When starting a business, it’s essential to address key financial, legal, and tax-related considerations. We can assist in
many aspects of getting a new business set up including:

Determining your business structure: Decide whether your business will operate as a sole proprietorship, partnership, LLC, S-corporation, or C-corporation.

Choosing a tax year: Select a calendar or fiscal year for tax reporting purposes.

Establishing your entity in your state: Register your business and comply with state-specific requirements.

Applying for an Employer Identification Number (EIN): Obtain an EIN from the IRS for tax filings and payroll.

Deciding on employees or subcontractors: Determine whether you will hire employees, work with subcontractors, or both, and comply with related tax obligations.

Assessing sales and use tax requirements: Identify whether your business is responsible for collecting and remitting sales and use taxes.

Understanding your business taxes: Determine the types of taxes your business is subject to, such as income, payroll, or excise taxes.

Freelancers and small business owners can take advantage of various tax deductions to lower their taxable income. Key deductions include:

• Home Office Deduction: If you use part of your home exclusively for business, you can deduct a portion of your rent or mortgage, utilities, property taxes, and mortgage interest based on the square footage of your home office.
• Office Equipment and Supplies: Expenses for computers, furniture, office supplies, and other necessary equipment used for business purposes can be deducted.
• Business Travel Expenses: Costs related to business travel, such as transportation, lodging, and meals, may qualify as deductions.
• Other Business Expenses: This includes professional services, advertising, software subscriptions, and any other costs directly related to operating your business.

Proper documentation and receipts are essential to substantiate these deductions, so keep accurate records throughout the year. Consulting a tax professional can also help ensure you maximize your deductions while staying compliant with tax regulations.

Ciampi Tax offers tailored consultations to meet the specific needs of your business. After you schedule a discovery call or submit a contact form, our business team will follow up with you to review your information and gather additional details, such as:

• Your industry and business entity type.
• The status of your current tax filings.
• Specific services you need, with an opportunity to uncover further requirements.

During the consultation, we’ll outline what services we can provide, set clear expectations, and discuss what’s needed, including letters of engagement and any upfront fees. For more detailed inquiries, we can provide a Proposal for Services that breaks down the services and an estimate of fees.
For more information, please refer to the businesses page on our website, which includes a complete list of offerings and descriptions. Our goal is to provide clarity and guidance tailored to your business needs.