Calculator
S-Corp savings estimate
Rough payroll-tax saving of an S-election. Not advice; the reasonable-salary number is the whole game.
Calculator
Late-filing penalty estimate
Federal failure-to-file and failure-to-pay penalties plus interest, approximated.
Individuals & businesses
Tax appointment checklist
- Last year's federal and state returns (new clients)
- Photo ID and Social Security or ITIN numbers for everyone on the return
- W-2s, 1099-NEC/MISC/K, 1099-INT/DIV/B, 1099-R, SSA-1099
- K-1s from partnerships, S-Corps and trusts
- Brokerage and crypto statements with cost basis
- Rental income and expenses by property; closing statements for purchases and sales
- Business income and expense summary, or access to the books
- Mortgage interest (1098), property tax, charitable receipts, medical expenses
- Childcare provider details, education (1098-T), student-loan interest (1098-E)
- Health insurance forms (1095-A/B/C)
- Estimated tax payments made, with dates
- Foreign accounts: highest balance during the year, per account
- Any IRS or state letters received
New businesses
New-business setup checklist
- Choose entity and state; check name availability
- File formation documents; appoint a registered agent
- Obtain EIN (no SSN needed for non-resident owners)
- Operating agreement or bylaws signed; ownership recorded
- S-Corp election (Form 2553) if it saves tax — decide before the deadline
- Open a business bank account; no personal spending through it
- Seller's permit (CDTFA) if you sell goods; city business licence
- Register with EDD before the first payroll; workers' comp policy
- Set up QuickBooks Online and connect bank feeds
- Calendar: Statement of Information, $800 franchise tax, estimated taxes, sales-tax returns
- Form 5472 reminder if any owner is a non-U.S. person
- Insurance: general liability, professional liability as needed
- Contracts, invoices and W-9s from every contractor
Talk to us this week.
A free 15-minute call. Next step and a fixed fee, in writing. No hourly billing, no obligation.