Tax Returns
Returns for the practice and its owner, quarterly estimates, and IRS or state notices handled by enrolled agents.
What This Is
We prepare the tax return for your practice and the personal return for you as the owner. We also calculate your quarterly estimated payments and respond to any IRS or state notices that come in during the year. The work is done by enrolled agents, who are federally licensed to represent taxpayers before the IRS.
Baker’s has prepared tax returns since 1995 and handles around 1,000 returns a year. We are a bookkeeping and tax practice, not a CPA firm. Our clients are mostly owners of independent medical and healthcare practices, so we’re used to physician partnerships, S-corps owned by one doctor, med spas split into two entities, and owners who live in one state while their practice operates in another.
The Returns
The Returns
The business return for your practice, whether that’s an S-corp, partnership, or sole proprietorship. The K-1s that pass income through to the owners. Your personal federal return and the state returns you need, including filings in more than one state when your practice or your providers cross state lines.
The Rest of the Year
The Rest of the Year
Quarterly estimated payments calculated from your actual numbers, not last year’s guess. Reminders before each due date. When a letter arrives from the IRS or a state tax agency, you send it to us and an enrolled agent reviews it, figures out what they’re asking for, and responds on your behalf.
Why This Matters
Practice owners tend to be high earners, and that changes how much a mistake costs. A missed deduction, an estimated payment that’s too low, or income reported on the wrong form can mean thousands of dollars in extra tax, penalties, and interest. A return that looks fine on the surface can still leave money on the table if the person preparing it doesn’t understand how a medical practice works.
The return is also only as good as the books behind it. If your bookkeeping and your tax preparation are handled by different people who never talk, the return gets built on numbers nobody checked. Then a notice shows up a year later, and you spend your evenings trying to figure out which number was wrong and who should fix it.
Surprise Tax Bills
Surprise Tax Bills
Many owners set their quarterly estimates once and never revisit them. The practice grows, a new provider comes on, or you take a larger distribution, and by April you owe far more than you planned for. On top of the balance due, there’s often an underpayment penalty for not paying enough during the year.
Notices Nobody Answers
Notices Nobody Answers
IRS and state letters have deadlines, and they don’t go away when ignored. A simple question about a mismatched form can turn into an assessed balance if no one responds in time. Most owners don’t know whether a notice is routine or serious, and they shouldn’t have to sort that out between patients.
What Changes
Your returns are built from books we already know, so the numbers on the return match what happened in your practice. If we keep your books in QuickBooks Online, the tax work starts from records that were reconciled every month instead of a pile of statements gathered in March. You know roughly what you’ll owe well before the deadline.
You also have someone to call. The enrolled agents who prepare your return are the same people who handle notices and answer questions during the year. They learn your practice and your family situation over time, which is why so many of our clients have stayed with us for two and three generations. We also look ahead to next year while preparing this year’s return, so you hear about savings before it’s too late to act on them.
No April Surprises
No April Surprises
Estimated payments get adjusted when your income changes, not after the year is over. By the time your return is ready, the amount due is close to what we told you to expect months earlier. You can plan for it instead of scrambling to move money around in April.
Real Representation
Real Representation
When the IRS or a state agency sends a letter, an enrolled agent handles it from start to finish. They can speak to the IRS for you, provide documentation, and resolve the issue without you sitting on hold. Most notices end quietly when someone who understands them responds correctly and on time.
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