Corviniti/Local Services/Business Tax Preparation in Brooklyn
Local Services / New York / Brooklyn
Business Tax Preparation in Brooklyn
Federal, New York State, and New York City business returns filed from reconciled books, with the UBT, the S election, and the state and city PTET handled, and no April surprises.
What it is. Preparation and filing of your federal, New York State, and New York City business returns for Brooklyn businesses, plus the owner's personal return, by a CPA working from reconciled books.
Where the value is. The New York City layer and the elections: the Unincorporated Business Tax, the entity-level city tax on S corporations, the state and city PTET, and estimated taxes managed so the return has no surprises.
Why a New York City firm. New York City business tax has its own forms and its own rules. A preparer outside the city rules leaves the UBT, the city PTET, and the city corporation tax on the table or gets them wrong.
Corviniti provides bookkeeping, accounting, and tax services to small businesses across Brooklyn, from Downtown Brooklyn and DUMBO to Williamsburg, Sunset Park, Bushwick, and Gowanus. Brooklyn is the most populous borough and one of the fastest-growing small-business economies in the city, and it files under New York City's tax rules.
We prepare and file business returns across all three layers: the federal return, the matching New York State return, and the New York City return a business outside the city generally does not file. The value is in the city layer and the elections: the Unincorporated Business Tax, the 8.85 percent city tax an S corporation pays because the city does not recognize the election, and the state and city PTET modeled per owner.
Corviniti keeps books, plans tax, and files returns for Brooklyn businesses under one roof, led by a CPA with Big Four experience. The full New York City tax detail behind this service is on our New York City business tax page; what it means for Brooklyn is below.
This page sits under Corviniti Accounting in New York City, our New York headquarters. That page covers the full New York City and New York State picture, and links to the rest of our local coverage.
Which return
Which returns does your business file
Each entity files a federal return, a matching New York State return, and a New York City return. The map, plus the calendar.
Business returns by entity type. Illustrative and not exhaustive.
City business taxes
The New York City business taxes
New York City taxes businesses on top of the state: the Unincorporated Business Tax, an entity-level tax on S corporations, the city PTET, and the MCTMT.
The New York City business taxes. Current NYC law; illustrative, not tax advice.
This is for you if
You need your business return filed and are not confident last year's city return was done right.
You never filed New York's CT-6, or did not know the city taxes your S corporation.
You are a profitable pass-through and have never heard your preparer mention the state or city PTET.
Your books are behind and a filing deadline is coming.
What you get
All three layers filed The federal, New York State, and New York City returns, tied to the books and each owner's K-1.
The Unincorporated Business Tax Determined, filed, reduced with the exemptions and credit, and coordinated with the personal return.
The elections that cut the bill The CT-6 S election and the state and city PTET, elected on time and reconciled.
The owner's return, coordinated Prepared alongside the business return so the K-1, the credits, and the city income tax line up.
How We Help
What you get
A CPA-led return preparation for Brooklyn businesses, priced flat, with the New York City tax detail handled.
All three layers filedThe federal, New York State, and New York City returns, tied to the books and each owner's K-1.
The Unincorporated Business TaxDetermined, filed, reduced with the exemptions and credit, and coordinated with the personal return.
The elections that cut the billThe CT-6 S election and the state and city PTET, elected on time and reconciled.
The owner's return, coordinatedPrepared alongside the business return so the K-1, the credits, and the city income tax line up.
When companies bring us in
You need your business return filed and are not confident last year's city return was done right.
You never filed New York's CT-6, or did not know the city taxes your S corporation.
You are a profitable pass-through and have never heard your preparer mention the state or city PTET.
Your books are behind and a filing deadline is coming.
The Detail
The gaps, and how we close each one
Service 01
The businesses Brooklyn depends on
The books and tax work should fit the local economy. Here is what Brooklyn's looks like and why it shapes the work.
How we handle it
Brooklyn's small-business base is broad: food and beverage manufacturing and artisanal production, the creative industries of design, film, media, and art, a growing layer of technology and hardware startups, apparel and consumer-goods makers, and the construction and real estate that come with the borough's growth. The Brooklyn Navy Yard, a 300-acre industrial park with hundreds of businesses, and Industry City and the Brooklyn Army Terminal in Sunset Park anchor the borough's maker and manufacturing economy, while Downtown Brooklyn is the city's third-largest central business district. Many of these are unincorporated businesses that owe the New York City Unincorporated Business Tax, and their books have to carry the inventory, job, and channel detail their trade needs. We keep them in that shape.
