Dale & Eke is taking the COVID-19 outbreak very seriously.  So, for the purpose of maintaining social distancing under CDC guidelines and to promote the health and safety of our clients, visitors and staff and reduce the spread of COVID-19, our physical office will be closed until further notice.

For the time being we are limiting all in-office meetings to those clients and potential clients who are not feeling ill or who have not shown signs of illness.  However, we are recommending that, unless you make other arrangements with your attorney, all client and potential client meetings occur via telephone or video conferencing.  If you have any paperwork for us that you need to drop off, please use the mail slot outside of the front door to our office.

We can still be reached at our office telephone number (317-844-7400). Your call will be answered by our office phone system and you may leave a voicemail in the general mailbox or with a specific attorney. All voicemails left in the general mailbox will be routed to the requested attorney or staff.

You may also email the firm through its website at  www.daleeke.com.

We will continue to monitor this evolving situation and adjust procedures as necessary.  Your health and safety, and the health and safety of our attorneys and staff, is our highest priority.  We thank you for your patience and understanding during these uncertain and unprecedented times.

A Professional Corporation of Attorneys at Law

Reviewing different kinds of business taxes

On Behalf of | Aug 11, 2021 | Business Law

Whether you run a large company or a small firm, it is crucial to understand your tax obligations. Business owners have to pay various types of taxes and you need to familiarize yourself with your tax obligations based on your unique circumstances.

It is crucial to avoid falling behind on taxes, whether you need to set aside money and look ahead, apply for an extension or make financial sacrifices in order to stay current.

Looking at various kinds of taxes businesses have to pay

According to the Internal Revenue Service, business owners have to pay taxes for a number of reasons. With the exclusion of partnerships, every business needs to file income tax returns each year. Moreover, if you are self-employed, you have to pay self-employment taxes. If you have staff members, you will need to pay employment taxes and most businesses have to pay estimated taxes throughout the year. Depending on the nature of your business, you could have to pay excise taxes as well.

The consequences of missing tax payments as a business owner

If you miss tax payments or fail to pay taxes for an extended period of time, you could face harsh repercussions as a business owner. The IRS imposes stiff penalties on many businesses that miss tax payments and you could also have to pay interest on back taxes. Sometimes, the financial impact of back taxes creates serious hardships for businesses, even threatening the future of these firms altogether.

If you are already facing legal challenges over unpaid taxes, you need to review your options and identify the best path forward.