IProfessional Makes Taxes Easy for Independent Professionals:
- Automatically deducts all payroll withholding taxes
- Automatically deducts government mandated unemployment and disability insurances
- Automatically deducts Workers’ Compensation insurance
- Sends you a W-2 to submit to the IRS at year’s end
Deductions are made from your payroll and directly submitted to state and federal government agencies.
No Minimum Corporate Taxes
As an extra bonus, IProfessional picks up the cost of most state minimum corporate taxes. These minimum company taxes are paid at year’s end to many states basically for the right to do business within the state (also called business franchise taxes). Depending on where you work this feature can save you hundreds, even thousands of dollars a year.
* excludes Oregon, Michigan, Washington and Texas
File as a W-2
With IProfessional you no longer have to file as a 1099, Sub-Chapter S Corporation (S-Corp), Limited Liability Corporation (LLC), Limited Liability Partnership (LLP), make quarterly withholding tax payments, or fill out corporate tax returns and government required business activity surveys.