Wells Income Tax

Description

When you form a small business, you have many options. For starters, you can set up your business as a Sole Proprietorship, C-Corporation, S-Corporation, LLP (Limited Liability Partnership) or an LLC (Limited Liability Company). How can you narrow down these possibilities? You may want to decide against a C-Corporation, because C-Corps generate two levels of federal income tax. The C-corporation pays one level of tax when it files its federal corporate tax return, Form 1120. A second layer of tax is imposed when the C-Corporation’s profits are distributed to the shareholders as dividends. Those dividends are reported and taxed on the individual’s federal tax return, Form 1040. Together, these two levels of taxes are referred to as “double taxation.” In addition, state taxes also typically apply to both C-corporation profits and distributed dividends. All in all, the tax picture for C-corps is far from ideal for small businesses. Even the reduced tax rate on dividends in the 2003 Tax Act does not completely do away with the disadvantages of double taxation. Becoming a sole-proprietor eliminates the double taxation curse.

Wells Income Tax , a division of Wells Realty And Management, Inc was established in 1996 to provide efficient and expert tax solutions to small businesses and individuals. Glenn O. Wells, EA is the owner/operator and has 20+ years experience in tax preparation. He was working as an entrepreneur in another field when a friend of his suggested he pursue tax preparation . We also employs additional tax specialists in the office to assist clients with their tax needs.

Once we solve your tax and accounting needs, optimizing your payroll needs is the next logical step towards simplifying your business life. We provide a comprehensive payroll service customized for your specific needs giving you flexible, personalized service from our knowledgeable staff. Our service includes electronic tax payments and filings all in complete compliance. You will receive all the payroll reports, as well as personalized, professional advice on all payroll matters you need to run your business efficiently.

Avoid last minute tax preparations and penalties when you request the services of an online tax specialist from Wells Income Tax , the year-round tax service in Miami, Florida . With our 20+ years of experience, we provide professional, outstanding, accurate, and 100% automated services for: Unlike other tax specialists that only offer seasonal services, we are open year-round and offer you extended hours during the tax season. We maintain all client files for future use, even if you move out of the area, you never need to worry about losing your records. Try our online income tax preparation service for free. It's quick, secure and accurate, click the "Prepare Online Now" below to begin.

We?? appreciate your interest in our company and look forward to working with you. For specific information about any of our services, please fill out the form below. Be sure to indicate your callback preferences, as well as the service you are interested in. A confirmation will appear after you click "Submit." We will get back to you as soon as possible.

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