1-800Accountant helps companies and individuals with their taxes, payroll, bookkeeping, and more. Our winning combination of modern technology and year-round support makes us a convenient, one-stop solution for your accounting needs, whatever industry you’re in. Taking into the fact your going to pay these guys $3,000 to begin with, I would say your better off hiring a CPA. In addition their bookkeeping software is never working and your tax expert can’t fix it so your stock waiting for their tech people to do that. It goes down once a month at least and it doesn’t work properly anyway.

However, an LLC can potentially elect to be taxed as an S-Corporation or a C-Corporation. This election does not change any of your corporate paperwork, rather how the entity is taxed instead. Each election type comes with its own benefits and limitations.

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We use dedicated people and clever technology to safeguard our platform. I wasn’t sure what to expect when I signed up for 1800 Accountants but knew I needed help because this was new territory for me. She’s been extremely responsive and patient with my many questions! She’s taught me the process while also helping me by completing the paperwork for filing.

We have had a great experience using Ryan P. from Accountant. He is a great, knowledgeable guy, and this being our first business has really walked us through the process. We feel safe that he will get us through this journey meeting all our deadlines and keeping us in good standing with our taxes. Generally self-employed individuals such as independent contractors, and LLCs are taxed as a sole proprietorship. Partners in a partnership are subject to self employment taxes if they have more than $400 in net profit during the calendar year.

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The deductibility of a business expense depends on the nature of the business. The IRS has stated that for a business expense to be deductible the expense has to be both ordinary and necessary. An ordinary expense is an expense that is common and accepted in your industry, while a necessary expense is an expense that is helpful and appropriate for your business. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.

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This is the most comprehensive plan, and adds bookkeeping, financial reports, and priority customer support to everything included in the other two plans. An Employer Identification Number is also known as a Federal Tax Identification Number, and is used to identify a business entity. You may apply for an EIN in various ways, and now you may apply online. There is a free service offered by the Internal Revenue Service and you can get your EIN immediately.

A sole proprietorship is the simplest type of business – this is a business owned directly by one individual. While a sole proprietorship is the simplest type of business to get started, the owner of a sole proprietorship is responsible for all of the liability. As someone who provides consulting 1800accountant number for dentists, most of my work is via appointments and email. VCita syncs my calendar, making it easy for people to schedule when I’m available. Our payout setup is quite complex and took up to 5 days each month to do. After we signed up for Tipalti, we’ve reduced that to 1 day.