Registering Your Business For Federal Taxes: What to Do First

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When you start a business, the first thing that you need to do is to register it with the state and the federal government for tax purposes. To make sure that all of your information is accurate and complete, it is best to work with a team of experienced business attorneys in Chicago IL. Anthony J. Madonia & Associates is ready to help you handle all of the necessary legal steps.

Business Tax Registration

IRS Filing

It is wise to check with the Internal Revenue Service so that you uncover the operating procedures that are associated with employees, deductions, credits, and accounting methods. You must register with the IRS to receive an Employee ID Number.

Federal Taxes

If your company has employees, you will need to register with the IRS so that you can make payroll tax payments.

Filing with the State

If your business is anything but a sole proprietorship, you will need to register as a business entity in Illinois. You can visit the state’s Security of State website or consult with your lawyer. Since the process is different for each state, a qualified attorney will be able to make sure that everything is done properly.

Why it is Best to Work with an Experienced Attorney

If you are starting a new business, you have dozens of things on your mind. You may be too busy to deal with taxes and other legal issues. It is best to work with a solid team of business attorneys in Chicago IL so that you avoid costly fines and penalties. Also, it will save time. You will have no roadblocks that prevent your business from getting off of the ground.

At Anthony J. Madonia & Associates, we will help you to complete and file all necessary documentation, especially for tax purposes. We will offer assistance while you get started and while you grow your business. For more information, speak with a member of our team today. Call us at (312) 578-9300.