3 Steps For Managing Your Small Business’s Taxes

Filing business-related taxes can often be a time-consuming and complicated process, especially for new entrepreneurs. Small business owners need a good understanding of the federal, state, and local taxes required to file. The types of taxes can range from income, employment, excise, and sales.

It is critical that business owners are set up for success well before tax season. Here are three steps for managing your small business’s taxes. Most small business owners hire an accountant to ensure that all tax filing and payments are made correctly. Accountants help reduce the amount of time business owners spend on taxes and booking.

business owners need to be prepared for the unexpected. Be sure to keep a rainy day fund that can be used to cover unexpected costs associated with the business throughout the year. However, business owners need to fully protect the income you set aside for tax purposes and not include it as part of the rainy day fund.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

San Jose Is No. 1 Among Top 25 Cities For Small BusinessBiz2Credit has identified San Jose as the “Best Small Business City in America,” based on average annual revenues, credit scores, age of business, and Biz2Credit’s proprietary BizAnalyzer score, which factors in the local business climate, including rents, cost of labor, and tax rates.
Source: Forbes - 🏆 394. / 53 Read more »

Cramer's week ahead: Don't underestimate the market's small gains'I want you to find relatively inexpensive stocks of good companies and then you can buy them on the cheap,' the 'Mad Money' host said. $mict
Source: CNBC - 🏆 12. / 72 Read more »