At Motor City Tax Pros, our professionals have more than 30 years of experience serving individuals and businesses. We offer tax preparation services for small businesses that are timely, accurate, and economical. Keep your profits high and your taxes low when we prepare your business's tax returns! If you do not know how to file taxes for a small business, you have come to the right place. Continue reading to learn our four steps for filing taxes for a small business, and give us a call if you have any questions!
How to File Taxes for a Small Business
Motor City Tax Pros
Hire the Right Accountant
When it comes to filing taxes for your small business, hiring the right accountant for the job is a very crucial step. A small business accountant should not just file your taxes, and wait till the next tax season to connect with you. Your small business accountant should be in contact with you throughout the year, tracking purchases and income. This is very important for your business’s success.
Keep Proper Records
It is essential to keep thorough records of your business’s financials throughout the year. Keeping thorough records will ensure that your tax returns are correct, and it will prevent any future issues down the road. If your tax returns are not accurate, your company could experience an audit, and that is something you will want to avoid. Basic accounting software can help track your records.
Correctly Classify Your Business
Correctly classifying your business might sound like a minor step, but it actually can create many issues if not done correctly. When businesses do not correctly classify their company, that usually results in overpaying taxes. To avoid doing this, you must consult with your trusted accountant to make sure that the classification is done correctly.
Use Motor City Tax Pros’ E-Filing
Using Motor City Tax Pros e-filing process will make filing your company’s taxes as easy as possible. Our e-filing system works faster than the traditional paper filing system and gets you results faster than before. Make filing taxes for your business easier and stress-free.
Are you in the Detroit area and are searching for a new tax firm for your small business? Work with the Motor City Tax Pros this tax season, and see how we can help you with your business’s taxes. Contact our firm today for more information on how to get started with us!