Accounting and bookkeeping services
Accounting and bookkeeping services
Federal compliance: follow IRS small business guidance for EIN, federal income tax filing, payroll forms (941 quarterly, 940 unemployment), self-employment tax, 1099-MISC/NEC reporting, and record keeping.
Use DOL for wage/hour and employer obligations. State compliance: businesses must register with their state, file annual reports, and comply with state income/franchise taxes and sales tax remittance where nexus exists.
Deadlines and rates vary—see Tax Foundation and state Dept. of Revenue sites. Practical bookkeeping guidance: separate business/personal accounts, choose accounting method and software, set up a chart of accounts, reconcile monthly, maintain a filing system for receipts and tax docs, retain records 3–7 years, and prepare for tax season throughout the year.
Payroll & contractors: register for state employer accounts, withhold and remit payroll taxes, file required federal and state forms each period; issue 1099-NEC for contractors when thresholds met. Outsourcing vs in-house: factors include transaction volume, complexity, budget, and need for advisory services.
Pricing models: hourly, monthly packages, or per-transaction. Consider a CPA for tax planning and audits.
Federal compliance: follow IRS small business guidance for EIN, federal income tax filing, payroll forms (941 quarterly, 940 unemployment), self-employment tax, 1099-MISC/NEC reporting, and record keeping.
Use DOL for wage/hour and employer obligations. State compliance: businesses must register with their state, file annual reports, and comply with state income/franchise taxes and sales tax remittance where nexus exists.
Deadlines and rates vary—see Tax Foundation and state Dept. of Revenue sites. Practical bookkeeping guidance: separate business/personal accounts, choose accounting method and software, set up a chart of accounts, reconcile monthly, maintain a filing system for receipts and tax docs, retain records 3–7 years, and prepare for tax season throughout the year.
Payroll & contractors: register for state employer accounts, withhold and remit payroll taxes, file required federal and state forms each period; issue 1099-NEC for contractors when thresholds met. Outsourcing vs in-house: factors include transaction volume, complexity, budget, and need for advisory services.
Pricing models: hourly, monthly packages, or per-transaction. Consider a CPA for tax planning and audits.
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