Prasad Navneeth

• Prepared, reviewed, and filed federal tax returns including Forms 1120 (C Corporations), 1120-S (S Corporations), 1065 (Partnerships), and 1099s.
• Conducted detailed analysis of financial statements to identify tax planning opportunities, deductions, and credits.
• Managed accurate K-1 preparation, shareholder basis calculations, and allocation of income, losses, and distributions per partnership agreements.
• Ensured compliance with IRS regulations and timely submission of all tax filings.
• Advised clients on entity structure, capital expenditures, and distribution strategies to minimize tax liabilities.
• Assisted with 1099 compliance by reviewing vendor records and filing various forms (e.g., 1099-MISC, 1099-NEC), reducing the risk of IRS penalties.

HBK engaged outsourcing the business tax work from QX Global , affiliated with CPA firm RRBB through create Alliance

• Prepared, Reviewed, and filed Form 1120 for C Corporations, ensuring compliance with federal tax regulations and timely submission.
• Conducted detailed analysis of financial statements to identify tax planning opportunities, deductions, and credits.
• Collaborated with clients to review and address tax implications of business structure, capital expenditures, and distribution strategies.
• Prepared, Reviewed, and filed Form 1120-S for S Corporations, managing compliance with IRS requirements for pass-through taxation.
• Assisted clients with calculating shareholder basis, and distributions, and accurately reporting K-1 forms for each shareholder.
• Provided strategic guidance on tax-saving opportunities and minimizing shareholder-level tax liabilities.
• Prepared, Reviewed, and filed Form 1065 for partnerships, ensuring accurate reporting of income, deductions, and credits.
• Prepared partner K-1 forms and assisted with allocating income, losses, and distributions by partnership agreements.
• Conducted tax analysis to advise clients on structuring partnerships for optimal tax efficiency and compliance.
• Prepared and filed various 1099 forms (e.g., 1099-MISC, 1099-NEC) for clients, ensuring timely reporting of contractor payments and income.
• Reviewed vendor records and payment histories to ensure accurate 1099 reporting and compliance with IRS regulations.
• Assisted clients in managing 1099 compliance for independent contractors, freelancers, and vendors, mitigating potential penalties.

• Led the preparation, review, and filing of Form 1120 for multiple C Corporation clients, ensuring adherence to all federal tax regulations and deadlines.
• Conducted in-depth tax analysis to identify applicable tax credits, deductions, and potential tax liabilities for corporate clients.
• Managed the preparation of supporting schedules for C Corporation returns, including balance sheets, income statements, and tax calculations.
• Reviewed and analyzed corporate financial data to ensure accurate tax filing, minimizing the risk of audits or penalties.
• Prepared and filed Form 5471 for U.S. shareholders of controlled foreign corporations (CFCs), ensuring accurate reporting of foreign ownership, financial information, and related-party transactions in compliance with IRS requirements.
• Managed the preparation of Form 5472 for U.S. corporations with 25% or more foreign ownership, reporting related-party transactions and ensuring adherence to IRS regulations to avoid penalties.
• Prepared, Reviewed, and filed Form 1120-S for S Corporations, ensuring compliance with IRS requirements for pass-through taxation and accurate reporting.
• Assisted in the preparation of S Corporation tax projections and guided the impact of distributions and shareholder basis adjustments.
• Guided clients in maintaining S Corporation status, including eligibility criteria, shareholder requirements, and regulatory updates.
• Collaborated with tax advisors to perform year-end tax projections, ensuring optimal tax positions for S Corporation owners and shareholders.

• Created and submitted Form 1120 for C Corporations, guaranteeing correct income, deduction, and tax liability reporting by federal tax regulations.
• Oversaw C Corporations' federal and state tax returns, ensuring all local tax laws and multistate obligations were followed.
• Carried out a thorough tax analysis to find relevant tax credits, deductions, and ways to reduce tax liability on federal and state forms.
• Advised on state-specific tax matters, such as apportionment, state credits, and sales tax nexus, to guarantee correct filing and compliance in all jurisdictions.
• Ensured prompt adherence to federal tax laws by accurately preparing and filing Form 1120 tax returns for C corporations.
• Examined financial records to determine possible tax savings options and to report business income and spending appropriately.
• Identified and put into effect tax credits and deductions, such as depreciation and R&D tax credits, in order to maximize tax positions and reduce liabilities.
• Carried out extensive tax research to stay up to date with changing corporation tax laws and make sure that new rules and regulations were followed.
• Collaborated with C Corporation clients to evaluate business structure, providing advice on tax-efficient strategies for mergers, acquisitions, and capital investments.
• Prepared detailed supporting schedules for Form 1120, including tax calculations, income adjustments, and reconciliation of estimated payments.
• Ensured compliance with state and local tax requirements for C Corporations, addressing issues such as multistate filing, sales tax nexus, and local tax credits.
• Prepared and filed Form 5471 for U.S. shareholders of controlled foreign corporations (CFCs), ensuring accurate reporting of foreign ownership, financial information, and related-party transactions in compliance with IRS requirements.
• Managed the preparation of Form 5472 for U.S. corporations with 25% or more foreign ownership, reporting related-party transactions and ensuring adherence to IRS regulations to avoid penalties.