Bailes & Co., P.C.

Tax Services

Tax Preparation for Businesses,Owners, Trusts and Families

Tax returns are the end result of an entire year of financial activity. Bailes & Co. prepares federal and state returns for closely held businesses, business owners, individuals, trusts, and estates while coordinating the accounting, ownership, investment, and tax information behind each filing.

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Serving clients from offices in Tyler and Dallas, Texas.

+ Serving Texas since 1991
+ Business & individual returns coordinated together
+ Direct access to experienced tax professionals
+ Tyler & Addison offices

The full financial picture

Tax preparation thataccounts for everythingbehind the return.

Preparing a tax return involves more than entering forms into software. A complete filing may require information from a business, investment accounts, real estate, trusts, mineral interests, ownership transactions, prior-year filings, and other financial activity.

Bailes & Co. helps organize that information, identify unresolved questions, prepare the appropriate federal and state filings, and coordinate related business and personal returns. Our goal is to produce a return that accurately reflects the information provided while giving clients a clear understanding of what is being filed and what may need attention in the coming year.

Tax preparation at a glance

  • Federal and state tax returns
  • Business and individual return coordination
  • Partnership, corporation, and S corporation filings
  • Trust and estate income-tax returns
  • Texas franchise tax reports
  • Amended and prior-year returns when appropriate
  • Tyler office and Addison office by appointment

Who we serve

Built for complicatedfinancial lives.

Closely Held Businesses

We prepare returns for corporations, S corporations, partnerships, limited liability companies, and other privately owned businesses. When appropriate, we coordinate the business return with the owners’ individual filings and related tax-planning needs. This is especially valuable for companies with:

  • Multiple owners or entities
  • Changing ownership or compensation
  • Equipment and depreciation activity
  • Inventory or job-cost accounting
  • Operations in more than one state
  • Real estate or investment holdings
  • Oil-and-gas or mineral-interest activity

Business Owners and Their Families

A business owner’s personal tax return rarely stands alone. Income, distributions, estimated payments, investments, retirement contributions, property transactions, and ownership changes may all affect the filing.

Preparing the business and individual returns within the same professional relationship can reduce fragmented communication and help identify questions before filing deadlines arrive.

Trusts, Estates and Fiduciaries

Trustees, executors, beneficiaries, and families may need assistance preparing fiduciary income-tax returns and coordinating information among attorneys, financial advisors, beneficiaries, and other involved parties.

The appropriate return and filing requirements depend on the entity, its activity, and the surrounding circumstances. Bailes & Co. works with clients and their advisors to gather the relevant information and define the required tax work.

Individuals With More Complex Returns

We also assist individuals whose returns involve more than routine wage income, including those with:

  • Investment income
  • Rental properties
  • Business ownership
  • Mineral or royalty income
  • Multiple entities
  • Trust or estate activity
  • Significant transactions
  • Multi-state filing considerations

Scope

Tax returns we prepare

Bailes & Co. prepares a range of federal and state tax filings, including:

  • Individual income-tax returns
  • Partnership returns
  • Corporate income-tax returns
  • S corporation returns
  • Trust and estate income-tax returns
  • Texas franchise tax reports
  • Amended returns when appropriate
  • Prior-year returns based on the engagement and available records

The exact scope of an engagement is determined after reviewing the taxpayer, entities involved, filing history, available information, and applicable deadlines.

Before we can file

When tax preparation becomes more complicated

Some returns require additional coordination before preparation can begin. This often happens when:

  • Business books have not been completed or reconciled
  • Personal and business transactions have been mixed
  • Ownership changed during the year
  • A company purchased or sold significant assets
  • The taxpayer received an inheritance or trust distribution
  • A business operates through multiple related entities
  • Prior returns contain an error or omission
  • Documents are missing or arrive after filing deadlines
  • The taxpayer received correspondence from a taxing authority
  • A major transaction occurred without advance tax planning

When additional bookkeeping, accounting cleanup, tax planning, or advisory work is needed, that scope should be discussed separately rather than buried inside the tax-return engagement.

The engagement

What to expect from thetax preparation process.

01

Initial Conversation and Engagement

We begin by identifying the taxpayers and entities involved, the returns that may be required, important changes from the prior year, and any known filing concerns.

02

Document Request and Information Collection

The firm provides an organizer or document request based on the engagement. Clients submit tax forms, financial statements, ownership records, transaction details, and other relevant information through the firm’s designated process.

03

Accounting Review and Follow-Up Questions

Before the return is completed, the team reviews the information received and identifies missing records, inconsistencies, unusual changes, and questions that require clarification.

04

Return Preparation and Professional Review

The applicable federal and state returns are prepared based on the information provided and reviewed under the firm’s established procedures.

05

Client Review, Approval and Signatures

The client receives the required filing information and signature requests. Material questions should be addressed before the return is authorized for filing.

06

Electronic Filing and Confirmation

After authorization, eligible returns are electronically filed. The client receives confirmation and information regarding payments, estimates, extensions, or other next steps associated with the filing.

07

Continuing Support

When a client receives correspondence related to a return Bailes & Co. prepared, the firm can review the notice and discuss the appropriate response. Additional representation or research may require a separate engagement depending on the matter.

