S-Corp & Partnership Returns
S-Corps and partnerships are not just more complicated tax forms — they’re a fundamentally different way of running a business with distinct rules, opportunities, and traps. Getting them right matters, and getting them wrong is expensive.
Alpine Tax & Consulting specializes in pass-through entity returns for S-Corps, partnerships, and multi-member LLCs. This is the service where the difference between an experienced, attentive tax professional and a generic filing service is most apparent.
Who This Service Is For
- S-Corp shareholders who are also active in the business and need both the 1120-S and their personal return handled in coordination
- Partnership members and multi-member LLC owners filing under partnership rules
- Business owners considering an S-Corp election who want to understand the tax implications before committing
- Existing S-Corp owners who suspect their reasonable compensation isn’t set correctly — or who’ve never had it reviewed at all
What’s Included
Form 1120-S — S-Corporation Return
Alpine Tax prepares the full S-Corp return including income, deductions, credits, and the shareholder Schedule K-1s that flow through to each owner’s personal return. The entity return and personal returns are prepared together to ensure accuracy and consistency.
Form 1065 — Partnership Return
For partnerships and multi-member LLCs taxed as partnerships, Alpine Tax prepares the Form 1065 and the corresponding K-1s for each partner or member.
Schedule K-1 Preparation
K-1s are only useful if they’re accurate. Alpine Tax prepares K-1s that correctly reflect each owner’s share of income, deductions, and credits — and explains what each line means for their personal return.
Reasonable Compensation Analysis
This is one of the most consequential — and most misunderstood — requirements for S-Corp owners. The IRS requires that S-Corp owners who perform services for the business pay themselves a reasonable salary before taking distributions. Set it too low, and you risk an audit and back payroll taxes. Set it too high, and you eliminate the self-employment tax savings that make the S-Corp election valuable in the first place.
Alpine Tax reviews your business activity, industry benchmarks, and compensation structure to help you establish and document a defensible reasonable compensation position.
QBI Deduction Optimization
The Section 199A qualified business income deduction can reduce your pass-through income by up to 20% — but it comes with limitations tied to income level, W-2 wages paid, and whether your business is a specified service trade or business. Alpine Tax analyzes your eligibility and structures the return to maximize the deduction where appropriate.
Officer Payroll Coordination
S-Corp owners running payroll for themselves need their W-2 and the corporate return to align. Alpine Tax coordinates with your payroll records to make sure everything is consistent and properly documented.
Why This Service Is Different
Pass-through entity returns done well require more than filling out forms. They require understanding how the entity, the owner’s compensation, and the personal return interact — and making deliberate decisions about each.
Alpine Tax brings that integrated perspective. Vinnie reviews the full picture: entity structure, compensation strategy, deduction positioning, and how all of it flows to your personal return. Many business owners who come to Alpine Tax after working with general-purpose tax preparers find that there were planning opportunities being left unused year after year.
A Note on Timing
S-Corp and partnership returns (Forms 1120-S and 1065) are due March 15 — a full month before the individual filing deadline. If your entity return is late, your K-1s are late, and your personal return can’t be filed on time either. Planning ahead matters.
Ready to Talk About Your Business?
Schedule a consultation to discuss your S-Corp or partnership tax needs.
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