CPA for Small Businesses and Their Owners in Los Angeles
MangoBooks works with small businesses and their owners throughout Los Angeles. We keep the company's books, run its payroll and prepare its tax return together with the owner's personal return, so both returns are prepared from the same records.
MangoBooks was founded by Felix Park, a licensed California CPA with an MBA from the UCLA Anderson School of Management. He spent about nine years in corporate finance at The Walt Disney Company, Cisco and DirecTV before opening the practice.
Situations We Handle
The business return and the owner's return. An S corporation's income, losses, deductions and credits flow through to its shareholders, who report them on their personal returns. We prepare the company's return and each owner's Schedule K-1, then the owner's federal Form 1040 and California Form 540 from the same figures.
Owner salary in an S corporation. Payments to a corporate officer must be treated as wages to the extent they are reasonable compensation for services to the corporation. The IRS lists factors such as duties, time devoted to the business and what comparable businesses pay for similar services. We review the salary with the owner, run it through payroll and revisit it during tax planning.
Payroll filings. Federal Form 941 is due by the last day of the month after each quarter ends. California employers file the DE 9 and DE 9C with the EDD each quarter. Forms W-2 for 2026 wages are due to employees and the Social Security Administration by February 1, 2027.
Books that support the return. Monthly bookkeeping keeps the records current through the year. The same books support the business return and financial statements for the owners or a lender.
California Specifics
- S corporation tax. California taxes an S corporation's net income at 1.5 percent, with an $800 minimum franchise tax. The minimum tax is waived for a new S corporation's first taxable year, though first-year net income is still taxed at 1.5 percent.
- LLC tax and fee. An LLC pays an $800 annual tax by the 15th day of the 4th month of its tax year. An LLC with total California income of $250,000 or more also pays an LLC fee, which is based on total income from California sources and is estimated and paid by the 15th day of the 6th month.
- Return due dates. Form 100S for an S corporation and Form 568 for an LLC classified as a partnership are due on the 15th day of the 3rd month after the tax year ends.
- Pass-through entity elective tax. For tax years through 2030, an entity taxed as an S corporation or partnership can elect each year to pay California tax at the entity level. Owners who are individuals and who consent claim a credit for their share on their California returns. The election is made on a timely filed original return, and the first payment is due by June 15 of the tax year. From 2026, a missed or short June payment no longer prevents the election, but it reduces the owners' credit.
- Statement of Information. An LLC files one with the Secretary of State within 90 days of registering and every two years after that; a corporation files within 90 days and then every year.
Services Involved
- Bookkeeping, monthly and catch-up
- Payroll, including the owner's salary
- Business Tax Preparation
- Individual Tax Preparation
- Tax Planning
- Business Formation
- Financial Statements
What Our Clients Say
MangoBooks is rated 5.0 on Google.
I've been searching for a new CPA for my small business ever since my previous one retired, and I'm so glad I found Felix and his team. They provide both bookkeeping and tax services, making my life much easier. Everything is handled remotely, which is incredibly convenient. Felix is exceptionally knowledgeable and was able to answer all my specific questions regarding my business's books. Highly recommend their services!
Frequently Asked Questions
Can MangoBooks prepare both the business return and the owner's personal return?
Yes. We prepare the company's return and each owner's Schedule K-1, then the owner's federal and California returns from the same year-end figures.
Should a small business be an LLC or an S corporation?
By default, an LLC with one member is disregarded for income tax and an LLC with two or more members is taxed as a partnership. A corporation or an LLC can elect S corporation status on Form 2553, generally no more than 2 months and 15 days after the start of the tax year the election is to take effect. The better choice depends on profit, the number of owners and payroll, and we work through it with the owner before anything is filed.
Where does the work start when the books are behind?
With catch-up bookkeeping, which brings the books up to date for the months or years that were missed. Monthly bookkeeping keeps them current after that, and the business and personal returns are prepared from the completed books.
Schedule a Consultation
Call (213) 255-4665 or send us a short message about your situation.
Please do not include Social Security numbers, bank account numbers or tax documents in the form.