East West Bancorp, Inc. · NASDAQ:EWBC
East West Bancorp — Investor Presentation (June 2016)
19 slides from East West Bancorp's investor presentation, June 2016
Slide 1: Tax Planning and Reporting for a Small Business
Tax Planning And Reporting FOR A SMALL BUSINESS
Slide 2: Welcome
Welcome 1. Agenda 2. Ground Rules 3. Introductions TAX PLANNING AND REPORTING ‹#›
Slide 3: Objectives
Objectives After completing this training, you will be able to: • Identify the federal, state, and local tax reporting requirements of a small business and its owner, and establish a plan to account and pay them. • Identify methods for researching the local, municipal, and county reporting/licensing
Slide 4: What Do You Know?
What Do You Know? What do you know or want to learn about tax planning and reporting? TAX PLANNING AND REPORTING ‹#›
Slide 5: Managing Your Tax Obligations
Managing Your Tax Obligations • Get informed • Plan • Save TAX PLANNING AND REPORTING ‹#›
Slide 6: Primary Business Taxes
Primary Business Taxes • Income Tax • Self-Employment Tax • State Income Taxes • Employment Taxes • Sales Tax • Local taxes TAX PLANNING AND REPORTING ‹#›
Slide 7: Federal Income Tax
Federal Income Tax • Sole Proprietorship • Partnerships • S-corporation • C-corporation • Limited Liability Company TAX PLANNING AND REPORTING ‹#›
Slide 8: Discussion Point #1: Federal Tax Forms
Discussion Point #1: Federal Tax Forms Complete Discussion Point #1 in the Participant Guide. What federal tax forms will you need for your business? TAX PLANNING AND REPORTING ‹#›
Slide 9: Employment Tax and Forms
Employment Tax and Forms • Federal Employment Taxes • Employer’s Annual Federal Unemployment Tax Return, Form 940 • Employer’s QUARTERLY Federal Tax Return, Form 941 • Forms • Employee’s Withholding, W-4 Form • Wage and Tax Statement, W-2 Form • Miscellaneous Income, Form 1099-MISC TAX PLANNING AND
Slide 10: State and Local Taxes
State and Local Taxes • State/County/City Income Tax • Permits • Licenses • Fictitious name permit (“doing business as”) • State Sales Tax TAX PLANNING AND REPORTING ‹#›
Slide 11: Know Your Tax Obligations
Know Your Tax Obligations • Your form of business determines how you pay income taxes • Pay-as-you-go TAX PLANNING AND REPORTING ‹#›
Slide 12: Cost of Not Paying Your Taxes
Cost of Not Paying Your Taxes Never use payroll taxes for working capital during cash flow shortages. TAX PLANNING AND REPORTING ‹#›
Slide 13: Money Management for Taxes
Money Management for Taxes • Know when, what, and how much • Save for taxes • Separate accounts TAX PLANNING AND REPORTING ‹#›
Slide 14: Accounting Systems
Accounting Systems • Deductions • Bookkeeping • Business accounting software • Cash versus accrual accounting methods TAX PLANNING AND REPORTING ‹#›
Slide 15: Using an Accountant
Using an accountant • Doing it yourself • Accountant services • Where to find a qualified business accountant TAX PLANNING AND REPORTING ‹#›
Slide 16: Services Business Accountants Offer
Services Business Accountants Offer • Business consulting • Personal finance advice • Information on organizational structures • Financing information • Audits • Reviewed or audited financial statements TAX PLANNING AND REPORTING ‹#›
Slide 17: Five Key Points to Remember
Five Key Points to Remember 1. Get qualified advice. 2. Learn your business tax liability: income, employment, self-employment, sales and social. 3. Set money aside to cover your taxes and avoid comingling funds. 4. Have an accounting system in place to track income and expenses. 5. An accountant ca
Slide 18: Summary
Summary • What final questions do you have? • What have you learned? • How would you evaluate the training? TAX PLANNING AND REPORTING ‹#›
Slide 19: Conclusion
Conclusion • You have learned about: • Managing your tax obligations • Typical taxes a business pays: Income, Self Employment, Sales, Employment, Local. • The forms and processes used to pay business taxes TAX PLANNING AND REPORTING ‹#›
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