Accounting
and Tax Services
(top)
Accounting
is a set of rules used to determine when and how income
and expenses are incurred and reported. You choose an
accounting method for your business when you start your
business. You are required to choose a method of accounting,
when file your first business income tax return.
You
may use the same accounting method to figure your income
and expenses for accounting and tax purposes.
Business
owners often have great responsibilities while operating
and managing a business. Before you become an employer
and hire employees, you need a Federal Employer Identification
Number (EIN). If you have employees, you are responsible
for several federal, state, and local taxes. As an employer,
you must withhold Federal Income Tax, Social Security
and Medicare taxes, and Federal Unemployment Tax Act
(FUTA).
As
an employer, you are also responsible for timely depositing
and withholding federal & state income, your matching
share of social security and Medicare taxes from your
employees' wages and any Federal Unemployment Tax Act
(FUTA) taxes.
As
a new business owner, you need to know you federal and
state tax responsibilities. In addition to knowing about
the federal and state taxes, you need to make some basic
business decisions.
Employer
Identification Number (EIN) is used to identify the
tax account of employers, certain sole proprietor, corporations,
partnerships, estates, trusts, and other entities. If
you don’t have an EIN, you need to get one.
We
can help our client for the following services in the
State of Wisconsin only: