If you are starting a new business, here are some of the services we can provide.
When a company decides how to create their business entity they need to consider the ease of formation, the ease of dissolving, how to handle the liabilities, the vision regarding the size and nature of your business, the level of control you wish to have, the need to re-invest earnings into the business, and the need for access to cash out of the business for yourself. There are many options such as: C-Corporations, S- Corporations, Limited Partnerships, Sole Proprietorships to name a few, and each has their own advantages and disadvantages. Discovering what is best will ultimately affect how you operate.
Stands for the “Electronic Federal Tax Payment System”. This is now a requirement for all remitting payroll taxes and also assists with electronic filing of payroll tax forms. Don’t bother with the postal service when it comes to reporting taxes. With the EFTPS system you can electronically file your monthly, quarterly and yearend tax efficiently and in a timely manner; another great way to avoid late fees.
Unemployment tax rates vary from state to state. FUTA stands for federal unemployment tax withholding and SUTA is for state unemployment tax withholding. What is your rate and do you have both? With our experienced accountants’ help we can make sure that your unemployment tax is reported properly.
EIN stands for “federal employer identification number”. Keep in mind that businesses and companies that hire employees must obtain federal employer identification number which is similar to a social security number. However, the EIN is used primarily for tax reporting and is needed for the opening of bank accounts.