Before you begin, please make sure you have already formed your business, received your EIN and your state Articles of Incorporation. This information will be needed when you submit your DSA Tax & Bookkeeping Application, please attach your Closing Statement for your route purchase and your corporation documents. Whether you are signing up through your bakery manufacturer for settlement deductions or paying via credit card, once registered you will have access to our Client Area.
You will receive in the mail or email, forms 2553 and 2848. Form 2553 is filed to make an election under section 1362(a) to be an S corporation, electing special tax election to save you money in taxes. Forms 2848 will provide DSA direct support when dealing with the IRS. We will also handle important state registrations and help you file associated annual reports to keep your business in good standing with your state.
Please note this is where you will record your monthly income (deposits) and expenses (broken down easily into categories catered to the route distribution business). Please do not assume we receive any information from your bakery manufacturer. Remember you are the owner of your business, your personal and confidential bank statements should be kept safe, with your receipts. All we ask is you simply complete the Monthly Report. Be sure to include your business formation fee on your first Monthly Report. We will calculate your route amortization (depreciation) expense and loan interest expenses.
You should submit your first Monthly Report within one month after Closing on your business. Submitting online makes it easier because the website can do the calculating for you!
Monitoring the health of you business, will help determine quarterly guidance related to payroll and income tax estimated payments. The IRS requires a reasonable salary be paid to yourself from your business. In turn, payroll tax payments are mandatory and to be paid accordingly following our guidance.
Estimated income tax payments may be recommended depending on your business income. These quarterly payments can help avoid interest and significantly help your year end tax obligation.
Your personal accountant will send you monthly financials, showing the health of your business. We will help determine mandatory quarterly tax liabilities. This will help alleviate a year-end tax burden now that you are running a business. Please note your personal tax credits, deductions and other incomes can also affect your tax refund. But don’t worry, we prepare both your business and personal tax returns, for both Federal and State. You can always email or call your accountant with any questions you have.
DSA will prepare both your personal and business tax returns each year. Federal and state schedules and returns will also be included. You can be assured that DSA’s targeted distributor strategies for tracking income and expenses ensure maximum deductions and savings for you.
Your personal accountant will send you monthly financials, showing the health of your business. We will help determine mandatory quarterly tax liabilities. This will help alleviate a year-end tax burden now that you are running a business. Please note your personal tax credits, deductions and other incomes can also affect your tax refund. But don’t worry, we prepare both your business and personal tax returns, for both Federal and State. You can always email or call your accountant with any questions you have.
DSA Tax & Bookkeeping is designed to provide a very high level of accounting support. A DSA accountant is assigned to each new client to ensure personal service. Your DSA accountant will review your startup materials, making sure you are comfortable with these valuable recordkeeping tools. Beyond the exchange of monthly financial information and preparation of all required tax filings, your DSA accountant will be available to answer your tax and accounting questions throughout the year.
DSA offers full business formation services. Your DSA accountant can provide you with information about the advantages of this business model. Click here to learn more about our business formation services. To speak to someone, please call (800) 896-1213.
