The Most Common Tax Mistakes Made by Small Businesses
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Are you one of the thirty million Americans who own and operate a small business? Each year, more and more people are taking the leap to be their own boss and build their own company. In 2010, there were 2.5 million new business applications filed in the U.S. Last year, there were over four million filed before we reached December. Unfortunately, the majority of these businesses will fail over the first five years of operations - not because the owners lost their passion or drive to succeed, but because they made critical mistakes in areas of taxation, finances, and funding. Every successful b...
Are you one of the thirty million Americans who own and operate a small business? Each year, more and more people are taking the leap to be their own boss and build their own company. In 2010, there were 2.5 million new business applications filed in the U.S. Last year, there were over four million filed before we reached December. Unfortunately, the majority of these businesses will fail over the first five years of operations - not because the owners lost their passion or drive to succeed, but because they made critical mistakes in areas of taxation, finances, and funding. Every successful business must have a solid tax, financial, and legal foundation supporting the passion and potential so the organization can grow strong and prosper. What happens when a company's fundamental financial foundations are unstable? The business owner can experience stress, struggle, and strain, and their business can face tax assessments, audits, financial penalties, or even bankruptcy. Even though this happens to some people, it doesn't have to happen to you! The Most Common Tax Mistakes Made By Small Businesses, written by leading tax, financial, and legal experts, gives you the answers to questions such as:Do I set up an LLC or an S Corp to reduce my tax responsibility? Can I buy everything I want and write it off on my taxes? Do I really need to have a business insurance policy? I'm just starting out, do I need a plan for retirement? Who can help me if the IRS audits my company? Isn't tax planning just for huge corporations? This book is an invaluable resource to help entrepreneurs find and fix the top tax and financial mistakes, protect themselves financially and legally, as well as protect their business and assets. If you are a small business owner, or thinking of starting a new venture, the information in this book will give you everything you need to have peace of mind around your tax, financial, and legal operations so you can build the business of your dreams on a truly solid foundation.
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