Tips To Follow Business Taxes and other required filing requirements!

If you are a sole proprietor or a partnership:

• You may need to file sales and use taxes if are engaged selling taxable product(s) or service(s).
• You may need to file Payroll Taxes if have employee(s).
• You may need to file local, state and federal estimated taxes based on your income.
• You are required to file business return(s) end of the year
• You may need to renew your license(s)
• You may need to renew your insurance(s)
• You may need to renew your permit(s)
• You may need to file excise tax
• Time to time during the year should prepare cash flow statements to control your receivables, payables and cash in hand. It is a very important element for any business to analyze the current cash flow position and see the strength of the company to run a successful business.

If you are incorporated: for instance; Corporation, LLC, LP, Professional Corporation, Professional LLC Etc.

• You may need to file sales and use taxes if are engaged selling taxable product(s) or service(s).
• You may need to file Payroll Taxes if applicable. Officer(s) and member(s) of the company may be exempted depends on the structure of the company.
• You may need to file local, state and federal estimated taxes based on your income.
• You are required to file business returns end of the year
• You are also required to file annual reports or other reports based on your state requirements to keep your company in good standing.
• You also may request to your state to provide a certificate of good standing or certificate of existence to see if your company is following state guidelines to file taxes.
• You may need to renew your license(s)
• You may need to renew your insurance(s)
• You may need to renew your permit(s)
• You may need to file excise tax
• You may need to distribute K-1 among your members or stockholders to file their personal income tax return(s)
• Time to time during the year should prepare cash flow statements to control your receivables, payables and cash in hand. It is a very important element for any business to analyze the current cash flow position and see the strength of the company to run a successful business.

To Read More : Tips To Follow Business Taxes and other required filing requirements!
Source : Business Documents Filing in 50 Stateshttp://www.infotaxsquare.com/sole-proprietorship.html

Check List To Start New Business and Tips to maintain successful business!

1. Choose the right structure for your business for instance; Sole proprietorship, Partnership, C-Corporation, S-Corporation, Limited Liability Company, Limited Partnership, Non-profit Organization, Professional Corporation, Professional Limited Liability Company or other legal entities and retain a professional if needed to assist you to explain the difference among different business structures as mentioned above.http://bit.ly/cYfl5F
2. Select the right name for your business to represent your product(s) or service(s) offering to your customershttp://bit.ly/a1Vl9Z
3. Check the company name availability with the state or county before applying to avoid delay in company registration or possible rejection due to non availability of name with the state of county. http://bit.ly/a1Vl9Z
4. Check with the state or county processing time to register your company. http://bit.ly/daJo8q
5. Do you need sales tax permit to collect sales tax from your customers? http://bit.ly/aPVeef
6. Do you need Employer Identification Number to hire employees or filing taxes? http://bit.ly/8ZTGLC
7. Do you need workers’ compensation insurance to hire employees? http://bit.ly/aFgzJT
8. Do you need disability insurance to hire employees? http://bit.ly/96JVi2
9. Do you need any insurance to safe-guard your assets for instance, Error and Omission or General Liability?http://bit.ly/cYfl5F
10. Do you need certificate of good standing or certificate of status of your legal entity to open bank account? http://bit.ly/9vfw0O
11. Do you need any other licenses or registrations before conducting business and avoid delaying starting up a business? http://bit.ly/cYfl5F
12. Do you need to file annual report, Biennial Statements, Statement of Information, initial report or franchise taxes to complete your business registration? http://bit.ly/b8Dw9m
13. Do you need to run legal notices to maintain legal status and to complete company registration of your entity? http://bit.ly/cg5lsw
14. Do you need an accountant to maintain your books and records and filing monthly quarterly and yearly taxes with appropriate departments? http://bit.ly/cfzvoI

Infotaxsquare Tips to maintain successful business

A new business can be a hassle to set up. Your business success depends on your focused attention. The following is a list for maintaining successful business:

1. Avoid mixing personal finances with your business finances.
2. Tax planning early in your company’s setup can save you hundreds of dollars later on.
3. Controlling your collection process will strengthen your cash flow which is critical to a new business.
4. Take advantage of new tax law changes as they happen.
5. Timely filing of payroll and sales tax reports to save your money
6. Timely file annual reports to maintain your company in good standing.
7. Select right accountant to give you timely advice and planning.

All the best!

To Read More : Check List To Start New Business and Tips to maintain successful business!

Source : Business Documents Filing in 50 States

State of Georgia -Annual Report Filing

State of Georgia-Each business entity registered or filed with the Office of Secretary of State Georgia is required to file an annual registration. The Annual Registration period is from January 1 through April 1. Renew by April 1 to avoid the late filing penalty fee.

Before proceeding, please confirm whether your entity’s registration is due for the current year. Fees paid for filing a registration are non-refundable. Entity registrations are due by April 1st of each year, but may be filed as early as January 1st.
Filing the annual registration provides a current record of an entity’s management structure, correct mailing address, and registered agent’s name and address. In addition, entities that do not timely file annual registrations, together with all required fees, may be subject to administrative dissolution or revocation of their authorization to transact business in this State.

The annual registration process is also the primary vehicle used to update entity accounts; therefore, multiple registrations may be filed during the year. In fact, an entity may update its information as many times as it wishes throughout the year simply by filing another registration and paying the applicable filing fee. However, it is important to note that multiple registrations filed [and fees paid] in any one year do not “rollover” to the next year. An entity must file an annual registration each year. Finally, it is extremely important that each entity verify its information prior to filing. Filing fees are non-refundable. Corrections can only be made by filing another annual registration. The Secretary of State does not have the statutory authority to rescind registration filings or refund fees once they have been submitted. Additionally, a person who signs a document he or she knows is false in any material respect with the intent that the document be delivered to the Secretary of State for filing shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine.

Annual Registration is required for A Corporation (Profit, Non-profit, Professional Corporation, Professional Association Annual Registration for a Limited Liability Company (LLC)

To read more! State of Georgia -Annual Report Filing Source: InfoTaxSquare Business Documents Filing In All Fifty States!