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Accounting, Payroll & Pension Issues/New S Corp Payroll Taxes
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Question
Hi, Mike. I have begun setup of a new property investment business and need to know if I am the owner and only employee, would I need to engage a service now, or in the future,to assist with payroll taxes or is this something I can do myself?
It is pretty easy. You should go to the IRS site (irs.gov) and download Circular E. It will explain it all to you. I do recommend you buy and hour or so of a CPA's time to get guidance on this as well as recordkeeping, estimated taxes, etc. It could save you a lot of money and headaches down the road.
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Questioner's Rating
| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you so much! Your advice saved me $849 today by not employing a service to handle what I can on my own. THANK YOU! | ||
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Answers by Expert:
Mike Wellman
Expertise
I can answer questions dealing with financial accounting, tax accounting, bookkeeping and payroll issues. NO PENSION questions.
Experience
Certified in 1980. Experience with Fortune 15 company in finacial accounting, manager at Price Waterhouse and then over 20 years with small business clients.
Education/Credentials
BBA - Baylor University.
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