Friday, August 06, 2010

Tax Tips for New Business Owners

The Business Owner's Toolkit - Total Know-How for Small Business is a useful website that provides guides, tips, and pertinent information for small business owners. This week, I received an email about an article on Tax Tips for New Business Owners. Based on the a checklist from the IRS, the article provides information on common tax issues that all new business owners must address, including:

Choice of Business Entity
Tax Obligations
Employer Identification Number
Recordkeeping
Accounting Period
Accounting Method

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