US S Corporation Tax Return in Ahmedabad
Expert S Corporation Tax Return Services for US Small Businesses
For many US small business owners, the S Corporation election is a powerful tool for saving on Self-Employment taxes. However, with great tax benefits comes great responsibility. Filing an S Corporation Tax Return (Form 1120-S) involves a complex interplay between corporate profit, shareholder payroll, and individual tax liability.
At A M Global, located in Ahmedabad, Gujarat, we specialize in managing this delicate balance. We provide comprehensive S Corporation Tax Return preparation services that keep you compliant with the IRS while maximizing the tax-saving potential of your entity structure. Whether you are a solo consultant or a multi-shareholder agency, we ensure your Form 1120-S is filed accurately and on time.
Our Comprehensive S Corp Services
We handle more than just the year-end form; we manage the entire compliance ecosystem.
Basis Tracking: We maintain detailed schedules of “Shareholder Stock Basis” and “Debt Basis.” This is crucial because if you take a distribution that exceeds your basis, it becomes taxable capital gains.
- The Schedule K-1 reports each shareholder’s share of the profit. We generate these accurately and distribute them to all partners, ensuring the numbers flow perfectly to their personal Form 1040.
This is the #1 audit trigger for S Corps. The IRS requires shareholder-employees to pay themselves a “Reasonable Salary” (W-2) before taking tax-free distributions.
We use industry benchmarking data to help you determine a defensible salary figure, balancing tax savings with audit safety.
Why Outsource to A M Global in Ahmedabad?
Cost-Effective Compliance
A US-based CPA may charge $1,500 to $3,000 for a single Form 1120-S. By outsourcing to A M Global in Ahmedabad, you receive the same GAAP-compliant quality at a fraction of the cost, improving your business’s bottom line.
Integrated Bookkeeping and Tax
An S Corporation Tax Return is only as good as the bookkeeping behind it. We offer bundled services where we handle your monthly QuickBooks/Xero and your year-end tax filing. This eliminates the “disconnect” between bookkeeper and tax preparer.
Deadline Management
S Corp returns are due March 15th, a full month before individual returns. Our team works around the clock in India to ensure you meet this early deadline, avoiding the heavy monthly penalty for late filing.
Industries We Serve
Our S Corporation Tax Return expertise covers:
Consultants & Contractors:
IT professionals, Engineers, and Marketing Agencies.
Medical Practices:
- Doctors and Dentists operating as Professional Corporations (PCs).
Real Estate Flippers:
Active real estate businesses that need to shield income from SE tax.
Digital Agencies:
Remote-first companies with shareholders in multiple states.
Industry Insight: The penalty for filing a late Form 1120-S is $220 per shareholder, per month. Don’t risk it. Read the official IRS Penalty Guidelines to understand the risks.
Frequently Asked Questions (FAQs)
Q1: When is the deadline for an S Corporation Tax Return?
Ans: The deadline is March 15th (for calendar year filers). If you cannot file by then, we can file Form 7004 to get an automatic 6-month extension. However, the K-1s must eventually be issued for shareholders to file their personal taxes.
Q2: What happens if I didn't pay myself a salary?
Ans: If you took distributions but $0 salary, you are at high risk of an IRS audit. We can help you perform a “Late Payroll” or reclassify distributions to correct this before filing your S Corporation Tax Return.
Q3: Do I need to file a return if my S Corp had no activity?
Ans: Yes. Once an S Corp election is made, you must file Form 1120-S every year, even if there was $0 income, until you formally dissolve the corporation.
Q4: Can an S Corp have foreign shareholders?
Ans: No. Under IRS rules, S Corporations cannot have “Non-Resident Alien” shareholders. If you want to bring in a partner from India or Europe, you may need to revoke the S election and become a C Corp. We can advise you on this restructuring.