Business tax returns have lots of questions. At Halon Tax, we try and minimize the hassle of them as most are always the same, but there are a few that have to be updated each year.
Name Change: If you filed paperwork with the state or IRS to change the name of your corporation or LLC, select "Yes" and the IRS will match what is entered on the return with what they have on file.
Address Change: Similar to name change, if you have changed your mailing address from what it was in previous years, select "Yes" and the IRS will enter the address on this return as your current mailing address.
Accounting Method: Most businesses operate on the "cash basis" method of accounting. Our software defaults to that. If you know that you use the accrual method, you may select that as well. Accrual means you will be paying tax on revenue you have billed for but not received. If you have questions about this you can contact support and we can help you with it.
Own Any Partnerships or S-corps: If the company you are setting up owns any other businesses, check "Yes" here. We will contact you for information related to those businesses and make sure they are accounted for correctly in Halon.