Tag Archives: Small Business Audit
Are you never quite sure what original information to save after you file your annual tax return? In this article, we discuss what business tax documents you must keep and how long to keep them. Good bookkeeping is difficult to manage for many businesses. Let’s face it—your priority is to keep the business running from day to day. It might not seem like it but now, as you prepare to file your business taxes for 2011, is actually the perfect time to develop good record keeping habits. Keeping organized records throughout the year is vital to making sure you have … Click to Read More
When your new employee fills out a W-4, it affects their withholdings for Federal Income Tax, Social Security, and Medicare. What does it mean for the business owner? Businesses are required by the IRS to withhold taxes from employee wages, and then pay them directly to the IRS. This usually occurs on a quarterly basis in March, June, September, and December. This type of tax is called a Payroll Tax. In some instances, the IRS allows a business to file payroll taxes annually instead of quarterly. Payment can be made electronically or in person at an authorized financial institution. The IRS … Click to Read More
As you close out your finances for 2011, you or your business may need help understanding how to file and settle your IRS taxes. Filing incorrect information can be problematic. Errors may can mean that you are missing out on deductions, that you have paid too little (and can be hit by penalties, fines, or interest later in the year), or even that your company could be selected for an audit. At BusinessTaxPreparation.com, we have the experience to provide business tax services that will maximize your business deductions and ensure that your tax filing is accurate. While we recommend hiring a tax professional, here are some tax planning tips … Click to Read More