Tax Solutions
With Our CPA Network
Our Tax Preparation services help businesses and individuals complete tax filings with accuracy and affordability.
Get StartedStartup Services
For Growing Businesses
Business Startup Services
Our new business services are catered to your needs, with special consideration for upstarts and small business.
LLC Document Filing Service
Our Licensed and verified CPAs will carefully examine your financial standings and business assets, and prepare all of the nessessary tax documents. We stand behind the work we do In the event you are selected for an audit, we will represent you at NO ADDITIONAL FEE on any business income tax return we prepare.
BookKeeping & Quickbooks
We provide our online cloud based solution to managing your businesses tax and finance information. Our simple to use system puts all the tools you need in your hands. Plus, our experienced CPAs will review your information, and help ensure you're filing's are accurate.
Tax Correspondence Representation
Corresponding with the IRS can be difficult, time consuming, and frightening. Our business services package includes tax representation for your business. Our CPAs will handle of all the paperwork needed to keep you in good standings with the IRS.
Below is our basic checklist of things every new business should do in the following order before making your first sale.
1. You need to decide whether you will operate as a sole proprietorship or operate your business as an entity authorized by the state you do business in.
1800Accountant recommends all businesses form an entity separate and not operate as a sole proprietorship. Sole proprietorships subject the owner to possible personal liabilities in the event something unforseen occurs. 1800Accountant's CPA network can help you decide whether you should be an S Corporation, C Corporation, LLC or partnership. There are many reasons why one business would choose one entity over another. Making the wrong decision could cost you thousands in taxes. 1800Accountant has partnered with MyCorporation to help you make this decision easier.
2. You must choose a unique and legal name for your business.
It is possible that the name you want for your business has altready been used, and is no longer available in your state. You will need to perform a business name check to be sure you are not infringing on another compaines intellectual property. So choose three names and submit these names to our business filing partners at MyCorporation.com, or your appointed CPA.
3. You will need to obtain a Federal Taxpayer Identification Number
An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Similar in purpose to the Social Security Number assigned to individuals, EINs are used by employers, sole proprietors, corporations, partnerships, non-profit organizations, trusts and estates, government agencies, certain individuals and other business entities.
4. You will need to choose a bank and open a business checking account.
You will not be able to open an bank account without the state or local filing receipts when you formed your business entity. You will also need to show the bank your new Federal Taxpayer Identification Number.
5. Will your business have employees other than the owners of the business?
If the answer is "Yes", 1800Accountant can help you decide how you will comply with payroll reporting requirements. There are quarterly returns that must be filed with the IRS and many states also have quarterly filing requirements.
6. In many cases you are required to maintain various types of insurance for your business.
Most states have local state tax filing requirements. Many states require businesses to charge a sales tax and remit this money monthly. You will need to obtain a CERTIFICATE OF AUTHORITY to collect sales tax and other trust funds. Most states now require electronic remmitance of funds. 1800Accountant can help you set this up.
7. Determine whether your business is subject to sales tax or other local taxes.
Most states have local state tax filing requirements. Many states require businesses to charge a sales tax and remit this money monthly. You will need to obtain a CETFICATE OF AUTHORITY to collect sales tax and other trust funds. Most state now require electronic remittance of funds. 1800Accountant can help you set this up.
8. Obtain a computer and accounting software program.
Adequate accounting records is required by the Internal Revenue Services. Failure to keep adequate records could subject you to IRS and state penalties. Your computerized bookkeeping system will be used to generate reports needed in the preparation of your annual business tax returns. Your 1800Accountant Advisor team recommends you use Quickbooks for your business and can help you purchase and setup your accounting books and records in compliance with IRS Guidelines to minimize taxes. Quickbooks can be maintained on your computer or in a virtual cloud environment. 1800Accountant will help you make this decision.