Due to Security Concerns, we do not  respond to unsolicited emails nor do we open unsolicited attachments.  Please call our office for assistance




PO Box 2214       Oregon City OR 97045       503-656-0699 

 

Accounting and Tax Services
For Businesses

 

Checklist for Business Tax Preparation


Home Page

Your Personal Taxes

Tax News You Can Use

Our Newsletter

Itemized Deductions

Federal Tax Deduction Amounts

  Business Accounting & Taxes

Financial Services

About Our Staff

Map

 Comments on this website are informational in nature and are not intended to
be interpreted as specific tax advice.   The comments cannot be used to avoid taxes under the Internal Revenue Code or the regulations of other tax authorities. Furthermore, this website is not intended, and should not be interpreted, to support the promotion or marketing of any tax avoidance schemes.

 

Date last modified:
01/26/17
 

Our office offers a variety of services for businesses including regular monthly accounting and bookkeeping, initial set-up of  company books, applying for employer identification numbers, payroll calculations for 1-3 employees, completing quarterly employee tax reporting, preparation of W-2 and 1099 forms, and consultations. We use both Peachtree and Quick Books accounting software. We are especially well-suited for the business that needs a few hours of accounting each month but doesn't have the in-house expertise to do it with confidence or have the time to keep it up-to-date. We let the business owner focus on the task of building and operating a successful business!

There are several types of Business Entities and each has its own legal and tax return requirements. Some tax laws/rules are the same for corporations, partnerships, limited liability company, or sole proprietorships, while others are entity-specific. States and Local jurisdictions, such as counties and cities, may have their own regulations and taxes, as well. A person is a member of an LLC, a partner in a partnership and can be an officer, director, stockholder or employee of a corporation. 

A business entity must be chosen before beginning a business if more than one owner is to be involved.  Invest in consultations with both a lawyer and an accountant before choosing a business entity.  Be sure to ask questions so you fully understand your obligations and potential  liability.  Your choices are important and will make a difference!

If you are chosen for a tax audit, it is important to realize you may need to prove your expenses were necessary and customary for your business.  You may need to provide records that substantiate the business income you reported.  Be sure your records will stand up to scrutiny.

The following links provide a brief summary of the different types of business entities and other issues of interest to business owners.  Also, link to our favorite Business Tax Tips directed to entrepreneurs and business owners.

 

Business Tax Tips

Corporations

C-Corp
S-Corp

Partnership

Limited Liability Company

Sole Proprietorship

Employee or Independent Contractor?

Hobby or Business?