Corporate & Business Tax Services in Nassau County, NY
From sole proprietors to S-Corps and multi-member LLCs, Newburst Financial files accurate business tax returns and provides year-round tax strategy for Nassau County companies. We go beyond compliance — we help you pay less, legally.
Business Entities We File For
- Sole Proprietors: Schedule C as part of your personal return — self-employment tax, home office, vehicle deductions
- Single-Member LLC: Default disregarded entity (Schedule C) or S-Corp election
- Multi-Member LLC / Partnership: Form 1065 with K-1s for all members
- S-Corporation: Form 1120-S, shareholder K-1s, reasonable compensation analysis
- C-Corporation: Form 1120 annual corporate tax returns
- New York State Business Returns: IT-204 (partnership), CT-3 (corporation), and all required state filings
Year-Round Business Tax Services
- Quarterly Estimated Taxes: Calculate correct Q1–Q4 payments to avoid IRS underpayment penalties
- S-Corp Election Analysis: Determine if Form 2553 election will save your business significant self-employment taxes
- Deduction Maximization: Home office, vehicle, Section 179 equipment, retirement plans, and more
- Payroll Tax Filings: Form 941 quarterly and 940 annual FUTA filings for employers
- Year-End Tax Planning: December strategy sessions to minimize your current-year tax liability before it’s too late
S-Corp vs. LLC: Could You Save Thousands?
For Nassau County business owners earning $50,000+ in net profit, an S-Corp election is often worth analyzing. As a default LLC or sole proprietor, 100% of net profit is subject to self-employment tax (~15.3%). With an S-Corp election:
- You pay yourself a “reasonable salary” — subject to payroll taxes
- Remaining profit is distributed — not subject to self-employment tax
- The savings can be $5,000–$15,000+ per year depending on your income level
- There are additional administrative requirements — payroll, separate corporate formalities
Newburst Financial will run the numbers for your specific situation at no charge during a consultation.
IRS & New York State Representation
- Responding to IRS notices and NY Department of Taxation correspondence
- Audit assistance for small business returns
- Installment agreement setup for tax debt resolution
- Penalty abatement requests for qualifying circumstances