Ann Arbor CPA
Schultz & Associates, CPA, PLC can also be found in Ann Arbor.
5153 Plymouth Road
Ann Arbor Michigan, 48105
Tax and Accounting Firm Ann Arbor
Schultz & Associates, CPA are tax prepares near Ann Arbor Michigan. We are a top rank CPA firm. The CPA and tax preparation firm was established in June of 2003. The Firm is located at 496 W. Ann Arbor Trail. The building has its own parking lot for easy access in and out. The Firm is a member of the AICPA and MACPA.
Find out more about our staff.
Individual Tax Preparers in Ann Arbor Michigan
Basic Tax Returns
Schultz, CPA considers basic tax return prep to include Federal Form 1040, Schedule A, Schedule B and MI Form 1040. Often clients with a basic tax return will also have college tuition or daycare expenses. We are happy to sit down and help you with this type of income tax return preparation. Our fixed fee for this type of income tax return prep is $275.
Complex Tax Returns
Schultz, CPA works with business owners, real estate investors, the high net worth and net income, trust beneficiaries and stock investors. Individuals who fall into these categories tend to have complex tax returns and tax issues. We have processed thousands of returns that require tax expertise. When you speak with a staff member about your complex tax issue, you will find that they have worked previously with clientele who have certain issues as yours. The Schultz CPA staff typically does not have to reinvent the wheel when a client comes in with a new issue for themselves.
Technology and Web and Software Development Tax and Accounting Support
Ann Arbor is a technology leader. Accounting and tax issues for technology and web and software development is unique. Web based firms often have issues with multi-state income and sales tax. Depreciation for company developed software is unique as well. These industries also find that they have issues with R & D costs. Proper reporting of start-up costs can be complex as well. Accepting new and investors can be tricky and if not handled properly can create an unexpected tax burden. Our firm has experience with all of these issues and more.
9 Idea’s When Starting a New Technology Company
1. Write a Business Plan – There are individuals that do this for a living. But for a start up it is essential for the business owner to do this themselves. It can be a working document that only you see. But it will help to sort out your ideas. If you have a hard time writing about it then perhaps it is a bad idea.
2. Finding Money – Traditional banking may work, but if you have the right plan and idea there are certainly those that would be interested in funding your idea. Traditional banks often have a difficult time with technology companies. Banks like had assets to collateralize. They tend to like businesses that have a physical location. It is not impossible to find bank financing but it can be difficult.
3. Have a Support System – This support system obviously includes the big four: attorney, accountant, financial adviser and insurance agent. But lean on others. Bankers, family, local business owners, and those running a similar business can help you weed out the good and bad ideas. Also, make sure this group includes multiple age groups. Just because someone is young does not mean they cannot provide insight and value.
4. Select a Business Entity – Sole Proprietorship, C Corporation, S Corporation, or Partnership formation all have different legal and tax consequences. Some entity types are easy to establish and require little paperwork. Other entity types create great complexity.
5. Determine How the Business Will Be Taxed – The way your company is taxed will be directly impacted by the type of business entity you select. It is important to understand how you will and won’t be able to take money out of the business.
6. Get a Jump Start on Your Website – It can take 90 days in some circumstances for search engines to start indexing your site. That means the site should be up and running for 4 to 6 months prior to the grand opening.
7. Which Accounting Software is Best – While many small businesses use QuickBooks, it may not be right for you. Determine what needs to be tracked and decide whether a more integrated system may be necessary.
8. Register for Taxes – You will need to register your business with a State. Additionally, your business will need an IRS Federal ID number. Your business will need to be registered for business taxes in the state(s) it operates in. If you are retailing items that require the collection of sales tax then you will have to register for those taxes as well. If you intend to hire employees, then you will have to register with the state unemployment agency.
9. Hire a Payroll Service – Withholding taxes and remitting them to the proper taxing authority can be complex. Failure to remit taxes and to file the proper payroll tax reports on a timely basis can result in significant penalties. There are many deadlines for companies processing payroll. Leave this to the payroll professionals. Don’t be bogged down with payroll.
5153 Plymouth Road
Ann Arbor, MI 48105
Tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used for the purpose of (i) avoiding tax related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.