From Contract Worker to Company: Tax Tips for Your New Business
Many small businesses get their start as a one man operations/business.
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Some businesses are capable of starting out with new employees, while others might have to wait to hire staff.
Tax planning and filing tips can give you a much better business image with the IRS.
Tips like… Get an EIN (employer ID number). That way, you’ll protect your own social security number and show the government that you are truly a business operation.
Tips like‌ ďƒź Keep business finances separate from personal finances. Keep receipts and books so that you can always provide records to the IRS if needed.
Tips like… Plan head. You can read up on small business taxes, planning tips, and how to effectively create a tax strategy.
Your company sounds like a business‌ ‌ but does it look like one?
Even if you can’t do all this immediately, it should be on your agenda as you grow. After all, you are a business, not just a person. www.cbs-cbs.com www.pinterest.com/cbsadvisers/ www.youtube.com/user/cbsadvisers