Complete Tax Solutions for Your Small Business: Preparation, Strategy, Advice, and Protection All Year Long
As a business owner, you’re paying taxes twice—once on your corporation’s profits and again on your personal dividends. We help you save thousands by restructuring and reclassification. Discover how to pay yourself a salary without the double tax burden.
Leave the daily bookkeeping to us, so you can concentrate on what matters most – growing and running your business.
Expert services for taxes, bookkeeping, payroll, and entity formation, all in one place to streamline your business needs.
Accurate transactions and reconciled accounts provide real-time insights, helping you make informed decisions and maximize tax savings.
Several factors determine that amount, including revenue and how the business is structured. Small businesses pay an estimated average federal tax rate of 19.8%. The estimated average for S corporations is 26.9%, the sole proprietorship average is 13.3%, and the partnership average is 23.6%.
While it may seem like S corporations pay more in taxes, they usually pay less than sole proprietorships or partnerships with similar income levels because they are more profitable.
In most instances, you will have to file business taxes even if there’s no income to report. If your business is no longer active and you aren’t planning to reactivate it in the future, we suggest you consider dissolving your company.
If you don’t file business taxes, there will be consequences from the IRS. Some of the potential consequences include levies and liens, fees and penalties, and criminal charges for the most egregious violations. The IRS will typically send a warning notice before implementing punitive actions.
Schedule a consultation today to discuss your business’s financial needs and discover how we can maximize your tax savings.
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