Woonsocket Tax Services

Services

Personal and Small Business Tax and Financial Services.

Areas of Expertise

 

Tax Preparation

WTS is a complete tax preparation service provider for your personal or small business needs.  Our qualified staff will prepare and file your taxes with the appropriate taxing authorities.  All returns that meet the criteria for IRS e-file are automatically transmitted for fast and secure return processing.  Some of the tax preparation services we offer are:

  • Preparation of Federal and State personal income tax returns including forms 1040, 1040A, 1040EZ and Sole Proprietor returns
  • Preparation of Federal and State Business income tax returns including corporation, partnership, and non-profit returns for an array of businesses
  • Preparation of monthly or quarterly Sales and Use tax returns for our retail clients
  • Preparation of payroll tax returns
  • Preparation of annual W-2s and 1099s
  • Support of all necessary tax forms and schedules
  • All tax questions answered throughout the year
  • Dispute resolution with taxing authorities
  • Preparation of estimated tax payments for personal and business clients


Bookkeeping

We can provide any level of service that fits your requirements including monthly, quarterly, semi-annual, and year-end.  Send us all of your key documents and we will take care of the rest.  Our bookkeeping services are scalable and include any combination of the following options:

  • Bookkeeping of all deposits and expenses
  • Bank reconciliation
  • Financial reports
  • Bill payment
  • Invoicing and billing services
  • Preparation of monthly or quarterly Sales and Use tax returns for our retail clients
  • Preparation of monthly or quarterly and annual payroll tax returns
  • Support of all necessary forms and schedules
  • All questions answered throughout the year

small business startup consulting

We are fully prepared to help you take the next step in becoming your own boss.  We will help you determine what type of business entity is right for your business and personal financial situation and assist in the protection of your personal and business assets.  We can also help with any situations that may arise along the way, such as:

  • What Federal and State agencies do you have to register with?
  • Different types of business entities and their financial implications (we always recommend that you seek legal counsel to ensure you completely understand all legal implications of business entity selection)
  • Explanation of manual vs. computerized bookkeeping systems and services
  • Employees vs. sub-contractors
  • Workers compensation insurance requirements
  • Federal tax identification number
  • State registrations with all appropriate sales and use tax permits


Payroll services

Paying your employees entails more than just handing out paychecks.  As an employer, you have numerous obligations that include: proper deductions and taxes, changes in tax law, and providing proper year-end documentation to employees.  WTS offers payroll services that remove the hassles and allow you to focus on your business.

We can provide any level of support you require, including:

  • Generating paychecks and pay stubs on a weekly or bi-weekly basis
  • Reviewing payroll records on a monthly basis to calculate required monthly payroll tax deposits to Federal and State agencies
  • Provide quarterly payroll tax reporting to federal and state taxing authorites
  • Provide year-end reconciliation and reporting including employee W-2s