Some of the most common questions that are asked by small business owners but are not limited to, go as follows:
- What is the right business structure that suits me?
- What are the different entity structures and the difference between each of them?
- Are there any special licenses or permits that I need?
- When do I need to file my estimated tax payments and how much?
- What kind of deductions and credits is my business eligible for?
- How do I write off business assets?
- My wife is a partner in my firm; can we file as a Qualified Joint Venture?
- Can my 15-year-old son work in my company and be paid a salary?
- Can I take a home office deduction? How do I calculate it?
- What type of retirement plans can I offer to my employees?
- Which fringe benefits are taxable to me and which are not?
- Will I get audited? How the IRS audits small businesses?
And most importantly, I get asked the question- How do I lower my tax bill by taking every single legal deduction possible?
I work with all my clients on getting their penalties reduced or eliminated, interest charges removed and resolving tax issues and notices. I offer year-round planning for my small business clients and offer tips and strategies to help them.