Taxes

Filing taxes and keeping up with due dates can be very frustrating and confusing. It is strongly recommended that you seek an accountant's help when dealing with your business tax obligations. If any returns are neglected or filed improperly then it could result in fines and penalties or excess payments.

Even so, you should still be familiar with the types of taxes you will be required to pay to the state by owning a business in Michigan and federal taxes.

Some taxes you might incure include:

Employer Identification Number
Self-Employment Taxes
Personal Income Taxes
State Business Taxes
Sales, Use and Withholding Taxes
Single Business Tax
Motor Fuel Taxes
Local Taxes

The Business Owner's Toolkit www.toolkit.cch.com offers information to help control your taxes and plan them into your budget.

There are sites dedicated to:

Payroll Tax Obligations

Federal Income Tax Obligations

Sales Tax Obligations

State Tax Obligations

Accountants are nearly essential for small business owners, but there are convenient calculators you can use to configure various aspects of your taxes.

Tax Due Dates can be found on michigan.gov website under the department of treasury.

Michigan New Hire Program allows you to report your new hires to the State of Michigan as required by regulation.

Click the Basic Record Keeping for Small Businesses tab in the right hand column to continue your research.