Business Taxes: 1120, 1120S, 1065
-Income Tax
-Estimated Taxes
-Employment Taxes
Self-Employed Individuals: SCHEDULE C
1099 + P&L
PERSONAL TAX RETURNS:
W-2
W-2 from employer
1099
1099 from employer + P&L
Self-employment tax
15.3% from Self-Employment income
Child Tax Credit (CTC)
Earned Income Tax Credit (EITC)
PAYROLL
– Weekly, bi-weekly or monthly payroll processing
– Preparation of W-2s and W-3s
FORMS 1099
– Preparation of 1099s
SALES TAX FILING
CASH BALANCE TRUCKING
FINANCIAL STATEMENTS
ACCOUNTS RECEIVABLE & PAYABLE
LIMITED LIABILITY COMPANY (LLC)
– C Corporation
C corporation is a separate legal entity, so its owners or shareholders have no personal liability for the company’s obligations. The corporation is taxed on its income, and shareholders also must pay taxes on any dividends or income they receive.
– S Corporation
S corporation is a separate legal entity, but it differs in that while shareholders are taxed on income they receive from the company, the corporation itself is not taxed. However, a company must meet strict legal requirements to qualify as an S corporation. Both C and S corporations offer good asset protection.
– Partnership
Members report income and deductions related to the business on their individual tax returns
– Sole-Member
Disregarded as an entity separate from its owner.
CORPORATION (Inc, Corp ..)
– C Corporation
– S Corporation
PARTNERSHIP
QUICKBOOKS:
Setup, Bookkeeping, Training, Audit
-Online, Desktop
EXCELL:
Monthly, Quarterly, Half Yearly, Annually
-Bank statements
BUSINESS TAX RETURNS
Business Taxes: 1120, 1120S, 1065
-Income Tax
-Estimated Taxes
-Employment Taxes
Self-Employed Individuals: SCHEDULE C
– 1099 + P&L
PERSONAL TAX RETURNS
W-2
– W-2 from employer
1099
– 1099 from employer + P&L
Self-employment tax
15.3% from Self-Employment income
Child Tax Credit (CTC)
Earned Income Tax Credit (EITC)