Updated
Pass-Through Elections & Business Assets
Evaluate the pass-through election
Rhode Island permits eligible pass-through entities to elect entity-level tax, with related owner credits. Compare the entity and owner effects before making the election. We review ownership, state income, prior filings, and payments so the return package supports the amounts reported by each owner. Rhode Island pass-through entity guidance.
Choose the appropriate entity filing
The Division of Taxation lists filing requirements by entity type. Confirm the business's legal structure and federal tax treatment, together with its Rhode Island activity, before selecting a return. Maintain a record of account registrations, notices, and payments to resolve discrepancies during preparation. Rhode Island business filing requirements.
Keep municipal assets in the close process
Providence provides an annual tangible-property return for business assets. For a business with property in Providence or another municipality, identify the correct assessor and local requirements. Reconcile additions, disposals, and asset locations so the municipal schedule can be checked against the books. Providence tangible-property return.
How we scope the work
We start with the decision or filing you need to complete, the entities and people involved, and the deadline. After reviewing the available records, we identify missing information and propose the services and deliverables. For ongoing work, we establish a close and filing calendar so bookkeeping, tax projections, and owner reporting use consistent information.
For an audit or other assurance request, bring the lender, grant, board, or regulatory requirement. We confirm the engagement type and applicable professional requirements before accepting the work.
CPA services for Rhode Island clients
Tax preparation
Coordinate business and owner returns using reconciled income, allocations, and payment records.
Tax planning
Compare entity elections, transaction timing, and owner consequences before making a decision.
Financial reporting & cash flow
Connect the monthly close, forecasts, and financing needs to clear management reports.
Audit & assurance
Review the intended financial-statement user, required engagement, records, and deadline to define the appropriate scope.
Rhode Island CPA questions
Should municipal property records match federal depreciation?
They should reconcile to a common asset inventory, but the reporting rules and values may differ. We preserve the original cost, location, and disposal details needed to explain those differences.
How do Rhode Island clients work with KAS?
We provide virtual service through secure document exchange, scheduled video meetings, and electronic signatures. The engagement defines the services, responsibilities, and deadlines; this service area does not represent a walk-in office.