We at DAS Financials, reduce all your pain for Payroll & Taxes.
Most business owners probably already use some form of accounting assistance, whether it’s a bookkeeper or software, but even with support, paying employees can be challenging. Those who plan on doing their own payroll and want to avoid payroll mistakes must thoroughly understand employer payroll taxes. We file various payroll taxes:
As the pay periods go by and tax money is withheld from employees’ paychecks (in addition to employer contributions), businesses may eventually have to file quarterly tax returns with federal, state and local governments. The deadline for filing IRS Form 941, Employer’s Quarterly Federal Tax Return is usually the last day of the month following the end of a quarter. So, if the first quarter of the year ends March 31, then the first Form 941 would be due April 30. Payments can be made via the Electronic Federal Tax Payment System® (EFTPS).
After the year is over, employers typically need to issue Forms W-2 to employees and Forms 1099-MISC to independent contractors. They might also have to file three additional forms:
Reports the total W-2 earnings from all employees to the Social Security Administration
Its a summary and transmittal form that accompanies other IRS forms
Is used for filing employer taxes annually instead of quarterly
With all of the numbers to juggle, calculating employer payroll taxes can quickly become complicated. That’s why many businesses hire a dedicated payroll administrator or work with a payroll service provider, who can automate the process and save time.
Many individuals and businesses believe that preparing your own tax returns may save money, however, the opposite is a common result. Without proper knowledge or experience, valuable credits and money-saving deductions can be missed. As a result, this can reduce your annual tax bill and provide a significant return since tax laws are always changing.
Being that we are always aware of the ever-changing tax laws, we offer multiple options for accounting and tax preparation processes. Those include:
We offer business tax services and prepare tax returns for all types of businesses including corporations, sole proprietors, limited liability companies, and partnerships.
We prepare trust and estate tax returns for both Federal and State if needed.
We prepare individual income tax returns, and with our proficiency, we make sure you benefit from all the credits and deductions available.
Organizations such as churches, charities and trade associations also need tax preparations, in which we can offer our services.
Each sale, admission charge, storage, or rental is taxable, unless the transaction is exempt. We are available to assist with all the sales tax issues that may come your way.