Frequently Asked Questions
YOUR QUESTIONS
Answered
At White Rabbit Financial, we know that tax and accounting can feel complex. Our goal is to bring clarity to the process and provide support that helps you make confident financial decisions.
​
Below, you’ll find answers to some of the most common questions we receive. If you don’t see what you need, feel free to contact our team, we’re here to help.
What services does White Rabbit Financial provide?
White Rabbit Financial offers tax return preparation, monthly accounting support, bookkeeping, and advisory services for both individuals and businesses. Our team provides clear, reliable guidance to help you stay compliant and make informed financial decisions.
How do I get started with White Rabbit?
To begin services, simply complete our onboarding form and provide your basic business details and documentation. If you still need to form a business entity, we can connect you with DSA, our trusted partner for business formation.
​
Once your onboarding is submitted, our team will guide you through the next steps and set up access to your Client Area.
How often will I receive financial reports?
You’ll receive monthly financial statements that help you stay on top of your income, expenses, and tax obligations throughout the year.
Do you offer support with quarterly estimated taxes?
Absolutely. We calculate and help you plan for your quarterly tax payments, so you’re not hit with surprises at year-end.
What is an EIN?
An EIN is a federal tax ID assigned by the IRS to identify your business. It’s required for filing taxes, opening business bank accounts, running payroll, and other key financial activities. If you need help obtaining an EIN, we can connect you with DSA.
How do I pay myself a salary as a business owner?
As President, Sole Owner, and Officer of your company, the IRS requires you pay yourself a reasonable salary. Your Accountant will discuss your salary with you and prepare all necessary Federal and State forms for withholding and unemployment. Included with your payroll will be instructions on payments and agency addresses.
Can White Rabbit Financial file both my personal and business tax returns?
Yes. We prepare and file both federal and state tax returns for businesses and individuals, ensuring your full financial picture is coordinated, accurate, and compliant.
How do I submit my monthly report to White Rabbit?
Clients submit monthly income and expense details through our secure online system. Once logged in, you can complete and upload your information directly through your Client Area.
​
If needed, documents can also be sent by email. Submitting your information on time each month ensures accurate reporting, proactive tax guidance, and year-round compliance.
What if my previous accountant filed the wrong forms?
We frequently assist new clients who need to correct or update past filings. Our team will review your prior returns, identify issues, and help you make any necessary adjustments to ensure accuracy and compliance.
Can White Rabbit Financial help me form a corporation or LLC?
White Rabbit Financial does not handle entity formation directly, but we partner with DSA, who provides full business formation services. If you need help forming a corporation or LLC, we can connect you with their team to complete the process.
What if I use a part time helper?
You should always have a signed contract between you and your part-time helper. This will help make it clear that they are a part-time helper (independent contractor) and not an employee. Always keep a copy of your signed contract for your records. Pay your contractor by check and obtain their address and Social Security Number. At year-end you will have to issue this contractor a 1099 if paid more than $600/year. Learn more here.
How do I stay compliant?
Your Accountant will help guarantee compliance by making sure you are filing the proper tax filings and annual reports to keep your business in good standing. It is always good measure to send any notice you receive to your Accountant to avoid scams!
DSA Tax & Bookkeeping is joining White Rabbit Financial. You may notice changes to this site over the next few weeks as we complete the transition.