Business Tax from reconciled books.
For owners who want business returns that tie to the general ledger and reflect how the company actually operates.
Business tax preparation at TreeStar begins with the books, not the forms. We reconcile balance sheet accounts, review inventory and cost of goods sold, and confirm owner activity before a return is prepared. We prepare Form 1120-S for S corporations, Form 1065 for partnerships, and Form 1120 for C corporations, along with the state returns that follow. For cannabis operators, IRC §280E limits deductions for businesses trafficking in Schedule I or II controlled substances, which makes cost of goods sold and inventory accounting especially important. We treat those schedules with the care they require.
How we help
Federal and state returns for S corporations, partnerships, and C corporations.
Balance sheet and equity accounts reviewed and tied out before figures move to the return.
Cost of goods sold supported on Form 1125-A, with attention to inventory methods and capitalization rules such as §263A and §471(c) where they apply.
Shareholder and partner schedules prepared so owners can file their individual returns with confidence.
Extensions filed when needed and estimated payments reviewed against current results.
Every engagement starts with a written scope, so you know exactly what we will handle for you before any work begins.
How it works
- 01 Collect
We gather the trial balance, prior returns, fixed asset detail, and owner information through TaxDome.
- 02 Tie out
We reconcile key accounts and propose any year-end adjustments for your review.
- 03 Prepare
We prepare the federal and state returns and owner schedules.
- 04 Review and file
We walk through the results with you, then e-file after you sign.
What you can expect
Returns that match the books line for line
Clear support for inventory and cost of goods sold
Owner schedules delivered in time for individual filing
Common questions
What if my books are not ready at year end?
We can scope a cleanup or catch-up engagement first, so the return is prepared from reliable numbers rather than estimates.
Why does cost of goods sold matter so much for cannabis businesses?
Under IRC §280E, many ordinary business deductions are limited for businesses trafficking in Schedule I or II controlled substances, while cost of goods sold is generally still taken into account. Accurate inventory accounting is therefore central to the return.
Do you prepare state returns too?
Yes. We prepare the related state returns, including returns for other states when your business has filing obligations there.