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Nicholynn

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 Tax Prep services are only available to taxpayers with businesses who are also using our Tax Planning, Accounting or Consulting services.  


Tax Planning versus Tax Preparation

What's the difference?

Tax planning and tax preparation are related but distinct activities in the field of taxation.


Tax planning refers to the process of arranging your financial affairs in a manner that minimizes the amount of tax you owe. It is a proactive approach that you can undertake throughout the year to minimize your tax liability.


Tax preparation, on the other hand, refers to the process of preparing and filing your tax returns after the end of the tax year. It involves compiling information about your income, deductions, and credits, and using that information to calculate your tax liability and determine the amount you owe or the refund you're owed. Tax preparation can be done by yourself or with the help of a tax professional.


In summary, tax planning focuses on reducing your tax liability before the tax year ends, while tax preparation is the process of calculating and filing your taxes after the tax year.  See below for the different tax planning and tax prep packages that Nicholynn Advisors' offers.  


TAX prep + planning packages

Business Tax Returns (Partnerships, C Corps and S Corps)

Nicholynn Advisors can provide year-round support and advice on how your business can stay prepared for tax season.

Elite Tax Package**

$3,750-$4,150

The Elite package includes everything we offer at Nicholynn Advisors. Business returns, personal returns, tax planning, meetings with your accountant, and much more.

  • Federal tax return (1120, 1120S, or 1065), plus 1040
  • Business and personal state return (same state)
  • Tax Return Review meeting with Tax Team
  • Bookkeeping review
  • Maryland Annual Report/Personal Property Return included
  • Quarterly tax calculations
  • Mid-year and Year-end tax planning sessions
  • Personal pre-tax meeting (if needed)

pro tax package**

$1,750-$2,050

The Pro package includes so much more than just tax prep.  We'll review (or create*) your financials in order to prepare your taxes.  Meet with your accountant to review the return via online meeting.

  • Federal tax return (1120, 1120S, or 1065) 
  • 1 State tax return
  • Tax Return Review meeting with Tax Team
  • Bookkeeping review
  • Maryland Annual Report/Personal Property Return included


* Creation of financial records may result in an additional fee

basic tax package**

$850-$1,050

This package requires being signed up for additional services (bookkeeping, consulting, etc.).  Also, it does not include any tax planning.

  • Federal tax return (1120, 1120S, or 1065)
  • 1 State tax return
  • Tax Return Review meeting with Tax Team


Additional Services/Fees:

-- Maryland Annual Reports are $150 if not included in a package.

-- New tax clients have a one time new client set up fee of $200.

-- Additional states are $200/state. 

-- Individual Returns for the business owners start at $250 for Single.


Sole Proprietor Packages (Includes Individual Return)

Have an LLC business (or a Sole Proprietorship) that files a Schedule C? Then these packages are for you!

ultimate Tax Package**

$3,200-3,600

Our Ultimate Tax package includes everything we offer for our single member LLC/sole proprietor business clients.

  • Preparation of Form 1040 + one state
  • Schedule C or Schedule E*
  • Bookkeeping review
  • Maryland Annual Report/Personal Property Return included
  • Quarterly tax calculations
  • Mid-year and Year-end tax planning sessions
  • Option to pay the fee monthly

Enhanced tax package**

$1,350-$1,750

Our Enhanced Tax package includes tax prep AND a bookkeeping review.  

  • Preparation of Form 1040 + one state
  • One Schedule C or Schedule E
  • Bookkeeping review
  • Maryland Annual Report/Personal Property Return included

tax prep only**

$450-$850

This package requires being signed up for additional services (bookkeeping, consulting, etc.). Our tax only package for sole proprietors includes your 1040 (all filing statues except Married Filing Separately) and your Schedule C.  This package includes tax prep for one state, but does not include any tax planning.  



Additional Services/Fees:

-- Maryland Annual Reports are $150.

-- New tax clients have a one time new client set up fee of $150.

-- Additional states are $85/state.  

** Prices listed above are STARTING AT pricing and are subject to change. For most accurate pricing, please request a quote.


Other Services

Bookkeeping Review

financial statement prep

financial statement prep

We will review your accounting software and ensure that all transactions are 1) recorded and 2) properly categorized before preparing your tax return. This includes reconciling your bank and credit card accounts and recording all year end adjustments.  NOTE: Financial statements are required in order to prepare a business return. 

financial statement prep

financial statement prep

financial statement prep

If you do not use an accounting software, we will prepare business financial statements (P&L) from historical records you provide (bank statements, credit card statements, etc.) and there is an additional fee to CREATE financial statements from scratch. 

individual returns

financial statement prep

multiple businesses

Starting prices for Individual Returns with a business return package: 

  • Single: $250
  • Head of Household: $325
  • Married Filing Joint: $400
  • Married Filing Separate: $300 per person    

multiple businesses

option to pay monthly

multiple businesses

Multiple businesses or investment/rental properties are subject to an additional fee, based on complexity.

option to pay monthly

option to pay monthly

option to pay monthly

The Elite and Ultimate tax packages have the option to be paid monthly instead of all up front.


ProfitGuard Tax Planning™

Safeguarding your profits with precision tax planning

ProfitGuard Tax Planning™ offers a vital solution for S Corp, partnership, and single-member LLC clients seeking proactive financial management. By providing meticulous quarterly estimated tax calculations, we address the challenge of navigating complex tax landscapes, ensuring accuracy and compliance. 


What's included?

The 45-minute virtual meeting session is an opportunity to delve into these calculations, fostering a deep understanding and allowing for strategic discussions that align with your unique business needs. The accompanying detailed report isn't just a snapshot; it's a tailored guide that highlights at least one tax-saving option. In a constantly evolving tax environment, our service provides a roadmap to navigate changes effectively. Additionally, our guidance on making the estimated tax payments aims to simplify a potentially intricate process. 


ProfitGuard Tax Planning™ is not just a service; it's a solution designed to empower business owners, helping them secure profits, minimize tax burdens, and optimize their financial strategy in an ever-changing landscape. 


What's the price?

$600 per quarter or $225 per month

sign me up!

didn't find what you were looking for?

As part of Nicholynn's mission, we work solely with business owners and non-profit organizations so you won't see individual only tax prep and planning options. 

 

At this time, we don't have any referral partners to send you to.

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Copyright © 2013-2025 Nicholynn Advisors, LLC - All Rights Reserved.

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