Small businesses can benefit from numerous tax deductions including office expenses, travel costs, vehicle expenses, employee benefits, and home office deductions. The exact deductions available depend on your business structure and location. We recommend keeping detailed records of all business expenses throughout the year.

Some commonly overlooked deductions include startup costs, professional development expenses, and retirement plan contributions. Our tax specialists can help identify all eligible deductions for your specific situation.

Quarterly estimated tax payments are typically due on:

• April 15 (for income earned January 1 - March 31)
• June 15 (for income earned April 1 - May 31)
• September 15 (for income earned June 1 - August 31)
• January 15 of the following year (for income earned September 1 - December 31)

If these dates fall on a weekend or holiday, the deadline moves to the next business day. We recommend setting calendar reminders for these important dates.

LLCs (Limited Liability Companies) and Corporations are both business structures that provide liability protection, but they differ in several key ways:

• Taxation: LLCs offer pass-through taxation by default, while Corporations are taxed as separate entities (with potential double taxation for C-Corps).
• Ownership: Corporations issue stock and have shareholders, while LLCs have members with ownership percentages.
• Management: Corporations require a board of directors and officers, while LLCs can be member-managed or manager-managed with fewer formal requirements.
• Paperwork: Corporations typically have more ongoing compliance requirements than LLCs.

The best choice depends on your business goals, growth plans, and tax situation. Our business formation specialists can help you evaluate which structure makes the most sense for your needs.

Processing times vary depending on the state and type of business entity:

• Online filings: Typically processed within 3-10 business days in most states
• Mail filings: Can take 2-4 weeks for processing
• Expedited service: Available in most states for an additional fee (often 24-48 hour processing)

After state approval, you'll need to complete additional steps like obtaining an EIN from the IRS, setting up business banking, and registering for state/local taxes. Our team can handle all these steps for you to ensure everything is completed correctly and efficiently.

Every business with employees should have these fundamental policies in place:

• At-will employment statement (where permitted by state law)
• Anti-discrimination and harassment policies compliant with federal and state laws
• Wage and hour policies including overtime, breaks, and pay schedules
• Leave policies (sick leave, vacation, FMLA, etc.)
• Code of conduct and disciplinary procedures
• Safety policies (especially for industries with physical risks)
• Technology and data use policies
• Remote work policies (if applicable)

We offer customized employee handbook creation services to ensure your policies comply with all relevant laws while reflecting your company culture.

Minimum wage requirements vary by jurisdiction:

• Federal minimum wage: $7.25 per hour (as of 2023)
• State minimum wages: Many states have higher minimum wages ranging from $8.75 to $16.50 per hour
• Local minimum wages: Some cities and counties have even higher requirements
• Tipped employees: Different minimums apply for workers who receive tips

It's crucial to comply with the highest applicable wage (federal, state, or local). We provide up-to-date wage law compliance services to help you navigate these complex requirements.