Tax expertise for small businesses with big goals

What Taxes do Small Businesses Pay in Rancho Cucamonga CA Area

For almost seven decades, Whyte & Associates, Inc. has supported the financial health and viability of small businesses in Rancho Cucamonga and across the Inland Empire. Small business is a big deal in California, with nearly all businesses (99.8%) in the state boasting zero to 499 employees. 

As proud small business owners ourselves, we appreciate that, just because your staff size may not be among the “giants,” you have big goals. We also intimately understand what taxes to pay and do not leave your business vulnerable to costly compliance and legal risks that can set your organization back. 

Ideally, our accountants and tax professionals will work with you from the get-go. We want to be in lockstep with your organization from the start. The more we know about your business, industry, and team, the better we can understand your tax liabilities and opportunities to reduce them, as specifics depend on factors such as how you incorporate and your business structure. 

Generally, businesses will be responsible for the following types of taxes: 

  • Business income 
  • Self-employment (akin to social security or Medicare taxes for individuals who are classified as “self-employed”)
  • Employment for those businesses who employ other people, spanning social security, Medicare, federal income tax withholding, and unemployment (FUTA)
  • Excise tax for specific types of businesses, i.e., those businesses that operate a “heavy” vehicle, such as a semitrailer or trailer, on highways (as a “use” tax)
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We also want to get a jump on tax season well before everyone starts buzzing about impending deadlines. As successful businesses, taxes should never be a “one and done” event, phase, or season. You need to have time on your side to get a successful result. Notably, we can get a sound tax management system in place for your team. With such systems in place, there are no surprises after the holidays. You never have to worry about “running short” or feeling overwhelmed. Since we know you and your industry so well, we can secure any credits, deductions, and other opportunities to reduce that tax bill. With the keen and considerable expertise of our accounting and tax professionals on your side, the risks of triggering a dreaded audit are minimized. In the event that you need us to represent your business before the Internal Revenue Service, we are uniquely qualified to do so at every administrative level as federally authorized Enrolled Agents.  

We look forward to speaking with you. Call (909) 575-0080 to reach one of our friendly and skilled professionals at Whyte & Associates, Inc. in Rancho Cucamonga, CA, today.

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