At Dando Financial we specialize in individual and business tax returns so you don’t have to.

We are built from the ground up for a seamlessly integrated online tax experience. From uploading your documents to our client portal to reviewing and signing your final documents you will be amazed at how easy it can be!

Every one of our tax services includes a mid year tax consultation to check in on how your year is going and make sure that you are doing what you need to in order to have the best tax outcome come tax time.

Individual Form 1040

Form 1040 is what most people file come tax season. It includes income from your typical 9-5 job, interest & dividend income, retirement income as well as sole proprietor and rental income.

No matter how simple or complex your scenario you can be assured that we will get you the best tax result possible.

Business Form 1065

Form 1065 is for partnerships, they are typically small businesses or LLC’s but can be complex multilevel organizations. They offer more flexibility than S-Corporations in the way that distributions of retained earnings are handled, however, they have a downside in generally treating partner income as self-employment income.

Form 1065 produces a Schedule K-1 for each shareholder that is reported on the shareholder’s Form 1040. This means that the business tax return must be filed before any partner can file their personal taxes.

Business Form 1120

Form 1120 is for businesses that are “true” corporations, they are often referred to as C-Corporations or C-Corps, with the advent of the Limited Liability Company and the S-Corporation filing election, C-Corps are much a thing of the past for most small to medium sized businesses. There can be some advantages to using this tax structure but for the most part we advise business owners from staying away from them as they lead to double taxation of income.

That being said, we do have experience with Form 1120 filings and will be happy to help you file your businesses tax return and if we come across any alternatives that may produce a better outcome for you we will make sure to bring it up in our discussions throughout the tax filing process.

Business Form 1120S

Form 1120S is for small-to-medium sized businesses known as S-Corporations or S-Corps. They are the most prolific tax filing structure of businesses in the US and for good reason. They have much of the upside that C-Corps have without having to face the dreaded double taxation. They are similar to Partnerships in that each shareholder receives a Schedule K-1 upon completion of the tax return which is then reported on the shareholder’s Form 1040. However, unlike Partnerships, the income that flows to the shareholder is not taxed as self-employment income.

This is often our go-to recommendation for a business’s tax structure, if you are interested in setting up a new business or restructuring your tax scenario to take on the advantages of an S-Corp election please see our Business Formation & Reorganization page.

Nonprofit Form 990N/990

Forms 990N/990 are for nonprofit organizations that are meant to serve the community. There are various different nonprofits out there ranging from the designations 501(c)1 to 501(c)29, however, most people think of a nonprofit as a 501(c)3. Smaller nonprofits have a simple Form 990N, while most are required to file Form 990 and those that have unrelated income have to file Form 990-T.

A common misconception about these organizations is that they either do not, or should not, generate a profit. While there are some regulations on how much money a nonprofit can make, the key concept to take away is that they do not distribute their money to shareholders. The profit from the business gets put towards their stated cause and/or donated to other like-minded organizations.

Please reach out to our friendly staff if you have any questions or schedule an appointment today, you will be amazed at how easy your tax filing can be with Dando Financial!

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