Operating a business often means dealing with a myriad of taxes. Depending on the business structure, income taxes may be levied at the business level or at the individual owner level. Businesses may also face personal property taxes, which are taxes levied on property and equipment. If a business has employees, payroll taxes must be addressed. If a business has no employees, self employment taxes should be calculated. Sales taxes may also be required to be collected by businesses. The list could continue with personal holding company taxes, unemployment taxes and so on.
As can be seen, a business that does not have a strong handle on its tax situation may quickly find itself heading down the wrong path. At Nazelrod & Associates, our CPAs and tax professionals can help you manage your tax situation to keep you heading in the right direction.
Gene Nazelrod, Jason Nazelrod, and Kira Nazelrod Brucker are licensed CPAs in the state of Maryland.