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Five Basic Tax Tips for New Businesses

Five Basic Tax Tips for New Businesses

If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five basic tax tips that can help get your business off to a good start.

1. Business Structure.

  As you start out, you’ll need to choose the structure of your business. Some common types include sole proprietorship, ...

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JUL
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Categories: Health Care Law, IRS, New Business, Payroll, Taxes

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Hire Your First Employee

Hire Your First Employee

 

If your business is booming, but you are struggling to keep up, perhaps it’s time to hire some help.

The eight steps below can help you start the hiring process and ensure you are compliant with key federal and state regulations.

Step 1. Obtain an Employer Identification Number (EIN)

Before hiring your first employee, you need to get an employment identification number (EIN) from the U.S. Internal Revenue Service. The EIN is often ...

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FEB
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Categories: Bookkeeping, IRS, New Business

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