Info For Corporate and Business Clients
We offer a wide range of accounting services for your business. We understand the unique challenges that face businesses on Long Island. No matter what level of service you would like, from check writing and bill pay services to year end tax planning strategies, we're here to help you. Our qualified and highly trained staff are committed to providing quality service all year for you, not just during tax season.
Corporate Entities
Sole proprietors interested in incorporating can call our office and we can help you select the entity best suited for your needs. We'll help you find the entity that will protect you from liability and minimize taxes. Click HERE to learn about the differences between C-Corps and S-Corps.
Insurances
Please note: New York State is becoming increasingly more diligent in reviewing corporate accounts with payroll to see if they have all the proper insurances, such as workers comp and disability. They are assessing unrealistic and unfair penalties to clients who are not required to have insurances before even checking to see if the companies need them. For example, a $40,000 penalty for non-compliance for not having worker's comp insurance on a company that was not required to carry worker's comp. Please call our office to make sure you are in compliance or if you have any questions.
New in 2009 for the 2008 Filings:
Returns or extensions with payment of the annual filing fee are due on March 16, 2009. Whether you file your return or you file an extension, your annual fee is due to be paid by March 16, 2009.
New York State is requiring all Corporations, Partnerships and Trusts to be electronically filed and electronically paid directly out of your corporate bank account. You may 'opt-out' of this, but we feel it is easier to elect to do this, as it will minimize the inconvenience of sending returns certified mail, as well as the possibility of a penalty if you forget to mail it or your return is lost in the mail. We encourage you to take advantage of this faster and more convenient method.
New Corporate Fee Structure. The annual filing fee due March 16th, 2009 is no longer based on payroll or gross assets, but based on gross revenue. Click HERE to view the fee structure.
Partnership and Trust returns are due April 15, but you may choose to go on extension. The extensions are no longer 6 month extensions, they are 5 month extensions, so Partnership and Trust returns that are on extension are due September 15 this year.