Small Business

Our tax preparation services include:
• Preparation of individual and business tax returns for federal, state and local taxing authorities.
• Electronic filing of tax returns
• Representation with tax authorities, as needed
• Prepare communications in response to taxing authority's notice
• Calculate estimated payments, as needed
• Tax planning

 

Starting, Operating, or Closing a Business

Starting a Business
Starting a business could be exciting.  If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more.

Operating a Business
This section contains information you need to operate your business.   Learn about operating a business with employees, business expenses and tax credits, filing and paying taxes, recordkeeping, and choosing an accounting method.

Closing a Business
There is more involved in closing your business than just locking the doors. This section provides procedures for getting out of business, including what forms to file and how to handle additional revenue received or expenses you may incur.

Closing a Business Video
Watch the video presentation, or read the transcript, for more information about Closing a Business.

 

Employment Taxes

Federal Income Tax and Social Security and Medicare Taxes

You generally must withhold federal income tax from your employees' wages. You withhold part of Social Security and Medicare taxes from your employees' wages and you pay a matching amount yourself. To figure how much to withhold from each wage payment, use the employee's Form W-4 and the methods described in Publication 15, Employer's Tax Guide and Publication 15-A, Employer's Supplemental Tax Guide (PDF).

Federal Unemployment (FUTA) Tax

You report and pay FUTA tax separately from Federal Income tax, and Social Security and Medicare taxes. You pay FUTA tax only from your own funds. Employees do not pay this tax or have it withheld from their pay. Refer to Publication 15, Employer's Tax Guide and Publication 15-A, Employer's Supplemental Tax Guide (PDF) for more information on FUTA tax.

Self-Employment Tax

Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most wage earners.