Tax Plan

TAX PLAN

TYPE OF ENTITY

We are are legally an LLC, but are classified as a Partnership by the IRS.
Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832

FORMS OWED ANNUALLY TO IRS

We are are legally an LLC, but are classified as a Partnership by the IRS.
Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832

FORMS OWED ANNUALLY TO INVESTORS

We are are legally an LLC, but are classified as a Partnership by the IRS.
Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832

ESTIMATED TAX PAYMENTS

We are are legally an LLC, but are classified as a Partnership by the IRS.
Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832

EMPLOYMENT TAXES

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

 

  • Social security and Medicare taxes
  • Federal income tax withholding
  • Federal unemployment (FUTA) tax

For additional information, refer to Employment Taxes for Small Businesses.

TAXES ON PROFIT

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

 

  • Social security and Medicare taxes
  • Federal income tax withholding
  • Federal unemployment (FUTA) tax

For additional information, refer to Employment Taxes for Small Businesses.

DEPRECIATION

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

 

  • Social security and Medicare taxes
  • Federal income tax withholding
  • Federal unemployment (FUTA) tax

For additional information, refer to Employment Taxes for Small Businesses.

COMMON MISTAKES

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

 

  • Social security and Medicare taxes
  • Federal income tax withholding
  • Federal unemployment (FUTA) tax

For additional information, refer to Employment Taxes for Small Businesses.

DEDUCTIONS

When you have employees, you as the employer have certain employment tax responsibilities that you must pay and forms you must file. Employment taxes include the following:

 

  • Social security and Medicare taxes
  • Federal income tax withholding
  • Federal unemployment (FUTA) tax

For additional information, refer to Employment Taxes for Small Businesses.