Best all-in-one accounting software for veterinarians
All-in-one finance platform for accounting, bookkeeping, taxes and payroll for veterinarians
Why veterinary practice owners trust mesha
Hours saved on accounting, bookkeeping and financial admin tasks
saved on bookkeeping and tax fees
accurate financial insights
Financial powerhouse for your veterinary practice
Intelligent accounting software for modern veterinary practices
Supercharge your veterinary practice’s growth and close your books 3X faster
Expert Bookkeeping tailored to your veterinary practice's needs
Operating a veterinary practice comes with specific financial complexities. Our expert accounting and bookkeeping services are tailored to address the unique financial requirements of veterinary practices. Whether you're managing an independent veterinary practice or part of a larger healthcare organization, we comprehend the intricacies of your financial landscape and are fully equipped to manage them with precision and efficiency.
Trusted tax management and filing for veterinary practices
Tax Management Software
  • Automated tax calculation for sales, payroll and federal
  • Reminders on taxes and compliance filing
  • Tax ready reports with P&L, expenses and balance sheets
Tax Prep and Filing
  • Instant access to top tax consultants for veterinary practices
  • Proficient counsel on veterinary specific tax frameworks and tax-efficient strategies
  • Minimizing tax liabilities and maximizing deductions
  • Stay up to date on dynamic tax laws and regulations impacting veterinary practices

Tax related FAQs for veterinary practices

What tax forms do veterinary practices need to file annually?

Veterinary practices are typically structured as businesses, and the form they need to file annually depends on their legal structure:

  • Sole Proprietorship:Owners of sole proprietorships report their business income and expenses on Schedule C, which is part of their personal tax return (Form 1040).

  • Partnership:Veterinary practices structured as partnerships must file Form 1065, which is an informational return. The income and expenses are reported on this form, and individual partners receive a Schedule K-1, which shows their share of the partnership's income, deductions, and credits.

  • Corporation (C-Corp):Veterinary practices set up as C-Corporations file Form 1120, the U.S. Corporation Income Tax Return.

  • S-Corporation (S-Corp):If the veterinary practice is structured as an S-Corp, it files Form 1120S, the U.S. Income Tax Return for an S Corporation.

In most states, veterinary services are considered non-taxable services, which means they are generally not subject to sales tax. However, some states may impose sales tax on certain services, so it's important to check your specific state's regulations. In states where sales tax applies, it typically relates to the sale of tangible goods, such as pet medications or pet food.

Property tax exemptions for veterinary practices depend on local tax laws and regulations. In some cases, veterinary practices may qualify for property tax exemptions or reductions if they meet specific criteria, such as offering low-cost or charitable care to animals in need. It's important to inquire with your local tax authorities and understand the requirements for property tax exemptions in your area.

Yes, employee wages in veterinary practices are subject to various payroll taxes, including federal income tax withholding, Social Security tax, Medicare tax, and state income tax withholding. Employers are responsible for withholding these taxes from employee paychecks and remitting them to the appropriate tax authorities. Additionally, veterinary practices may have other employment tax obligations, such as federal unemployment tax (FUTA) and state unemployment tax.

Veterinary practices operating as corporations (C-Corps) or limited liability companies (LLCs) are separate legal entities from their owners. They must file business income tax returns, such as Form 1120 for C-Corps or Form 1120S for S-Corps. These business structures may provide specific deductions and credits, and owners may receive income through salaries, dividends, or distributions, each of which has distinct tax implications. Consulting with a tax professional experienced in small business taxation can help owners navigate these complexities.

If a veterinary practice offers animal rescue or adoption services as part of its operations, there may be specific tax implications. Expenses related to these services may be deductible, but the tax treatment can vary based on the structure of the practice and the nature of the services provided. Consulting with a tax advisor with expertise in veterinary practice taxation can help ensure compliance with relevant regulations and optimize potential tax benefits. Additionally, record-keeping is crucial to substantiate deductions related to rescue and adoption efforts.

Making payroll painless for veterinary practices

Our comprehensive payroll features help make payroll management super simple.

Stay compliant with mesha
  • Off Cycle payroll and flexible payment schedules

  • Next day direct deposit

  • Payroll Deductions and Garnishments

  • Overtime and reimbursement calculations

  • Payroll and taxes across multiple states

  • Payroll for FTEs, contractors and freelancers

Payroll taxes and compliance

We take care of taxes and compliance to adhere to the local regulations and government declarations.

Stay compliant with mesha
  • Automated tax calculation

  • Tax filing and reporting

  • Tax codes and regulation updates

  • Multi jurisdiction compliance

  • Tax liability tracking

  • Work Classification Compliance

  • SUI Reporting

  • Wage Garnishments and Deductions

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