Personal tax preparation, also known as individual tax preparation, is the process of getting ready and submitting your personal income tax returns. This often involves gathering income statements like W-2s and 1099s, along with other relevant documents and records, identifying applicable deductions and credits, and completing the necessary federal and state tax forms before filing them with the IRS and relevant state tax authorities.
Corporate tax preparation is the process of preparing and filing tax returns for corporations. It involves calculating the corporation's income, deductions, credits, and overall tax liability in compliance with federal, state, and local tax law.
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