When starting a new business, the business entity determines the income tax return. There are sole proprietorships, partnerships, corporations, S corporations and LLCs or LLP. Mustafa Accounting can help you determine the best way to structure your business so you get the most of your money. If you are self-employed or an independent freelancer such as a designer or professional small business owner, we help you decide the best financial structure that’s best for you. The U.S. Small Business Administration has a wealth of information for your business but we provide the financial expertise you need to navigate the best route. When the taxes are due, we take care of your income taxes, self-employment taxes, estimated taxes, employer taxes, excise taxes that are due to the federal government.
Steps to assist your business structure
These are some of the steps we assist you in your business formation process:
Business Planning
Business Structuring
Accounting Software
Business Cashflow
Payroll
Business Billing and Collection
Business Licenses and EINs
Tax Deductions and Liabilities
Employment Laws for Financial Purposes
Business Licenses /Tax IDs/ EIN
When you are a small business, you must obtain a federal tax ID, also known as an EIN or Employer Identification Number from the IRS. Mustafa Accounting can help you file for this ID. This ID is needed by businesses with employees and also for corporations and partnerships. In addition to having an EIN, you will need state and federal licenses to run your business. We can help with getting the proper permits for your business.