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Our Services FAQ page is here to provide clarity about Our Services.

  • What the difference between an LLC and a corporation?
    There are many differences between an LLC and a corporation, both large and small. One of the most significant differences is the ownership structure. An LLC is owned by one or more individuals, while a corporation is owned by shareholders.
  • How much does it cost to incorporate a business?
    SmartCloud Tax offers our LLC formation service at no cost; however, your Washington State will charge a tax-deductible fee, which varies by license type. Our fees apply only to value-added business services, available at different price points based on your selected package.
  • What type of business entity should I start?
    We generally recommend forming an LLC due to its numerous advantages for small business entrepreneurs. After forming an LLC, you have 75 days to consider choosing a different business structure, such as an S corporation.
  • How long does it take to have my business registered with the state?
    Most states process business registrations within 14 business days, although this timeframe can vary based on their current workload. Once your filing has been submitted, your SmartCloud team will notify you through the message center with an update.
  • When will I receive my EIN Number?
    Once approval is received from the state, we apply for the EIN number, and we will deliver all of your documents in your SmartCloud Tax Client Portal. Approval is normally completed within 3 business days.
  • What are the next steps after I have my business paperwork?
    With the documents we provide you will be able to open a business bank account as long as you have the state correspondence, EIN letter and Operating Agreement (available as an add-on purchase). Please note that SmartCloud Tax & Accounting is not involved in licensing and permits associated with business registration. To continue with those it would be best to contact your state’s Secretary of State or ask your SmartCloud Team for more information.
  • How do I elect to be an S corp?
    We will supply you with a pre-filled IRS Form 2553, containing all your necessary details. Just print, sign, and send the form to the IRS to elect S corporation tax status.
  • How do I communicate with the team handling my formation/dissolution?
    Send messages to your team directly through the message center in your SmartCloud Tax Client Portal. This is your go-to place for all inquiries and communications.

Welcome to the Services FAQ page!

 

Here, we provide answers to common questions about our comprehensive range of services. Whether you need detailed tax planning, efficient bookkeeping, meticulous tax preparation, streamlined payroll solutions, or expert consulting, we’ve got you covered.

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1. What accounting and bookkeeping services does SmartCloud Tax offer?

SmartCloud provides full-service accounting and bookkeeping, including general ledger maintenance, bank reconciliation, financial statement preparation, and custom financial reports. Our services are designed to keep your finances organized and up-to-date, helping you make informed business decisions.

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2. How can SmartCloud help with tax planning?

Our tax planning services are aimed at reducing your tax liability and ensuring you take advantage of all applicable tax incentives. We work with you throughout the year, not just at tax time, to develop strategies that align with your financial goals.

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3. What does your tax preparation service include?

Our tax preparation services encompass all necessary filings for individuals and businesses. We ensure compliance with the latest tax laws and regulations, minimizing liabilities and maximizing potential refunds or credits.

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4. Can SmartCloud Tax manage payroll for my company?

Yes, our payroll services include setup, maintenance, and processing of your payroll, along with ensuring compliance with employment and taxation laws. We handle direct deposits, payroll tax filings, and year-end tax forms for your employees.

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5. What types of consulting does SmartCloud Tax provide?

SmartCloud Tax offers consulting services that range from financial forecasting and analysis to business valuation and strategy planning. Our expertise supports your business's growth and helps navigate complex financial landscapes.

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6. How do I get started with SmartCloud Tax?

Getting started is easy! Simply contact us through our website or give us a call to schedule an initial consultation. During this meeting, we'll discuss your needs and how our services can best support your goals.

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At SmartCloud Tax & Accounting, we are committed to providing high-quality, tailored financial services. If you have any more questions or need further assistance, our team is ready and eager to help.

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