As you can see, we’ve had quite a few changes around here! From our rebrand to our new service offerings, we are committed to continuing so serve clients new and old by creating year-round partnerships at whatever frequency makes sense for your business. But undoubtedly, we knew that one of the top questions would be:
WHAT ABOUT MY TAXES?
We figured a post detailing exactly how taxes work at Little Fish would help answer that very question.
WHAT DOES THIS MEAN FOR EXISTING CLIENTS?
We are currently continuing tax service for current clients who are self-employed or small business owners, with the following exceptions:
Little Fish is no longer servicing nonprofit business entities. We are happy to provide a referral for an accountant for whom this is their specific skill set to help you continue your outsourced accounting and tax needs.
Incorporated business can only receive tax preparation and filing as a part of Virtual CFO or Tax Prep + Filing Suite service. This includes the following:
Corporations
Partnerships
S-Corps
If you are a sole proprietor, freelancer, or entrepreneur of a business with one owner, nothing is changing for you for now. We invite you to join us in our new Tax Prep + Filing Suite, but will complete your tax return independently for the 2020 tax season (in 2021). We will send a separate email later this year with details.
WHAT DOES THIS MEAN FOR NEW CLIENTS?
Little Fish is not currently accepting new clients for tax prep and filing for single or prior year returns unless you are signed up for Virtual CFO or Tax Prep + Filing Suite Service.
Virtual CFO Service is available to:
Freelancers, sole proprietors, and one-person businesses
Partnerships
Corporations
S-corps
Tax Prep + Filing service is available to:
Freelancers, sole proprietors, and one-person businesses
Partnerships
S-corps
Corporations are not eligible for Tax Prep + Filing Suite Service. The business return only is included for Partnerships and S-Corps; personal returns can be added for an additional fee. Freelancers and sole proprietors file their business returns as part of their personal return, so the service accounts for both.
Have questions about whether this is a good fit for you? Please head to sign up for tax service and let’s talk about your situation and how we can best serve your needs.