Income Tax
No matter how complex your tax situation is, our CPA and Enrolled Agents are here to assist you. With our years of experience, we can maximize your tax deduction, and bring you peace of mind. Unlike other firms in the industry, our motive is not to add bulky price tag to our services. Our objective is to provide guaranteed client satisfaction through one-to-one sessions. We offer the following services at a reasonable price:
-Personal Income Tax
-Business Tax Return (1120, 1120s, 1065)
-Tax Return for Charities and Non-Profits (990)
-IRS Audit Representation
Payroll
For any start-up small business, payroll can be overwhelming, expensive and time consuming. With a fraction of the cost, Tax Cliniq could be your next full-service payroll partner. At present, we are offering payroll services to small businesses which include:
– Covers up to 50 employees
– Run payroll weekly, bi-weekly, semi-monthly or Monthly
– Calculate Payroll taxes
– Transmit payroll tax deposits to appropriate authorities
– Direct Deposit or paper checks for employees
– Quarterly and Yearly Payroll Tax filing
– W2s for employees
Sales Tax
Sales tax is enforced on certain tangible personal property and services. This type of indirect tax is collected from the customer, and the seller or retailer is mandated by state law to transmit the amount to appropriate authorities by a specified deadline. State law regulates which products, services, and transactions are subject to sales tax. Without proper education and experience, it is very easy to mix up taxable with non-taxable sales.
Some retailers are in denial of how to properly deposit sales tax, and tend to forget that it is not their income. This is the reason why State authority is very stern about collecting sales tax, and any evasion in this specific area could lead to jailtime or a serious fine.
Accounting/Bookkeeping
Midsize and large companies are well organized; thus, record keeping occurs most efficiently. On the contrary, bookkeeping is a growing concern for small businesses. The majority of business owners ignore the importance of bookkeeping simply because they think that it is costly, they do not have time, or that it is complicated. Our company is extensively designed for small business owners to save cost, time, and complexity. Our experienced team members are here to assist you in every aspect of your bookkeeping and accounting needs. When you maintain financial books properly, you have strong leverage in the following areas:
Monitoring Company Progress
As a business owner, aren’t you curious to know how the financial health of your business is? Is your business generating profit, or is it running a loss? How is the cash flow? Without proper bookkeeping, it is simply impossible for any business owner to know the financial situation of the business.
Tax Return
No matter how small or big your company is, you are mandated to file your company tax returns. When a company maintains books and records, it is easy to track revenue, expenses, payables, receivables, and company assets. When information is available, estimated tax, Income Tax, and IRS Audits are fairly less complicated, and more satisfactory.
Business Funding/Loan
Financial Statements are mandatory for any business funding and loans. Lenders determine the risk factors of business on the basis of the borrower’s financial book and Tax record. Borrowers can produce a Financial Statement only with proper bookkeeping.
New Business Set Up
Different types of business structures have different tax implications. For Example – C Corporation is known for double taxation. S Corporation is a pass-through entity having a fair amount of tax advantage over C. LLC, on the other hand, is a pass-through taxation entity combined with Limited Liability of corporation. To determine which business structures serves you best, we offer a FREE CONSULTING before setting up your company.
Tax Planning
In our years of service, we have seen many small businesses paying more taxes due to the lack of tax planning. To offer extensive tax planning, our experts are available throughout the entire year.
QuickBooks Set Up
QuickBooks is best accounting software for small business. It is cost effective, easy to use, and above all you can choose the online or desktop version to suit your business need. Tax Cliniq offers FREE QuickBooks set up for each of its clients.