Business Tax Preparation in Billings, MT

A business return is not just a bigger personal return. It requires a working balance sheet that ties to the prior year, a fixed asset and depreciation schedule maintained across years, correct handling of owner distributions and basis, and — for S-corps and partnerships — accurate K-1s that flow to owners' personal returns.

When these pieces are wrong, the errors compound. A wrong basis calculation can silently generate the wrong capital gain years later when you sell the business. A wrong K-1 forces every shareholder to amend. A missed election can lock in an unfavorable tax treatment for the life of the entity.

Because we also do your bookkeeping (for most clients), the return process starts with a book close review, not a stack of shoeboxes. We reconcile the balance sheet, tie retained earnings and equity accounts, review the fixed asset schedule, and lock the trial balance.

From there, the return is prepared, reviewed by a second set of eyes, walked through with you, and e-filed. K-1s are delivered to owners early so personal returns are not held up.

For clients who keep their books elsewhere, we accept your trial balance and general ledger and start with a book-to-tax review — with a clear scope and fee if cleanup is needed.

S-corporation returns require particular attention to reasonable compensation, shareholder basis, distributions, health insurance for 2% shareholders, and accountable plans. Get any of these wrong and you invite audit risk or lose deductions. We handle each one as part of the standard process, not as an add-on.

If you have employees, property, or sales in more than one state, you likely have a nexus and filing obligation there. We handle multi-state returns and can advise on when a new state creates a filing requirement. On the Montana side, we handle state-specific credits, apportionment, and the state's pass-through entity elections where beneficial.