Kirk J. Swanson CPA loves helping business clients in the Minneapolis, MN area with all types of taxes. This includes payroll, property, income, excise, and many others.
Did you know that payroll taxes are the largest culprit for receiving threatening letters from the IRS? Many businesses employ bookkeepers who either fail to realize the importance of complying with payroll tax requirements or simply do not understand the laws. This is a very common experience, unfortunately.
The IRS publishes something titled “Circular E”, which in the accounting profession is known as the payroll bible. Failure to abide by these detailed and sometimes confusing rules and regulations results in IRS notices.
Being in compliance with payroll taxes means maintaining efficient employee payroll records, preparing appropriate and accurate tax returns, attaching supplemental documents, and signing the forms. It also involves paying taxes in the manner designated by the governmental agency. If you pay taxes via a check and the government states it has to be done electronically, you will face a penalty. A professional tax preparer makes certain this does not happen.
Payroll taxes include workman's compensation, labor and industries, social security, Medicare, and Medicaid. We know the current rates and make certain that proper deductions are taken.
We also handle income taxes. This can include corporations, LLCs, partnerships, and/or sole proprietorships. We know how to lower tax bills for everyone and provide valuable guidance for all business owners.
Turn to us for help with other taxes including sales and excise, real and personal property, capital gains, and others that only a trained expert can assist with.
Kirk J. Swanson CPA loves helping Minneapolis, MN area businesses with local, state, and federal taxes of all kinds. Pick up the phone and call us today!