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by Gregory Becker (Author)
Understand the A-Z of taxes within no time Does the idea of filing taxes overwhelm you? Do you feel lost and confused while dealing with taxes? Do you want to learn about the different types of taxes a small business must pay? Do you want to understand your rights and obligations as a taxpayer? If yes, then this is the perfect book for you. Even if you have never dealt with taxes or are worried that you don't know the basics, this book will come in handy.Understanding tax rules, regulations, and strategies are important for anyone who has a business. Irrespective of whether it is a small or large business, taxes are crucial. There are several types of taxes that must be paid that go beyond income tax. A small business has to pay employment or payroll tax, excise tax, self-employment tax, property tax, sales tax, dividend tax, and franchise tax apart from regular income tax. It is important to not just understand the different types of taxes, but you must also know the various rates of taxation.There are several rules and regulations about taxes. If you fail to pay certain taxes, regardless of whether it is a conscious or unconscious decision, it will certainly cost you additional money.The lack of familiarity with tax rules and strategies can lead to various mistakes that cost businesses thousands of dollars in the form of penalties and fines every year. Also, the type of taxes your business is required to pay depends on the type of business you run. It is safe to say that there are several different aspects of your business you must take into consideration when you pay taxes. From books of accounts to the separation of business and personal expenses to proper tax practices, there are various topics you should familiarize yourself with.There are millions of small business owners in the US, and the tax codes of this nation continue to change regularly. Also, there are several variations in taxes from one state to another. Therefore, you must understand different aspects of taxation, such as tax planning, expense tracking, business decisions, categories of expenses, types of taxes, creating the tax routine, avoiding penalties, and so on. Don't get scared if you have never dealt with any of these issues before. Even if all this overwhelms you, take a deep breath because you have nothing to worry about. Once you get the hang of it, you will realize how easy it is. This simple guide will teach you steps.In this book, you will discover:
- The different types of taxes for small businesses
- Importance of taxes for business decisions
- Rates of taxes payable
- Common tax practices for small businesses
- Filing for taxes
- Taxation mistakes to avoid
- Applicable deductions for small businesses
- Practical tax-saving tips
- Helpful applications for taxes, and much more.
