Managing payroll, tax withholding and tax deductions can be time consuming and confusing, often requiring the costly support of an external accountant.
With MBO Partners’ Independent Professional Operating System and team of experts, automatic tax withholding is completed efficiently, accurately and compliantly. You’ll be able to see the exact financial details of each client payment in the MBO business center, the core feature of the country’s only Independent Professional Operating System.
This service is available to you for as long as you work through MBO, and it is provided free of charge.
Within the business center, you can:
Most self-employed workers must file quarterly tax estimates in addition to their normal annual return. MBO Business Services Associates enjoy automated tax payments so you don’t have to guess how much tax to pay or take the time to calculate your contribution.
MBO automatically withholds the appropriate taxes with each payroll, and a profit and loss based W-2 will be issued to you by MBO during tax season. This significantly streamlines the tax filing process.
As an independent consultant, there are a variety of operating expenses that are not billable to your client but that can be deducted from your taxable income. MBO Business Services Associates may deduct up to $3,000 in qualified expenses each year.
Please note that expense deductions are reviewed on a case-by-case basis. The guidance provided on this page does not constitute legal or financial advice.