NEW BUSINESS CONSULTING

Are you working in the business plan of your new business?
Have you considered which expenses are tax deductible? Which ones are not? Do you know about depreciation or company assets?  Owner’s Salary and Payroll takes? TAXokay, we can help you. We are experts on new Business, and we will guide you through the planning and execution of your plan.

It is important for you to know your federal tax responsibilities. Here are the aspects that we can guide you to start your business.

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- Determine the Type of Business Entity. Early on, you will need to decide the type of business you are going to establish. The most common types are sole proprietorship, partnership, corporation, S corporation and Limited Liability Company. Choosing one or other entity will depend on your needs and the tax liability impact

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-  Federal Taxes. The type of business you run usually determines the type of taxes you pay. The four general types of business taxes are Income Tax, Payroll Tax, Self-employment and Excise tax. We can help you with all the IRS tax filings.

 

- Employer Identification Number (EIN). Most companies must apply for an EIN, which is required to file taxes and open a bank account. We can help you with this process.

 

- Estimated Taxes. Federal taxes are pay-as-you-go. This means that you need to pay most of your tax during the year, rather than paying at the end of the year. You can incur penalties and interest if you fail to make the required estimated tax payment. We can help you to calculate the estimated payment amount.

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