Owner-operated businesses and farms
Connect business income, expenses, self-employment tax, estimated payments, and planning decisions with the rest of the household return.
Business income and your Form 1040
Where the business tax picture becomes the family tax return.
Level 3 focuses on individual tax preparation and planning for owners and families whose Form 1040 is affected by a sole proprietorship, farm, partnership, LLC, S corporation, rental portfolio, professional practice, or other pass-through activity.
Business activityRevenue, expenses, ownership, and records
Pass-through reportingSchedules and K-1s that reach the owner
Form 1040The family’s complete federal tax picture
Forward planningChoices that may still be available
A precise role
We are not trying to be the accounting department for every company.
Many accounting firms specialize in audits, financial statements, outsourced accounting, or the broader needs of larger organizations. Those services can be valuable. Level 3 has a different center of responsibility.
We focus on understanding how business activity reaches the owner’s individual return—and how that result connects with estimated payments, compensation, retirement contributions, other household income, and family goals.
The business information matters because it helps determine what ultimately happens to the owner and family.
What may flow through
Different businesses. One complete individual tax picture.
Partnership and LLC interests
Understand K-1 activity, ownership changes, distributions, outside activity, and other information that may affect the individual return.
Closely held companies
Coordinate wages, pass-through income, distributions, retirement contributions, estimated taxes, and owner-level decisions.
Rentals and other activities
Bring rental and other pass-through reporting into the larger tax picture, including the facts that may affect how activity is treated.
Industries are different. The owner-level need is shared.
Built for families whose tax lives include a business.
We may work with farmers, real-estate professionals, manufacturers, healthcare practices, consultants, and other closely held businesses. The common thread is not the industry or a rigid revenue threshold—it is the need to understand how the business affects the owner’s individual taxes and long-term decisions.
Prepare accurately
Bring business schedules, K-1s, W-2 income, rentals, and other household tax information into one dependable return.
Plan before year-end
Consider estimated payments, income timing, deductions, retirement contributions, purchases, and cash needs while choices may remain.
Explain plainly
Translate the return and planning decisions into language the owner and family can understand and use.
Coordinate the tax picture
Recognize when a business decision also affects retirement contributions, family cash flow, succession, estimates, or another important tax goal.
Level 3 evaluates the tax preparation and planning relationship based on the facts and complexity of the owner’s situation—not simply the business’s industry or annual revenue.
A healthcare specialization within a broader owner focus
Healthcare remains important to Level 3 without limiting who belongs here.
Physicians, nurses, and healthcare practice owners may share the same owner-level tax needs as farmers, real-estate professionals, manufacturers, and other entrepreneurs. Level 3 also has a particular interest in healthcare professionals who want the financial strength and personal balance to pursue better long-term outcomes.
Start with what reaches your return
Your business and your family should not become two separate tax conversations.
Tell us generally what activities, entities, and decisions are part of your situation. Sensitive records will be requested only through the secure client portal if the relationship moves forward.
Begin the owner tax questionnaire