As indicated earlier, one of the most important tax related forms that you must file is IRS Form SS-4 (Application for Employer Identification Number). This number is required to complete many other forms, and is required by banks to open a checking account. In Michigan, you can get this form by contacting:

Internal Revenue Service
ATTN: Entity Control
Cincinnati, Ohio 45999
606/292-5467
800/829-1040

The Federal Government considers sole proprietors, partners, and individuals who have set up S corporations to be self employed. Individuals falling into this category of the self employed must make quarterly advance payments against the estimated federal income tax. This income must be reported even if you did not actually receive it. This is done using IRS From 1040 ES. At the end of the year you then file Form 1040 along with Schedule C. You must also make quarterly payments towards your Michigan estimated single business tax whenever your estimated liability is more than $600. The form used for this purpose is Form C-8002, Single Business Tax Quarterly Return. The Michigan Single Business Tax is a modified, value-added tax. A good CPA can help you keep track of all the forms you need to file and can help you set up a system for keeping track of what you owe and filing the necessary forms.

On the state level, the State of Michigan has a form called Registration for Michigan Taxes, Form 518 which enables you to determine which taxes your business must pay. For more information contact:

Michigan Department of Treasury
Treasury Building
Lansing, MI 48922-0001
517/373-0888
800/487-7000
517-335-1135

The taxes you must pay depend on your type of business and may include, but are not limited to sales and use taxes, single business taxes, motor fuel taxes, tobacco products taxes, as well as:

Federal Unemployment Tax (FUTA)
800/829-1040

State Unemployment Tax
c/o MESA Tax Office
7310 Woodward Avenue
Detroit, MI 48202
313/876-5146

Worker’s Compensation
c/o Workers Compensation Bureau
P.O. Box 30016
Lansing, MI 48909
517/322-1195

Both Oakland County and Ferndale impose property taxes, which pay for binds, special taxes, and other municipal and county services. Ferndale City Property taxes are assessed annually and are paid to the City twice a year or annually to the Treasurer’s Office. County taxes can be paid to the County Treasurer, located in the City County Building. You will be assessed automatically as a property owner once you are listed as the owner of record of a property. If you do not receive a tax bill, however, you should contact the City and County Treasurer to insure you are not assessed late fees.

This information is advisory and summary in nature. All financial, tax, and legal questions should be answered by contacting your Certified Public Accountant and/or tax and corporate legal counsel.