S-Corp Tax Preparation
S-Corp Tax Preparation in Georgia
Form 1120-S, K-1 schedules, reasonable salary analysis, and Form 2553 elections—prepared by Enrolled Agents for Georgia S-Corporations.
Quick Answer: S-Corp Tax Preparation
We prepare Form 1120-S federal and Georgia state S-Corp returns, issue K-1s to shareholders, and coordinate with owner-employee payroll so reasonable salary and distributions line up cleanly.
- Form 1120-S and Schedule K-1 preparation
- Reasonable salary analysis and documentation
- Form 2553 S-election filing (including late-election relief)
- Coordinated owner Form 1040 preparation
What Our S-Corp Service Includes
- • Form 1120-S federal return preparation
- • Georgia Form 600S state S-Corp return
- • Schedule K-1 for each shareholder
- • Basis tracking for each shareholder
- • Form 2553 S-election (new or late relief)
- • Reasonable salary study and documentation
- • Accountable plan reimbursements
- • Year-end planning and distribution review
Related Services
S-Corp FAQs
When does an S-Corp election make sense?
Generally once profitable service or consulting businesses clear around $70k–$80k in net income. The election lets you split income between W-2 wages (subject to payroll tax) and distributions (not subject to the 15.3% SE tax). We run the numbers on your actual income before recommending the election.
What is a reasonable salary for an S-Corp owner?
The IRS requires S-Corp owner-employees to take a reasonable salary before distributions. Reasonable means comparable to what you'd pay someone else to do your role—based on industry data, your experience, and hours worked. Underpaying yourself triggers IRS audits; we help you land the right number and document it.
Do you handle Form 2553 S-election filings?
Yes. We prepare and file Form 2553 to elect S-Corp status, including late-election relief under Rev. Proc. 2013-30 when you missed the 75-day window. We also handle Georgia's S-Corp registration and state elections.
What deadline applies to S-Corp returns?
Form 1120-S is due March 15 for calendar-year S-Corps. That's a month earlier than individual returns. Late filings trigger $220/shareholder/month penalties up to 12 months. Extensions (Form 7004) give six more months to file but not to pay.
Can an S-Corp owner also file personal taxes with you?
Yes, and you should. We coordinate the Form 1120-S business return with the owner's Form 1040 so K-1 income flows correctly, reasonable salary matches payroll filings, and estimated taxes for the owner are sized appropriately.