Bailes & Co., P.C.

Tax Services

Tax Preparation for Businessesand Individuals Across Texas

Bailes & Co. provides professional tax preparation for businesses, business owners, individuals, trusts, and estates throughout Texas. When your finances involve multiple businesses, investments, real estate, or other complex transactions, our experienced CPAs coordinate the records and related filings so you understand exactly what is being reported.

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Serving clients from offices in Tyler and Dallas, Texas.

+ Serving Texas since 1991
+ Experienced CPAs
+ Business & individual tax preparation
+ Tyler & Addison offices

The full financial picture

Tax preparation thatconsiders the details.

Tax preparation involves more than gathering forms and entering numbers. Business income, investments, property transactions, ownership changes, and other financial activity can affect how we prepare your return.

At Bailes & Co., we take the time to understand your circumstances, review the information supporting your return, and identify questions that need to be resolved before filing. For business owners, that often means coordinating the company’s financial information with their individual tax obligations. For families, trusts, and estates, it can mean coordinating multiple financial records and working with other professional advisors.

Our goal is straightforward: prepare your returns accurately, communicate clearly, and help you understand what we file.

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 help

Built for complicatedfinancial lives.

Closely Held & Privately Owned Businesses

Business tax preparation requires an understanding of how a company operates, how it’s structured, and how its financial activity affects its tax obligations. Bailes & Co. prepares returns for corporations, S corporations, partnerships, LLCs, and other privately held businesses — especially those managing:

  • Multiple owners or business entities
  • Ownership changes and compensation arrangements
  • Equipment purchases and depreciation
  • Inventory and job-cost accounting
  • Real estate and investment holdings
  • Operations in multiple states
  • Oil-and-gas or mineral interests

Business Owners & Their Families

For business owners, personal and business taxes are often connected. Income, distributions, compensation, estimated payments, retirement contributions, and investments can affect both business and individual filings.

Having one accounting firm coordinate those returns can simplify communication and help identify questions that different professionals might overlook when they handle each filing separately.

Individuals With Complex Tax Situations

Not every individual tax return is straightforward. We assist individuals whose returns involve more than routine wage income, including those with:

  • Rental properties
  • Investment income
  • Significant transactions
  • Business ownership
  • Mineral or royalty income
  • Trusts or estates
  • Filing obligations in multiple states

Trusts, Estates & Fiduciaries

Trustees, executors, and families often face tax responsibilities that require careful coordination. Bailes & Co. assists with trust and estate income-tax returns, including gathering information from beneficiaries, attorneys, financial advisors, and other involved parties when necessary.

We help determine the information required for the engagement and prepare the applicable fiduciary income-tax filings.

Scope

Federal & state tax preparation services

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

We also coordinate business and individual filings for clients whose financial activity affects multiple returns. 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 requires additional accounting work

Sometimes the biggest challenge isn’t the tax return itself — it’s getting the underlying financial records ready. Additional coordination is often needed 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 work falls outside the original tax-preparation engagement — bookkeeping, accounting cleanup, tax planning, or advisory work — we discuss that additional scope before moving forward rather than burying it inside the tax-return engagement.

The engagement

What to expect from ourtax preparation process.

We believe clients should understand what’s required, what happens next, and where to ask questions.

01

Initial Consultation

We begin by discussing your tax preparation needs, the returns involved, changes from previous years, and any known financial or filing concerns. This helps us determine the appropriate scope of work and identify the taxpayers and entities involved.

02

Document Collection

Our team provides a document request or organizer based on your situation. You submit the required tax forms, financial statements, ownership information, and supporting records 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

Preparation and Professional Review

We review the information provided, follow up on missing records or inconsistencies, and prepare the applicable federal and state returns. Returns are reviewed according to the firm’s established procedures.

05

Client Review, Approval and Signatures

You receive the required filing information and signature requests. Material questions should be addressed before the return is authorized for filing.