Service 02
The right returns for your entity: federal, state, and city
Each entity files at three levels, and the New York City return is the one out-of-town preparers forget.
How we handle it
We prepare the federal return, the matching New York State return, and the city return: a C corporation files the city Business Corporation Tax at 8.85 percent, an S corporation files the city General Corporation Tax at 8.85 percent because the city taxes it as an entity, and a sole proprietor or partnership files the Unincorporated Business Tax. The returns tie to each other and to the books, so an examiner has nothing to pull on.
The Unincorporated Business Tax, filed and reduced
The Unincorporated Business Tax catches New York City owners who assume a pass-through pays no entity-level tax. It does in the city: 4 percent on city business income.
How we handle it
We determine whether the UBT applies, file it on the city's forms, and claim the exemptions and credit that reduce it, then coordinate the state credit for the tax paid so the same dollars are not taxed twice. Filing generally starts once business gross income passes 95,000 dollars, and we track that threshold.
Service 04
The S election and the state and city PTET
Two of the biggest levers are the separate New York S election and the state and city PTET, which live outside the normal return on a strict calendar.
How we handle it
We confirm your New York S status and file the CT-6 where it is missing, model whether the state and city PTET pay under the current SALT cap, make both elections online together by the March 15 deadline (no extension), and reconcile the credits onto each owner's personal return.
Service 05
Brooklyn and New York City resources for owners
The registrations and filings Brooklyn owners ask about most are spread across city and county offices, each with its own rules.
How we handle it
The offices a Brooklyn owner actually uses: the Kings County Clerk at 360 Adams Street for assumed-name (DBA) certificates for sole proprietors and partnerships; the New York City Department of Finance for the Unincorporated Business Tax and the city corporation taxes; NYC Small Business Services for licensing and financing help; the Brooklyn Chamber of Commerce, the largest chamber in New York State; and industrial development groups like Evergreen Exchange in North Brooklyn. If a registration or filing is blocking you, ask us; it is usually a quick answer.
FAQ
Frequently asked questions
Do you prepare returns for contractors and the trades?
Yes, the business return and the owner's. The items that decide a contractor's tax: the accounting method for long jobs (cash, accrual, or percentage-of-completion), work in progress on the return, the New York capital-improvement versus repair sales tax split, Section 179 and bonus depreciation on vehicles and equipment, and the S corporation and PTET elections for a profitable shop.
Do you prepare returns for medical and dental practices?
Yes, for the practice and its owners. The items that matter at practice income levels: entity choice (an S corporation is common), reasonable owner compensation, equipment depreciation, retirement-plan contributions that shelter high income, and the PTET election modeled per owner.
Do you prepare returns for restaurants and cafes?
Yes, for the business and its owners. The items that matter: the FICA tip credit on the employer payroll tax paid on reported tips, which is real money most preparers skip, Section 179 and bonus depreciation on equipment and build-out, cost of goods sold, and a return that reconciles to the sales tax you filed.
Do you prepare returns for e-commerce and retail sellers?
Yes, for the business and its owners. The items that matter: inventory and cost of goods sold accounting, sales tax nexus across states and the marketplace facilitator rules, fulfillment and home-office treatment, and the entity and PTET elections as the business scales.
Do you prepare returns for law firms and professional services?
Yes, for the firm and its owners. The items that matter: the cash versus accrual method, client trust funds kept out of income, partner and shareholder compensation, the PTET election that is often a partner group's largest lever, and the qualified business income deduction limits that apply to specified service businesses at higher incomes.
Do you prepare returns for real estate investors?
Yes, for investors, landlords, and property managers. The items that matter: depreciation and cost segregation to accelerate deductions, the passive activity loss rules and the real estate professional status that can unlock them, 1031 like-kind exchanges, and per-entity returns when properties sit in separate LLCs.
Do you work with businesses across all of Brooklyn?
Yes, from Downtown Brooklyn, DUMBO, and Williamsburg to Sunset Park, Bushwick, and Gowanus, including the makers and manufacturers at the Brooklyn Navy Yard and Industry City. The work is done remotely on QuickBooks Online or Xero, so the neighborhood does not change the service. What matters is that your books are kept to New York City's tax rules.
Sources & authorities
Primary sources for this page
The pass-through entity tax.New York's PTET: the election, the March 15 deadline, and the credit each owner claims.
This page summarizes New York State and New York City tax rules for general information, and is not tax advice for your situation. Rates and thresholds change; confirm the current figures with the authority before you rely on them.
