Quarterly Estimated Tax Payments can be a nightmare for business owners to determine how much they owe the IRS. Here is our guide for Frequently Asked Questions regarding Estimated Taxes. What are Estimated Taxes? Estimated Taxes are taxes that are paid to the IRS throughout the year on earnings that are not withheld from the federal government. Most people pay these taxes on a quarterly basis. Who pays estimated taxes?… Read More
Archives for February 2026
The W-2 Tax Season Scam Your Small Business Needs To Be Aware Of
With tax season firmly upon us, thoughts inevitably turn to W-2s, 1099s and looming deadlines. But what if there was a bigger threat than scrabbling to update records, locate documents and meet deadlines? What if your main concern was vigilance in the face of tax season scams? If you work with accountants in Miami, you might already be aware of the W-2 scam; if you aren’t, they almost certainly will… Read More
The Main Tax Consequences Of Converting To A C Corp From An LLC
Before making the decision to convert a business to a C Corp from an LLC, it’s important to recognize that there may be some serious tax consequences. The main consequence is that converting might involve gains or loss recognition at the point of conversion, potential exposure to double taxation, and the way in which basis and tax attributes are handled may be adjusted. As well as this, it’s essential that… Read More
A Small Businesses Guide To Franchise Taxes
Dealing with federal income taxes is all part of running a business, but there is another state-level tax that a lot of businesses must pay: franchise tax. Having nothing to do with owning a franchise, this tax must be paid by many businesses throughout the U.S. simply for operational rights within that state, or the right to even exist within it. Small businesses working with an experienced accounting firm in… Read More
How Should Business Owners Pay Themselves?
Despite the majority of businesses being started by someone wanting to make money, many of those business owners don’t actually know the best way to pay themselves. From fixed salary to owner’s draw, or a combination of them both, how you pay yourself as a business owner depends entirely on the way in which your company is structured, your tax strategy, and plans for growth. Make the wrong choice, however,… Read More