• Address: 222 Industrial Blvd, Naples, FL 34104 (map)
• Date Posted: 10/01/09

One of the biggest challenges facing people who are starting their own small business is understanding and meeting the tax filing requirements. It can be an overwhelming experience to learn about federal tax responsibilies and to avoid common pitfalls.

The following is a list of the basic tips offered by the IRS to avoid potential problems:
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Classify workers properly as employees or independent contractors as determined by law, not the choice of the worker or business owner;
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Deposit federal employment taxes, called trust fund taxes, according to the appropriate schedule;
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Start making estimated quarterly payments to cover your own income tax and social security self-employment tax liability;
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Keep good records to protect your personal and financial investment and to make tax filing easier;
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Consider a tax professional to help you with Schedule C;
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File and pay your taxes electronically; it's fast, easy, and secure;
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Protect financial and tax records to ensure business continuity in the event of a disaster.
Starting a buisness, let us help!

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you...
1.
Prepare an initial business plan to clarify your marketing, management, and financial plans.
2.
Determine your start-up capital needs.
3.
Identify sources of start-up capital and backup sources if needed.
4.
Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
5.
Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
6.
Select the right accounting software by evaluating your budget, needs and hardware.
7.
Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
8.
Establish billing and collection procedures to maximize your cash flow.
9.
Establish procedures to monitor and control costs.
10.
Setup a home office so you can maximize your tax deductions.
11.
Prepare and file all required state and local licenses and permits.
12.
Prepare and file your application for your Federal Employer Identification Number.
13.
Provide how to payroll and payroll tax filing when you bring on your first employee.
14.
Comply with employment laws so you don't get hit with fines and unhappy employees.
15.
Identify your business insurance needs.
16. Develop a solid Corporate Filing (S-Corp), Partnership Agreement.or LLC Articles of Organisation. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.
Let us help you succeed by getting your new business off to a good strong start.
Starting at $ 399- Includes $ 75.00 Florida Corp filing fee for S-Corp

LLC's - $ 449.00- Includes $ 125.00 Florida LLC Fee

Call us Today!!!!!

Service Business Solutions PLLC