While there are many reasons that lead to those with an entrepreneurial spirit to want to open their own business, the process can be a bit intimidating. With strong planning, consistent record keeping, and quality services, many businesses find great success. If you are new to owning a business, or are just looking to find tax information for small businesses to make your process go smoothly this coming tax season, King Financial Services can help you. Listed below are some basic tax tips to help get you started:
Identifying Your Business Entity: One of the first major decisions you will need to make when opening a new business is selecting the type of business you wish to operate as. What this means is choosing between a sole proprietorship, a partnership, a corporation, an S corporation, or otherwise. How you choose to operate your business will play a major factor in the taxes for the business and the business owner, when filing their taxes.
Stay On Top Of Bookkeeping: While we understand no one gets into business so they can focus on the busy work of record keeping- it is absolutely necessary to keep your records organized and updated, in order to run a successful business. Working with King Financial Services can help individuals looking to free their schedule so they can focus on the things that really matter, like growing their business. We offer affordable payroll and bookkeeping services. Contact us today to learn more about how we can help your company thrive.
Keep Track of Taxes: A common pitfall you will want to avoid as a new business owner, is neglecting to prepare yourself for the taxes that come at the end of the year. We understand that you may be used to having your taxes held out of your check but as a business owner, you will be responsible for planning and budgeting as needed for your taxes.
Deductions: It is important to keep track of all important documents that may help you get tax breaks. Depending on the type of business you operate, the potential for tax deductions can save you thousands of dollars each tax season. Instead of missing out on potential savings, contact King’s Financial Services today. We will help get you on track and ensure you are never paying more than your have to.
Taxes are something business owners should be planning for year round. Do not wait until the last minute to start budgeting and preparing yourself for filing this season. Instead, reach out to the team of financial experts at King Financial Services. We help individuals and businesses file their taxes accurately and without complication. Contact us to learn more about how we can help you save money this tax season.
Business Tax Professionals in Texas
Sandra King is an enrolled agent, empowered by The United States Treasury to prepare your personal or business tax filing. While her services are offered nationwide, Sandra King locally serves the greater Dallas-Fort Worth area, including but not limited to Arlington, Bedford, Colleyville, Euless, Fort Worth, Grand Prairie, Hurst, Mansfield, North Richland Hills, and Richland Hills.