C corporation tax preparation covers the filing requirements for businesses taxed as C corporations, including preparing Form 1120 and any required state corporate income tax returns. This service includes calculating corporate taxable income, determining tax liability, preparing estimated tax payments, and ensuring compliance with accumulated earnings tax rules. We handle depreciation schedules, inventory accounting methods, and any required apportionment calculations for multi-state operations. The process involves reviewing financial statements, reconciling book and tax differences, calculating any alternative minimum tax, and preparing required disclosures. We prepare both federal and Massachusetts corporate returns, accounting for state-specific apportionment formulas and tax credits available to Boston-based corporations. The service includes electronic filing and providing detailed workpapers for the corporation's records.
What's included
Comprehensive c corp returns
Form 1120 federal corporate income tax return preparation
Massachusetts corporate excise tax return preparation
Estimated tax payment calculations and Forms 1120-W
Depreciation and amortization schedule preparation
Book-tax difference reconciliations
Alternative minimum tax calculations
Apportionment calculations for multi-state operations
Electronic filing and workpaper preparation
Common situations
When you need c corp returns
Technology firms with research and development tax credits
Retail businesses with multiple locations requiring apportionment
Professional corporations with officer compensation planning
FAQs
C Corp Returns questions answered
What is the difference between C corporation and pass-through entity tax preparation in Boston, MA?
C corporation tax preparation in Boston, MA involves preparing Form 1120 with corporate-level taxation, while pass-through entities flow income through to owners. C corporations face double taxation but have more flexibility with compensation and can retain earnings without owner tax consequences.
How are corporate tax rates calculated for businesses in Boston, MA?
Corporate tax rates in Boston, MA start at 21 percent federal rate for taxable income over $500,000. Massachusetts imposes a corporate excise tax with rates from 5 percent to 9.5 percent, plus a minimum tax. We calculate both federal and state tax liabilities as part of the preparation.
What records should C corporations maintain for tax preparation in Boston, MA?
C corporations in Boston, MA should maintain complete financial statements, depreciation schedules, inventory records, officer compensation documentation, and records of all business expenses. Keep separate corporate bank accounts and maintain accurate minute books for corporate governance.
How do estimated tax payments work for C corporations in Boston, MA?
C corporations in Boston, MA must make quarterly estimated tax payments using Form 1120-W. These are due April 15, June 15, September 15, and January 15. We calculate payments based on the previous year's tax or current year projections to avoid underpayment penalties.
What is apportionment and why does it matter for Boston, MA corporations?
Apportionment in Boston, MA determines what portion of a multi-state corporation's income is taxable in Massachusetts. It uses a sales factor formula that considers where sales occur, which can significantly affect tax liability for corporations with operations in multiple states.
Compliance Note
We provide tax preparation services. We do not provide legal advice. Complex corporate tax situations may require additional professional consultation beyond basic preparation.
Example engagement
How we help with c corp returns
Service Type: C-Corp Returns
Location: Boston, MA
Scope: Preparation of federal and Massachusetts corporate income tax returns
Client Situation
A Boston-based manufacturing company with multiple states of operation
Our Approach
Review financial statements, calculate apportionment, prepare Form 1120 and state returns, file electronically
Expected Outcome
Complete corporate tax returns filed by April 15 with accurate tax calculations and apportionment
Example of the type of engagement we can handle
Ready to get started
Get help with c corp returns
Contact us to discuss your C corporation tax preparation needs in Boston, MA. We can share references upon request.