Small Business Services

A) Gross Earnings

• Gross Earnings (Total Pay before deductions).
• Base Salary/Wages (The fixed amount or hourly rate an employee is paid).
• Overtime additional compensation, typically 1.5x the regular rate, for hours worked beyond standard limits.
• Supplemental pay such as bonuses, commissions, tips, and shift differentials.
• Allowances for housing, transportation, or remote-work expenses.
• Paid Time Off (PTO), including vacations, sick pay, and holidays.

B) Mandatory Deductions

• Social Security Taxes.
• Medicare Taxes.
• Federal Income Taxes.
• State/Local Income Taxes.
• Property Tax references for all 50 states where applicable.
• State personal income tax references where applicable.
• Local income taxes levied by local and/or county authorities where applicable.

C) Pre-Tax Deductions

• Health Insurance premiums.
• 401(k) contributions.
• Flexible Spending Accounts (FSAs).

D) Post-Tax Deductions

• Garnishments (court orders).
• Union dues.
• Charitable donations.
• Net Pay records.
• Final take-home pay tracking.

Employer Payroll Taxes

• Business-matched Social Security Taxes for employees.
• Business-matched Medicare Taxes for employees.
• Federal and State Unemployment taxes (FUTA/SUTA).

Employer Benefits Contributions

• Contributions for Health Insurance.
• 401(k) matching, Life, and Disability Insurance.

Workers’ Compensation

• Insurance premiums paid entirely by employers to cover workplace injuries.

• Form 941, 940, W2(s), 1099-MISC, 1099-NEC, W3, and related forms.
• Keep your employees’ payroll and deductions record.
• Upon your request, we mail W2(s), 1099-MISC, and 1099-NEC to your employees.

Also known as Income Statement, Profit & Loss is a financial report that summarizes a company’s revenues, costs, and expenses over a specific period. It determines if a business is making a profit or taking a loss.

A Profit and Loss statement is legally required for publicly traded companies and to accompany annual tax returns. For private small businesses, it is not always legally mandated, but it is routinely requested by lenders and investors.

• Tax Filing: Required when reporting annual business income to the IRS.
• Applying for Business Loans: Lenders require P&L statements to assess cash flow and repayment ability.
• Securing Investors: Investors require historical and projected P&Ls to evaluate business health and growth potential.
• Public Filings: U.S. public companies must file income statements with the SEC.

• Monthly or quarterly reviews help identify spending leaks and improve planning.
• Projected P&L statements are useful before launching a new product or service.