On Site Services Now Offered
Patriot now offers on site services for monthly closings including bank reconciliations, accruals, and loan and credit card reconciliations. We will provide you with profit and loss statements, balance sheets, and customized reports on your computer system. We also specialize in cost accounting,special projects,tax filings including 1099′s, 941′s, W-2/W-3′s, corporate, partnership, and personal income taxes.
We have wide experience with Quickbooks Pro, Quickbooks Online, Quickbooks Enterprise, and high end systems such as Great Plains Dynamics with FRx reporting.
Our company policy is to meet any competitor’s price quote. We believe you should pay the most reasonable price that the market dictates.
Call Blaine at (978) 604-4253 for more information.
Our Services in A Nutshell
We provide superior economical service in the areas of bookkeeping, business and personal income tax returns, sales/use taxes, automatic tax payments, full payroll, accounting, and financial reporting of all types.
We have a broad bandwidth in that we can reconcile your accounts and provide full financial reporting including profit and loss statements, balance sheets, and cash flows. We can also provide budgeting, projections, and management reporting customized to your financial information needs that will aid you in decision making and help you increase profitability.
Our customers include retailers, software developers, health care providers, salons, staffing agencies, home remodelers, web developers, private equity managers IT outsourcers, hedge fund managers and traders, real estate brokers, SEO consultants,and, yes, even dog walkers.
Call Blaine at (978) 604-4253 or email us at patstax@gmail.com.
We provide high quality friendly services. We answer phone calls and emails on a real time basis.
We have economical standard rates that allow you to choose the services you need without being saddled with ones you don’t. Our rates average $150 per month for full services.
Filing Massachusetts Payroll Taxes
Your business has to be registered with the state to file and pay payroll taxes electronically. Returns you will have to file with the Department of Revenue include monthly or quarterly withholding taxes depending upon how much or little your liability is, new hire reporting, and quarterly wage reporting.
One must withhold 5.3% of salaries and wages payable on the 15th of any month that is not the end of a quarter if you are withholding $1,200 or more per year. You must report and pay weekly if you are withholding $25,000 or more per year. If you are withholding less than $1,200 the tax is reportable and payable the last business day of the quarter. If you are withholding less than $100 you may pay annually by January 31st of the following year.
If you have paid $1,500 in wages in any quarter you must file and pay online for state unemployment taxes to the Division of Unemployment Assistance one month after the end of every quarter. The contribution rates vary from 2.83% to 12.27% on the first $14,000 in wages paid per calendar year. The rates are dependent upon employer claims experience and how much the employer has paid into the fund. You are also required to pay into the Workforce Training fund at a rate of .06% on the first $14,000 of wages.
If you employ six or more people you will also be liable for the Massachusetts Unemployment Insurance fund contribution of .12% on wages under $14,000.
Fines for non compliance can be substantial. You may be fined over $1,000 in some cases for non filing of payroll tax returns.
Patriot Rax and Bookkeeping, Inc. can register you for taxes and file and pay your Massachusetts payroll taxes, excise, and sales/use taxes in a timely manner avoiding interest and penalties along with audit flags.