Businesses have to handle their tax filing needs in addition to taking care of business on a regular basis. In Tarpon Springs, some businesses want to handle their finances internally, but a professional at BizBooks4U can take care of everything for you. With our help, you can focus on what matters and get the most financial benefit.

For businesses, there are different types of taxes you must pay, depending on the type of business you operate. In general, these include:

  • Income taxes. Any type of business, minus partnerships, must file yearly annual income tax returns. The form you will out depends on your business’s structure. A tax filing company in Tarpon Springs can help you with the pay-as-you-go federal income tax.
  • Estimated taxes. If you don’t withhold to pay income taxes, then estimated taxes are required unless you pay when you file your return. Most often though, you’ll pay taxes on income throughout the year.
  • Employment taxes. This is for employers with employees and covers social security, Medicare, federal income withholding, and federal unemployment taxes.
  • Self-employment taxes. This social security and Medicare tax is for those who employ themselves. It contributes to disability benefits, retirement benefits, and more. You’ll need to file a Schedule SE Form 1040.
  • Excise taxes. This covers the costs you must pay if you manufacture or sell a specific type of product, run a certain kind of business, use certain equipment, or perform certain services. For example, this could include the use of fuel or certain large rig vehicles on public roadways. A tax filing professional can help you determine if you need to file excise taxes.

Tax Filing Checklist for Small Businesses

Whether you plan to prepare your own return, or you seek out a professional for tax filing services in Tarpon Springs, you will need the following:

Income-Related Items

Income-related items or records may include:

  • Sales records
  • Business savings and checking account interest
  • Allowances and returns
  • Receipts from sales
  • Record of any other income

Expenses

Expenses are made up of employee wages, travel expenses, insurance, interest, rent, office supplies, professional fees (if you hire an accountant or an attorney, for example), depreciation, advertising, and technology.

If you have an in-home office in Tarpon Springs, your expenses may include mortgage or rent, utilities, improvements to the home for business use, and homeowner or renter’s insurance, amongst other things.

Other expenses may include office building repairs, estimated tax payments, health insurance, premiums paid, and employer-provided insurance.

Cost of Goods Sold or Services Rendered

This may include inventory, purchases, materials, supplies, and any other goods or items purchased for business purposes.

Trust the Professionals at BizBooks4U

Our experts will manage your books so that you can spend your valuable time managing your business. For professional tax filing services in Tarpon Springs, call BizBooks4U at (727) 939-1044 or contact us online.