Are your working on your business or in your business? Working on your business is the smartest thing you can do! You didn't go into business to become a bookkeeper or a payroll manager. No! You went into business to do what you know how best to do - your service, craft or trade.
Timely, efficient bookkeeping services are a must for businesses of all sizes and are required by IRS if you are audited.
We manage all of your bank, credit card, and lines of credit (LOC) accounts. All transactions are entered and reviewed. We then produce a
These Financial Statement preparations for small business clients is a long-standing service of this firm.
Depending on the client's needs, monthly, quarterly, and year-end financial statements are prepared and analyzed on a timely basis.
The state-of-the-art accounting software used in our office can provide helpful comparisons and calculations for effective, practical business analysis.
We support the following software:
Daily, Weekly, Bi-Weekly, Semi-Monthly, or Monthly payroll services for small businesses up to 100 employees.
Services include:
Set up and maintenance of all employee/employer records;
► W-4 ► Photo Identification
► I-9 ►Social Security Card
► State New Hire Reports
Withholdings of payroll tax, child support, garnishments, and benefit contributions,
Timely Electronic payment of withheld payroll taxes,
Electronic Filing of Federal and State Quarterly tax returns,
► Form 941: Employer’s Quarterly Federal Tax Return
► Form RT-6: Employer's Quarterly Unemployment Tax Return
Issuance of Direct Deposits for employees
Preparation of all W-2's and 1099 forms.
Preparation of Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax Return
Types of Tax Returns:
For the Sole Proprietors: File their business income and expenses on their personal tax return on:
For the C-Corporation: File their business income and expenses, along with a Balance Sheet on:
For the S-Corporation: File their business income and expenses, along with a Balance Sheet on:
For the Partnership: File their business income and expenses, along with a Balance Sheet on:
Small business tax return preparation and filing instructions is a core service that we offer our clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor, a properly prepared tax return can be filed to minimize the tax owed. Over the years, we have prepared 1000's of small business Federal and State tax returns for service-based businesses, home-based businesses, manufacturing companies, insurance companiues, retail stores, and restaurants.
A core specialty of GTL Management, Inc. is the preparation of tax returns for individual taxpayers. Over the years literally 1000's of Federal and State returns have been prepared and filed by our company.
Listing of Documents That May Be Necessary for You to File:
Basic Information:
Legal Names, Address, City, State, Zip
Copies of Drivers Licenses and Social Security Cards for taxpayers and all Dependents Claimed
Filing Status: Single, Head of Household, Married Filing Together or Married Filing Separately
Forms:
(W-2) Wage Earnings;
(W-2c) Corrected Form W-2;
(W-2 G) Certain Gambling Earnings;
(W-2P) Annuity or Pension Income;
(1099-R) for Retirement Benefits;
(1099-INT) for Interest Earned;
(1099-DIV) for Dividends Earned;
1099-SSA) for Social Security Benefits;
(1099-G) Unemployment Income;
(1099-MISC) For Miscellaneous Income;
(1099-NEC) For Non-Employee Compensation
(1098) Mortgage Statement
(1098-T) Tuition Statement + List of Expenses related to College Attendance: Books, Computers, Paper, Ink, Supplies.
Itemized Deductions:
Medical:
Property Taxes:
Contributions:
This one is easy to set up! Many businesses start off as a sole proprietor until they reach a certain amount of income, then decide to incorporate.
1. Choose a name for your business.
a. If you use a name other than your given name, you will have to go to your State Division of Corporations to register for a Fictitious Name. You should also advertise this Fictitious Name in a local newspaper.
b. If you use your given name, you do not have to register a Fictitious Name.
2. You do not have to register for an Employers Identification Number. IF you plan on hiring employees', then you should register for this number with the Internal Revenue Service.
3. If your office is in the county, you should only need to register your "Business Tax Receipt" (formally known as an "Occupational License") at the county level. However, if you live within a city limit, you need to go to the city license department first, then to the county license department.
4. Open your bank account and request that your statements be processed on a calendar month. You will need your photo ID and most likely your Social Security Card to open your account, plus cash or checks to fund your account.. Your banker should be able to look up your Fictitious Name registration on the State's website.
5.
407-402-3840 gtlmgmt51@outlook.com
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