Springtown, north of Weatherford along Highway 199, has a strong small-town business community, and new businesses open every year. Getting the tax setup right in year one saves money and headaches later. Longino CPA Firm, PLLC helps Springtown business owners choose the right structure, understand their Texas filings, and prepare their returns, along with individual returns for local families.
Tax help for new Springtown businesses
- Choosing a structure: sole proprietorship, LLC, or S corporation, and what each means for your taxes
- Getting set up: an EIN from the IRS and a separate business bank account
- Texas filings: which annual franchise tax reports your LLC or corporation needs, and whether you need a sales tax permit
- Your first return: startup costs, equipment, and deductions in your first year
- Paying yourself: owner draws versus salary, and planning quarterly estimates
See our tax services and pricing.
Frequently asked questions
Do I need an LLC to start a business?
No. You can operate as a sole proprietor and report income on your personal return. An LLC mainly adds legal liability protection; by default, a single-owner LLC is taxed the same as a sole proprietorship. We help you weigh the cost and the benefit.
Do I need a Texas sales tax permit?
If you sell taxable goods or taxable services in Texas, you generally need a sales and use tax permit from the Texas Comptroller before you start. The permit itself is free.
Can I deduct costs from before I opened?
Often, yes. Many startup and organizational costs can be partly deducted in your first year, with the rest spread over later years. Keep receipts from the beginning so nothing is missed.
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