Taxes are not something most of us want to think about at all, much less months before the April 15 deadline. But with a bit of planning, you could end of saving on your tax bill.
In "Tax planning is Crucial for Startups," the author lists several ways small businesses--and home-based businesses--can get a jumpstart on getting a handle on their taxes. For example, startup costs can be tax deductible and cover advertising and market research, among other things. Keep all your receipts relating to your business in one file to make it easier to find come tax time. Remember that income taxes are pay-as-you-go, meaning you'll need to estimate quarterly taxes to keep in good standing with the IRS.
The article also lists some webinars and other online resources for tax newbies.
Until next time,
Sarah
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