Small Business Tax Client FAQs
Do you offer E-File?
Yes! Our e-file service is included FREE on all eligible tax returns.
Do you have a physical office location?
We currently offer virtual services only.
How long should you keep tax records?
You should keep your tax records and receipts for at least five years. This includes proof of charitable donations made by your business, logs for mileage claims, contracts with vendors, and details on business equipment purchases.
Can you help me avoid a large tax bill at the end of the year?
Yes! Schedule a consultation with us and we can determine what your options are.
What do new business clients need to do to get started?
We recommend that you have be prepared to upload or enter your:
- Business formation documents (i.e., the EIN letter, state letters or selling licenses, operating agreement, etc.)
- Profit and Loss Statement
- Balance Sheet
- Tax related documents organized
- Email address that you check frequently create a portal account by clicking the link here, and follow the steps in the portal.
Is my information secure?
Yes! The security of your personal information is vital to our operation. We stay current on industry trends regarding data security, we follow the guidance of the IRS regarding data security, and we limit access to all information.
Why is your tax service different?
MITS is different from other tax preparation services for small businesses because we:
- Understand the struggles of operating a small business, so we partner with our small business clients by understanding their goals for their business in the short & long term and offer suggestions for success;
- Offer year-road service – our clients can book time that is convenient for them;
- Stay up-to date on the latest tax and accounting changes that can be a benefit to small businesses, and
- We look for tax savings deductions to ensure that each small business owner maximizes their money.
Can you prepare my balance sheet or profit and loss statement for?
Yes! We offer bookkeeping services. We have many options from DIY to full-service.
When is the deadline to file taxes?
The annual deadline depends on the type of business structure you have. For instance, Partnerships and S-Corp businesses have a filing deadline of March 15. Other business entities can typically file by April 15. This is the same for federal & state returns. There have been years when the date is moved due to tax law changes.
How do I write off purchases on my taxes?
It starts with being organized, using a bank account designated for the business or a credit card, and understanding what is allowed. We can provide guidance based on your unique situation during a consultation.