At Omar Financial, we specialize in tax preparation and planning for small businesses, self-employed individuals, and independent contractors. Whether you run a sole proprietorship, LLC, S Corporation, or work as a freelancer, we ensure that you take advantage of every available tax deduction while staying compliant with IRS regulations.

Who Can Benefit from Our Business Tax Services?

Our tax services cater to:

• Self-Employed Individuals (Freelancers, Consultants, Gig Workers)
• Independent Contractors (1099-NEC, 1099-K workers)
• Small Business Owners (LLCs, Sole Proprietors, S Corporations)
• Real Estate Investors and Landlords
• E-commerce Sellers (Amazon, Shopify, eBay, Etsy)
• Rideshare & Delivery Drivers (Uber, Lyft, DoorDash, Instacart)
• Trucking & Transportation Business Owners
• Professional Service Providers (Doctors, Lawyers, IT Consultants, etc.)
• Startup Founders and Entrepreneurs
• Construction, HVAC, Plumbing, and Electrical Contractors
• Beauty & Wellness Professionals (Hair Stylists, Barbers, Personal Trainers, etc.)

Business Tax Preparation Services We Offer

1. Business Tax Return Preparation & Filing

We prepare and file tax returns for various business entities, including:

• Sole Proprietorships (Schedule C)
• Single-Member and Multi-Member LLCs
• S Corporations (Form 1120-S)
• Partnerships (Form 1065)
• C Corporations (Form 1120)
• Nonprofit Organizations (Form 990)
• Multi-State Business Filings
• Quarterly and Annual Tax Filings

2. Self-Employed & 1099 Tax Services

• Schedule C filing for self-employed individuals and sole proprietors.
• 1099-NEC, 1099-K, and 1099-MISC income reporting.
• Deduction optimization for business expenses, such as:
  • Home office deduction
  • Vehicle and mileage expenses
  • Advertising and marketing costs
  • Business travel and meal expenses
  • Equipment and technology purchases
  • Healthcare expenses for self-employed individuals
• Quarterly estimated tax payments to avoid IRS penalties.

3. Small Business Tax Deductions & Credits

We identify all possible deductions and tax credits to minimize tax liability, including:

• Qualified Business Income (QBI) Deduction (20% pass-through deduction)
• Startup Cost Deductions
• Depreciation & Section 179 Expensing
• Employee Retention Credit (ERC)
• Research & Development Tax Credits
• Work Opportunity Tax Credit (WOTC)
• Health Insurance Deduction for Small Business Owners
• Self-Employment Tax Deductions

4. Payroll & Employment Tax Compliance

• Preparation of W-2s and 1099s for employees and contractors.
• Payroll tax calculations and compliance (FICA, FUTA, SUTA).
• Filing Form 940 (FUTA Tax) and Form 941 (Quarterly Payroll Tax Returns).
• Assistance with worker classification (W-2 vs. 1099 contractors).

5. Business Tax Planning & Strategy

• Year-round tax planning to reduce tax burdens and avoid surprises.
• Entity structure consultation (LLC, S-Corp, C-Corp) to optimize tax benefits.
• Tax-deferred retirement planning (SEP IRA, Solo 401(k), SIMPLE IRA).
• Strategic tax-saving approaches for growing businesses.

6. Multi-State & International Business Tax Filing

• State tax filings for businesses operating in multiple states.
• Sales tax compliance for online and brick-and-mortar businesses.
• International tax considerations for business owners with global clients.

7. Real Estate & Rental Property Tax Services

• Rental property income and expense reporting (Schedule E).
• Depreciation deductions and cost segregation strategies.
• 1031 Exchange guidance to defer capital gains taxes.
• Short-term rental (Airbnb, VRBO) tax compliance.

8. Audit Assistance & IRS Tax Resolution

• IRS audit representation and tax dispute resolution.
• Penalty abatement and payment plan negotiations.
• Offer in Compromise (OIC) for tax debt reduction.
• Innocent spouse relief applications.
• Tax lien and levy assistance.

9. Business Bookkeeping & Financial Reporting

• Accurate bookkeeping and financial statement preparation.
• Profit & Loss (P&L) Statements, Balance Sheets, and Cash Flow Reports.
• QuickBooks and accounting system setup & support.
• Reconciliation of business income & expenses for tax efficiency.

10. Amended Business Tax Returns & Prior Year Filings

• Amendment of previous tax returns (Form 1040X, 1120X, 1065X).
• Filing of unfiled business tax returns to avoid penalties.

Why Choose Omar Financial for Your Business Tax Needs?

✅ Industry-Specific Expertise – We understand tax strategies for various industries and professions.
✅ Maximize Deductions & Minimize Tax Liability – We ensure you claim all eligible business deductions and credits.
✅ IRS Compliance & Audit Protection – Our team helps protect you from tax audits and penalties.
✅ Year-Round Support – Unlike seasonal tax preparers, we provide ongoing tax and business consulting.
✅ Affordable & Transparent Pricing – No hidden fees; customized pricing based on business needs.
✅ Secure & Accurate Tax Filing – We use IRS-approved e-filing for efficient processing.

Get Started with Your Business Tax Preparation Today!

📞 Call Us: 781 324 3330
📧 Email: info@omarfinancial.com
🏢 Office Location: 14 Summer St, Suite 202, Malden MA 02148