CPA of Denver prepares federal Form 1120-S and Colorado S corporation tax returns for owner-operated businesses. We coordinate the entity return with shareholder reporting, payroll, basis, distributions, estimated taxes, and related individual tax filings.
Denver S Corporation Tax Preparation
An S corporation return is more than Form 1120-S. The return should reconcile to the books, payroll records, shareholder activity, prior-year basis information, and Schedule K-1 reporting. Coordinated preparation can reduce inconsistencies between the business and shareholder returns.
Form 1120-S and Schedule K-1 Preparation
- Federal Form 1120-S
- Colorado S corporation filings
- Schedule K-1 preparation
- Shareholder basis and distributions
- Officer compensation and payroll coordination
- Depreciation and fixed assets
- Estimated tax and owner-return coordination
S Corporation Tax Issues We Review
- Shareholder stock and debt basis
- Distributions in excess of basis
- Reasonable compensation and payroll
- More-than-2% shareholder health insurance
- Shareholder loans and repayments
- Asset purchases and depreciation
- Ownership changes
- Prior-year suspended losses
When a Balance Sheet Return Is Required
Some S corporations require Schedule L and book-to-tax reconciliation on Schedules M-1 and M-2. If your return requires balance-sheet reporting or more extensive accounting reconciliation, review our S corporation return with balance sheet service.
Coordinate the S Corporation and Shareholder Returns
Preparing the business and shareholder returns together helps coordinate Schedule K-1 income, shareholder basis, distributions, retirement contributions, payroll, and estimated tax payments.
Frequently Asked Questions
What records are needed for an S corporation return?
Typical records include year-end financial statements, a general ledger, bank and credit-card reconciliations, payroll reports, fixed-asset purchases, shareholder transactions, and the prior-year return.
Do S corporation owners need payroll?
An owner who performs services generally must consider reasonable compensation through payroll. The appropriate amount depends on the facts.
Can you prepare the shareholders’ personal returns too?
Yes. Coordinating the S corporation and individual returns helps keep Schedule K-1 income, basis, estimated payments, and planning items consistent.
Related Tax Services
S Corporation Return — No Balance Sheet — $750 fixed fee
What is included
- Federal Form 1120-S
- Up to two shareholders
- One state return
- K-1 preparation
- Electronic filing
What is not included
- Schedule L, M-1, or M-2 reconstruction
- Bookkeeping cleanup
- Payroll corrections
- Multiple states
- Late-election or reasonable-cause work
How the engagement works
- Confirm that your facts fit the listed scope.
- Accept the engagement terms and complete secure payment.
- Upload the requested documents through the secure intake process.
- Your return or filing is prepared and receives final CPA review.
- You review and sign all required authorizations before filing.
Begin this engagement
Live secure checkout: your card will be charged when you continue.
Services are subject to identity verification, complete documentation, signed engagement terms, final CPA review, and signed filing authorization. Additional work outside the stated scope requires approval and may involve an additional fee.
Form 1120-S Preparation for Denver S Corporations
CPA of Denver prepares federal Form 1120-S and applicable Colorado S corporation filings while coordinating the business return with shareholder reporting. Review commonly includes Schedule K-1 items, shareholder basis, distributions, officer compensation, payroll, depreciation and transactions between the corporation and its owners.
For an explanation of the federal return itself, see our Form 1120-S guide. Businesses whose return requires Schedule L and more extensive book-to-tax reconciliation can also review our S corporation return with balance sheet service.
Business Return and Shareholder Coordination
An S corporation return cannot always be evaluated in isolation. Salary, distributions, shareholder loans, health insurance, retirement contributions and basis can affect both the corporation and the owner’s individual return. Coordinating these items helps reduce inconsistent reporting and identifies issues that should be addressed before the following tax year.