Atlanta Small Business Tax FAQs: Expert Answers from BizWise Consulting

Introduction

Taxes can be one of the most confusing—and stressful—parts of running a small business in Atlanta. At BizWise Consulting, we specialize in helping local entrepreneurs navigate tax compliance, maximize deductions, and avoid costly mistakes.

In this article, we’ll answer the most frequently asked tax questions from Atlanta small business owners. Whether you’re filing for the first time or looking for ways to save, this guide will help you stay informed and financially savvy.

1. What Taxes Does My Atlanta Small Business Need to Pay?

Atlanta businesses typically deal with:

Federal Taxes

• Income Tax (Profit reported on your personal or corporate return)

• Self-Employment Tax (15.3% for sole proprietors & freelancers)

• Payroll Taxes (If you have employees)

Georgia State Taxes

• Georgia Corporate Income Tax (5.75% for C-corps)

• Georgia Personal Income Tax (1%-5.75% for pass-through entities)

• Sales & Use Tax (4% state + local Atlanta rates)

Local Atlanta Taxes

• Business License Tax (Required for most businesses)

• Fulton County Taxes (Additional fees may apply)

BizWise Tip: Some Atlanta businesses (like restaurants) may also face special taxes (e.g., alcohol tax).

2. What Deductions Can My Atlanta Business Claim?

Maximizing deductions lowers your taxable income. Common write-offs include:
✅ Home Office Deduction (If you work from home)
✅ Vehicle Expenses (Mileage or actual costs for business use)
✅ Supplies & Equipment (Computers, tools, office furniture)
✅ Employee Wages & Benefits
✅ Marketing & Advertising Costs
✅ Professional Services (Legal, accounting, consulting)

Atlanta-Specific Deductions:

• Georgia Film Tax Credit (If in media production)

• Job Tax Credit (For hiring in certain zones)

3. When Are Atlanta Small Business Tax Deadlines?

Missing deadlines leads to penalties! Key dates:

Federal Deadlines

• March 15 (S-Corps & Partnerships)

• April 15 (Sole Props, LLCs, C-Corps)

• Quarterly Estimated Taxes (Apr 15, Jun 15, Sep 15, Jan 15)

Georgia Deadlines

• April 15 (Personal & Corporate Income Tax)

• Monthly/Quarterly Sales Tax (Due the 20th of the following month)

Atlanta Deadlines

• Business License Renewal (Varies by city/county)

BizWise Reminder: Extensions are available but don’t delay payment!

4. Do I Need to Collect Sales Tax in Georgia?

Yes, if you sell taxable goods/services.

• Georgia State Rate: 4%

• Atlanta Local Rates: Vary (up to ~8.9% total with county/city taxes)

• Nexus Rules: If you have a physical presence or meet economic thresholds ($100K+ sales), you must collect tax.

Exemptions: Some services (like consulting) may not require sales tax—check with a professional.

5. How Can I Reduce My Tax Bill Legally?

Smart tax planning strategies:

• Hire Family Members (Shifts income to lower brackets)

• Retirement Contributions (SEP IRA, Solo 401(k))

• Depreciation (Section 179 deduction for equipment)

• Georgia Tax Credits (Research & Development, Film Credits)

BizWise Strategy: We help Atlanta businesses structure expenses to minimize taxes.

6. What Happens If I Miss a Tax Payment?

• Late Filing Penalty: 5% per month (up to 25%)

• Late Payment Penalty: 0.5% per month

• Interest Charges: IRS & Georgia add compounding interest

Solution: File even if you can’t pay—penalties are lower for late payment than late filing.

7. Should I Hire a Tax Professional or Use Software?

DIY (Software): Good for very simple returns (e.g., sole prop with no employees).
Tax Pro (Recommended): Worth it if you:

• Have employees

• Operate in multiple states

• Want to maximize deductions

• Are audited or behind on filings

Why BizWise? We know Atlanta’s tax landscape and save clients thousands yearly.

Final Thoughts: Smart Tax Planning = More Profit

Taxes don’t have to be scary—with the right knowledge and support, you can keep more of your hard-earned revenue. At BizWise Consulting, we make tax compliance simple so you can focus on growing your Atlanta business.

📞 Have more tax questions? Contact BizWise for a free consultation!