki & Associates Inc.will help you.
We will compute your corporate tax and any credits that may reduce tax
liability, alternative minimum tax, shareholders’ share of income or loss and do tax planning with you. .
If you bought or sold assets, bring records of when you
purchased/sold/exchanged assets and how much you
spent/received or what type of asset you received in exchange.
We will also need to see your records pertaining to your business
operations such as income earned/received for the year or a particular time period; all your business expenses for the year or a particular time period, such as president’s and other salaries if any, occupancy and charitable expenses. For your convenience, we can give you the list of approximate type of expenses you may have incurred and you will use it as a guide it if not sure what expenses qualify as business expenses. Our accountants will adjust the financial information you will provide us in accordance with the Internal Revenue Code rules.
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