Ada Tax Solutions Frequently Asked Questions (FAQ)

Do you prepare both individual and business tax returns?

Yes, Ada Tax prepares individual tax returns (Form 1040) and business returns for sole proprietors, partnerships, corporations, S-Corp, estates, trusts, and nonprofit organizations.

I’m self-employed or have a single-member LLC. Which form do I need?

Most self-employed individuals and single-member LLCs file Form 1040 with Schedule C to report business income and expenses.

What is the difference between an LLC and an S-Corporation for taxes?

An LLC is a legal structure, while an S-Corporation is a tax election.

An LLC can be taxed as: Schedule C (sole proprietor) / Partnership (Form 1065) / S-Corporation (Form 1120-S)/ C-Corporation (Form 1120). We help determine which option best fits your situation.

Do you handle partnership and multi-member LLC returns?

Yes. Partnerships and multi-member LLCs typically file Form 1065, and each partner receives a Schedule K-1. We prepare both the business return and the K-1s.

Do you prepare corporate tax returns?

Yes, we prepare: Form 1120 for C-Corporations and Form 1120-S for S-Corporations. We also assist with shareholder K-1 reporting when applicable.

Can you help with Estates and Trusts?

Yes, we prepare Form 1041 for estates and trusts, including income reporting and beneficiary allocations.

Do you work with nonprofit organizations?

Yes, we assist nonprofit and tax-exempt organizations with Form 990 and related compliance requirements.

Can you help with W-2 and 1099 filings?

Yes, we assist businesses with Form W-2 for employees, Form 1099-NEC for independent contractors, and other forms, such as Form 1099-MISC. This includes proper reporting and compliance guidance.

I’m retired or receiving disability income. Do I still need to file?

Filing depends on your total income, filing status, and sources of income. We review your situation and advise whether a return is required.

Do you offer consultations before filing?

Yes, we offer consultations to review your tax situation, answer questions, and determine the best filing approach before preparing your return.

Is my information secure?

Yes, we take data privacy and confidentiality seriously and follow secure practices when handling client information.

Is this website tax advice?

No, this website provides general information only. Tax situations vary by individual and business. Personalized advice is provided after a review of your specific circumstances.