4 Taxes that Triangle Small Businesses Need to Possibly Address

Stuart Miles, freedigitalphotos.netOwning a small business is often exciting and allows for much freedom; until tax time comes around. Most new small business owners are confused about business taxes and what exactly needs to be filed. That’s why, AABS, INC., in Apex, North Carolina is a trusted name in helping local small businesses get their taxes right.

Let’s face it; taxes are confusing for almost every one of us. But, the folks at AABS are certified Enrolled Agents who are qualified to represent businesses with the IRS. Through ongoing training, the professionals at AABS are kept up-to-date on changing tax laws and tax forms. At AABS, your business tax filings and questions can be answered timely and accurately.

Triangle owners and management need to keep in mind the four taxes that may and can affect small business:

  • Income Tax: Most businesses are familiar with this pay-as-you-go tax. Employers have income tax withheld from their employee’s paychecks that are filed annually. If your company does not withhold taxes, please contact us to determine whether or not you need to do this.
  • Self-Employment Tax: This tax includes deductions for Social Security and Medicare from paychecks. There are special rules for aliens, state or local government employees, and other classifications. Let AABS check to make sure the correct withholdings are being deducted from your company.
  • Employment Taxes: Employers are responsible for several employment taxes. They include Federal income tax withholding, self-employment taxes, and Federal unemployment (FUTA) taxes.
  • Excise Tax: Depending on what your business does, there may be excise taxes involved. Certain products, equipment, and services need to file special forms for these taxes. At AABS, we can help with this.

Instead of wondering what business taxes need to be filed every year, give staff at AABS a call to assess the business and its tax situation. Our trusted Enrolled Agents will answer all questions about tax filing. We will prepare your taxes in a timely manner to avoid penalties, and we stand behind everything we do for every business.

Contact AABS for more information or to schedule an appointment.

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This is an “information only” post and is not considered to be legal or financial advice. It is simply meant to be helpful to all those who read it. It is brought to you by the professional team at AABS, INC., located in Apex, NC.

Call us at 919 303-3345 or email us at: info@aabsinc.com

Visit our website: www.aabsinc.com

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AABS Inc.

PO Box 1677

Apex, NC 27502

Photo Credit: Stuart Miles, freedigitalphotos.net

 

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