Preparation vs. planning

Tax preparation andtax planning aredifferent.

Tax preparation reports financial activity that has already occurred. Tax planning evaluates decisions before they are finalized.

Learn more about our Tax Planning services →

Preparation determines how completed transactions and annual activity should be reported on the applicable returns. Planning may evaluate the timing, structure, and tax consequences of a future transaction or financial decision. Clients should consider tax planning before:

  • Buying or selling a business
  • Transferring ownership
  • Purchasing major equipment or property
  • Changing compensation or distributions
  • Making substantial gifts
  • Completing an estate or succession strategy
  • Exercising investment or equity options
  • Entering a major contract or transaction
  • Making year-end financial decisions

One firm

Coordinated tax, accountingand advisory support.

Tax-preparation problems often begin outside the return itself. Incomplete books, unclear ownership records, unrecorded transactions, and inconsistent financial reporting can delay filing and create uncertainty. Because Bailes & Co. also provides accounting, tax planning, business valuation, consulting, litigation support, forensic accounting, and specialized oil-and-gas services, clients can address related financial issues within one professional firm when the circumstances call for it.

Tax Planning

Evaluate transactions and important financial decisions before the options narrow.

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Outsourced Accounting

Maintain or clean up the financial records needed for dependable reporting and tax preparation.

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Business Valuation

Determine the value of a business interest for ownership, estate, transaction, or dispute-related purposes.

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Oil & Gas Accounting

Coordinate specialized well, royalty, working-interest, and entity accounting with related tax filings.

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Where we work

Tax preparation in Tyler,Addison and across Texas.

Bailes & Co. provides tax-preparation services from its Tyler office and its Addison office in the Dallas–Fort Worth area, available by appointment.

The firm works with business owners, families, fiduciaries, and privately held companies throughout East Texas, North Texas, and other Texas communities when the engagement fits the firm’s experience and capabilities.

Work with the professionals preparing your return

Experienced guidance with direct communication

Tax questions are easier to resolve when clients can communicate with professionals who understand the return, the underlying financial records, and the broader client relationship. Bailes & Co. emphasizes direct access and practical explanations throughout the preparation process.

Chad Maddux
CPA / CITP
Certified Public Accountant · With Bailes & Co. since 2007
Tax servicesIRS representationLitigation & fraud engagements
Meet Chad Maddux →

Frequently asked questions

Tax preparation, answered.

Bailes & Co. prepares federal and state returns for individuals, partnerships, corporations, S corporations, trusts, and estates, as well as Texas franchise tax reports. The firm also considers amended and prior-year return engagements based on the facts, available records, and filing requirements.

Yes. Coordinating business and personal returns can be particularly useful for owners of closely held companies because income, distributions, compensation, deductions, estimated payments, and ownership activity may affect more than one filing.

Clients should begin gathering information as documents become available rather than waiting until immediately before a deadline. Starting earlier gives the preparer time to identify missing information, complete accounting work, resolve questions, and determine whether an extension may be appropriate.

Documents vary by taxpayer and return type. They may include prior-year returns, Forms W-2 and 1099, brokerage statements, business financial statements, fixed-asset records, ownership information, rental-property records, trust documents, transaction records, and estimated-tax payment confirmations.

Possibly, but the books may need to be completed, reconciled, or corrected before the tax return can be prepared. Bailes & Co. can evaluate the condition of the records and define any accounting cleanup as a separate or expanded scope of work.

Tax preparation reports activity that has already occurred. Tax planning evaluates future decisions, alternatives, and timing before transactions are completed. Many tax-saving opportunities depend on action taken before the end of the tax year or before a transaction becomes final.

The firm can review a prior filing to determine whether an amended return may be appropriate. The engagement will depend on the issue involved, the supporting records available, the affected tax years, and applicable filing deadlines.

The preparer may request additional records, explanations, or corrected documents. Depending on the missing information and the filing deadline, the firm may recommend extending the return rather than filing with incomplete or unsupported information.

Bailes & Co. can review correspondence relating to returns the firm prepared and help explain the issue and possible next steps. More extensive research, amended filings, or representation before a taxing authority may require a separate engagement.

Filing a valid extension does not, by itself, increase the likelihood of an audit. An extension generally provides additional time to file the return; it does not extend the time to pay tax that may be due. Clients who may owe tax should discuss estimated payment requirements before the original deadline.

Fees depend on the number and type of returns, condition of the accounting records, number of entities or states involved, complexity of transactions, and the amount of follow-up work required. The scope and fee arrangement should be discussed before substantial work begins.

The return is prepared and reviewed according to Bailes & Co.’s internal procedures and the scope of the engagement. Please contact the firm to discuss the professionals responsible for your specific engagement and how the review is structured.

Get started

Bring the full tax picture into focus.

Whether you are filing for a closely held business, coordinating business and personal returns, administering a trust or estate, or dealing with a more complicated financial year, begin with a conversation about the returns involved and the records needed.

Speak with a tax professional →Call (903) 561-5859

Meet with Bailes & Co. in Tyler or through the Addison office by appointment.

Reviewed by Ryan Bailes · Last reviewed July 27, 2026