06

Approval, Electronic Filing and Confirmation

Once you have reviewed and authorized the returns, eligible filings are submitted electronically. We then provide confirmation and information about any applicable payments, estimates, extensions, or other next steps.

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 addresses financial activity that has already occurred and reports it on the appropriate returns. Tax planning helps you evaluate the potential tax consequences of decisions before you make them.

Learn about Tax Planning →

If you’re considering selling a business, purchasing major equipment, transferring ownership, or completing another significant transaction, discussing the tax implications ahead of time may help you make a more informed 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

The advantage of coordinatedtax & accounting services.

When your accounting firm understands your business, its ownership, and its financial history, tax preparation becomes more connected. Business transactions can affect an owner’s personal return, changes in ownership can create new reporting obligations, and incomplete records can delay filing. Because Bailes & Co. offers tax preparation alongside accounting, tax planning, business advisory, valuation, and specialized financial services, clients can address related financial matters within one firm when they need additional expertise.

Tax Planning

Evaluate the potential tax consequences of important business and personal financial decisions before they are finalized.

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Outsourced Accounting

Maintain, organize, and reconcile the financial records needed for dependable business reporting and tax preparation.

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Business Advisory

Work with experienced professionals on financial and operational matters affecting your business.

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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 accounting for oil and gas operations, royalty interests, and related entities.

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Where we work

Serving businesses andindividuals throughout Texas.

Bailes & Co. works with privately held businesses, business owners, families, and fiduciaries across Texas. Our offices are in Tyler and Addison, but our client relationships extend statewide.

Whether you’re managing an established company, coordinating several business entities, or dealing with a more complex personal tax situation, we welcome the opportunity to discuss how our firm can help.

Experienced tax professionals. Established Texas relationships.

Decades of experience,in one firm.

Bailes & Co. has served businesses and individuals since Robert L. Bailes founded the firm in 1991. Our professionals bring experience across tax preparation, accounting, business advisory, valuation, and other specialized financial matters.

Meet Chad Maddux, CPA/CITP

Focused on tax, with direct communication

Chad Maddux joined Bailes & Co. in 2007 and focuses primarily on tax services. As a Certified Public Accountant and Certified Information Technology Professional, Chad helps clients with tax matters and represents taxpayers before the Internal Revenue Service, the State of Texas, and other taxing authorities. His experience also includes litigation and fraud-related engagements.

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. We prepare business and individual returns and can coordinate related filings. This is particularly valuable for business owners whose income, compensation, distributions, investments, and other financial activity affect multiple returns.

Yes. Bailes & Co. serves clients throughout Texas. While our offices are in Tyler and Addison, our services aren’t limited to those communities. Contact us to discuss your tax preparation needs and how we can work together.

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.

The required documents depend on your situation. Common records include prior-year tax returns, Forms W-2 and 1099, business financial statements, investment statements, property records, ownership information, rental-property records, trust documents, and records of estimated tax payments. We provide a document request based on your engagement.

Possibly. We may need to complete, reconcile, or correct your accounting records before we can prepare the tax return. Bailes & Co. can review 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.

We can review previously filed returns to determine whether an amended filing may be appropriate. The scope depends on the issues involved, the supporting records available, the affected tax years, and applicable filing requirements.

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 related to returns we prepared and discuss the appropriate 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.

Tax preparation fees depend on the types and number of returns, the condition of the accounting records, the number of entities or states involved, the complexity of the financial activity, and any additional work required. We discuss the scope and fee arrangement based on your circumstances.

Get started

Let’s discuss your tax preparation needs.

Whether you’re preparing returns for a privately held business, coordinating business and personal filings, or managing the tax obligations of a trust or estate, Bailes & Co. is ready to discuss your needs — the returns involved, the records needed, and how our experienced professionals can help.

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

Bailes & Co., P.C. — serving clients throughout Texas since 1991, from offices in Tyler and Addison.

Reviewed by Ryan Bailes · Last reviewed October 22, 2026