You’ve incorporated your venture as an LLC (limited liability company), and it’s almost time to do your taxes. However, the IRS doesn’t provide a specific LLC tax form. Instead, you must file taxes for your LLC using other IRS forms, depending on several factors and your elections. LLC taxes may sound complicated, but determining how to file your business tax returns should be a one-time event. From then on, you’ll continue filing the same way unless something significant changes.
Tag: business taxes
Small Businesses Must Think About Taxes All Year Long | Business
Fold tax planning into your overall business strategy to efficiently tackle your taxes.
For many small businesses, tax season is a grueling time of year. It’s often associated with stress, record-combing and exhaustion. This is one of the key reasons why small businesses should be thinking about their taxes year-round and prepare long before it comes time to file. By folding tax planning into your overall business strategy, small business owners can tackle their taxes far more effectively (and may even end up with bigger deductions than they anticipated!). Here are some of the best tips for keeping taxes a priority for your small business 365 days a year.
How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity | Entrepreneur
If you’re confused about what type of business entity to set up — entrepreneur or contractor — under the new Tax Cuts & Jobs Act of 2017, you’re not alone.
Whether you’re an Uber driver, tech startup founder or medical professional contractor, you’ll find that the new tax law will significantly impact your 2018 returns. So, don’t waste any more time mulling this question because you have only a few months left to make changes that will affect your 2018 tax liability.
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