Business Deductions

TAXES.
TAXES ARE ONE OF THOSE THINGS THAT ALMOST EVERY ENTREPRENERUR HATES DEALING WITH.
THE AMOUNT THAT YOU OR YOUR BUSINESS WILL PAY IN ANNUAL TEXES DEPENDS ON SEVERAL FACTORS: THE LEGAL FOEM OF YOUR BUSINESS, HOW MUCH MONEY IT MADE DURING THE YEAR, WHAT YOUR EXPENSES WERE, HOW SHARO YOUR ACCOUNRANT IS, AND HOW MUCH YOU PERSONALLY KNOW ABOUT TAX SYSTEM.
WHAT YOU NEED TO KNOW.
BUSINESS TAX DEDUCTIONS CATEGORIES - Please double check with your account.
-RENT HOME OR OFFICE   -EMPLOYEE SALERIES & OTER COMPENSATION -UTILITIES  -ADVERTISING-
-AUTO EXPENSES-TRAVELL -ENTERTAINING – INCLUDING DINING -PROFESSIONAL FEES -BUSINESS LICENSES, PERMIT FEES, AND MEMBERSHIP DUES      -BUSINESS SUPPLIES & EQUIPMENT
-ACCOUNTANT & ATTORNEY FEES               -EDUCATIONAL EXPENSES must be related to business
-REPAIRS        -BAD DEBTS: Deductible if the business sells goods instead of providing services  
-INTEREST ON BUSINESS PURCHASES         -MOVING EXPENSES
-SOFT  -CHARITABLE CONTRIBUTIONS          -TAXES               -FINANCIAL INSTITUTIONAL
- EXPENSES             -PARKING FEES & PUBLIC TRANSPORTATION COSTS  
-PUBLICATIONS RELATED TO BUSINESS         -CASUALTY & THEFT LOSSES   -POSTAGE OTHERS........
-PROFESSIONAL ASSOCIATION FEES,             - BUSINESS GIFTS,                - BANK CHARGES
-MAGAZINE & BOOKS,                                   - LOSSES DUE TO THEFT,
-COMMISIONS PAID                                       - WEBSITE DEVELOPMENT,
-PARKING & TOLLS                                         - SEMINARE                           -BUS FAIR

EMPLOYEE TAXES
EMPLOYEE  AND TAXES GO HAND & HAND. WHEN HIRED YOUR EMPLYEE NEEDS TO FILL OUT A FEDERAL 
W-4 FORM AND IMMIGRATION  AND NATURALIZATION  SERVIVE FORM I-9. AS YOUR EMPLOYEES ARE PAID YOU WILL NEED  TO FILL OUT A FEDERAL W-4 FORM AND IMMIGRATION & NATURALIZATION  SERVICE FORM I-9.
AS YOU PAY YOUT EMPLOYEES YOU NEED TO DEDUCT A VATIETY OF TAXES FROM THEIR PAYCHECK:
SOCIAL SECURITY (FICA) MUST BE WITHHELD FROM EACH EMPLYEE YOU PAY. YOU MATCH THE AMOUNT WITHHELD AND PAY IT TO THE FEDERAL GOVERNMENT.
MEDICARE: MUST BE WITHHELD . YOU NEEDTO MATCH THIS AMOUNT.
UNEMPLOTMMEN TAX: YOU NEED TO WITHOLD, MATCH, AND PAY THIS AMOUNT.
UNEMPLOYMENT TAX: YOU NEED TO WITHOLD,MATCH, AND PAY THIS TAX
STATE INCOME TAXES: THESE TAXES ARE WITHHELD
W'2's AND 199: WEATHER YOU ARE AN INDEPENDENT  CONTRAXTOR, OR A BUSINESS WITH WMPLOYEES AND  HIRE CONTRACTORS, 1099 and W-2'S  ARE PART OF YOUR LIFE.
BUSINESSES AND HIRE CONTRACTORS. CHECK OUT GREATLAND.COM-THE LEADER OF 1099 AND W-2 REPORTING
 

 


 

 

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