The Three Main Types of IRS Audits

IRS Audit Services in Rancho Cucamonga CA Area

Many people fear being audited by the IRS. Perhaps this is because they know that the IRS is a well-funded bureaucracy that is known for long and drawn-out audits. In other cases, they know someone who has been audited and have heard that it can be a complicated process to endure, even if the return was prepared correctly to begin with. At Whyte & Associates, Inc, we have the knowledge and expertise needed to support you with IRS audit services. The Three Main Types of IRS Audits There are different types of tax audits. The three main types are: The … Continue reading

How Businesses Are Taxed

Taxation of Business Entities in Rancho Cucamonga CA Area

As most of us know, filing taxes as an individual taxpayer can be challenging because of the myriad IRS rules and regulations. The challenges may increase if you operate a business, especially one that is incorporated. That is because companies are governed by a different set of IRS tax rules than those for individuals. The Principal Incorporated Business Structures Three types of corporate business structures exist: Limited liability corporations (LLCs), S-corporations, and C-corporations. Each of these has different rules that govern their taxation. These three incorporated entities for businesses are in addition to sole proprietorships, which are unincorporated businesses. How … Continue reading

The Nuts and Bolts of Business Incorporation

When Should You Incorporate Your Startup in Rancho Cucamonga CA Area

One component of the great American dream is to own your own business and make a good living from it. It’s the ultimate win-win: your customers and clients receive needed goods and services and generate a great livelihood for your family and employees if you have any. Many people start up their businesses as sole proprietors. Before long, the business is thriving. They understand that creating a business entity may be in their best interest. Types of Business Entities There are three primary types of incorporated businesses: The limited liability corporation (LLC), the S-Corp, and the C-Corp. Each of these … Continue reading

What Are the Benefits of Outsourcing Bookkeeping Services

Benefits of Outsourcing Bookkeeping in Rancho Cucamonga CA Area

Bookkeeping is integral to any business; no business can survive without it. Bookkeeping pays bills and employees, collects clients’ money, and gets new inventory. It is not like taxing that is done once a year – as a business owner, you must do bookkeeping daily. Many companies prefer to use outsourced bookkeeping services, which is actually a good idea. Here is a list of reasons why: Benefits of Outsourcing Bookkeeping in Rancho Cucamonga, California  If you operate your business in Rancho Cucamonga, California, or any other surrounding area in the Golden State, here are the benefits of using outsourcing bookkeeping: … Continue reading

When Does Your Company Need Business Consulting?

Benefits of Business Consulting in Rancho Cucamonga CA Area

Business consulting is a valuable tool companies can use to prosper and grow. According to recent statistics, companies hiring business consultants have a higher chance of succeeding. In this article, we are going to discuss the advantages of business consulting services that are worth considering for your company: Benefits of Business Consulting  If you operate a business in Rancho Cucamonga, California, or any other nearby areas, here are the benefits of using business consulting: Optimization of operating and service costs. Business consulting allows you to understand the company’s exact needs, analyze the situations your business is going through, and optimize … Continue reading

Tax Credits and Deductions for Small Businesses

Tax Management Services in Rancho Cucamonga CA Area

Large companies have accounting and tax departments on their staff, ensuring that the firm is not only in full compliance with the law but that they legally pay the least tax. Most small businesses do not have a tax department. Therefore, they may miss some of the many credits and deductions that are due to them. If you are a small business owner in Cucamonga, California, and looking for a tax management services company, get in touch with Whyte & Associates, Inc; we will provide you with the necessary information on tax management and credits. Tax Credits for Small Businesses … Continue reading

We Provide Incorporation Services for Startups

Incorporation for Startups in Ontario CA Area

Want to incorporate your new business venture? Business incorporation may sound intimidating, but this doesn’t have to be the case if you hire Whyte & Associates, Inc. We take the guesswork out of the complicated business formation process. While business incorporation involves filing paperwork, hiring a professional firm saves you time and gives you peace of mind, among other benefits. Why a startup needs to be incorporated You have launched your dream startup. You have gathered a skillful team, and now you feel ready to hit the market. But have you incorporated your business yet? Perhaps you feel like your … Continue reading

Facing a Financial Audit? Here is the Checklist to Get You Ready

Financial Audit Checklist in Ontario CA Area

Whether your end-year is months away or just around the corner, you always experience the familiar feeling of audit dread. However, audits don’t need to be your worst nightmare. Preparing ahead can make the audit less daunting, whether you are facing a tax or financial audit. Whyte & Associates, Inc. proudly helps clients in Rancho Cucamonga, California, with audit matters, and today we guide you on how to make your business audit ready. Financial audit checklist Financial auditing is a critical function that helps evaluate whether the financial records have been prepared according to the accounting standards. An audit identifies … Continue reading

Savvy End-Of-The-Year Tax Moves

Small Business Tax Preparation in Ontario CA Area

If you are like most people, the thought of paying taxes does not bring up warm and fuzzy feelings. Instead, you may have vague anxiety regarding all the paperwork that must be dealt with and the concern of potentially owing additional money to the federal and state tax authorities. One way to alleviate some of these concerns is by doing a little planning. When you plan, you may uncover opportunities to save on your tax bill. Consider utilizing a professional company like Whyte & Associates, Inc, for individual or small business tax preparation if you are in Rancho Cucamonga, California. … Continue reading

Lower Your Corporation’s Tax Burden

Tax Planning in Rancho Cucamonga CA Area

When preparing and filing business taxes, it is your right to pay the least amount that is legally owed. However, determining the least amount owed can be a difficult and tedious process. The tax codes are voluminous, and very few know all the items they cover. Some corporations prepare and file their taxes using internal resources. The majority, however, do not. Here at Whyte & Associates, Rancho Cucamonga, California, corporate strategies are done expertly. We would like to be your corporation’s go-to shop for tax preparation and filing. Corporate Tax: A Few of the Particulars You would be incorrect if … Continue reading