Tag: tax obligations

When do I have to pay taxes for my small business? 28 Jul 2023
When do I have to pay taxes for my small business?

Alright, folks, it's time to tackle the elephant in the room, the dreaded "T" word - Taxes! So, if you're a small business owner like me, the question of "When do I have to pay taxes?" is as inevitable as a toddler's "why". The simple answer is: usually, quarterly! Yes, my friends, every three months we've got to give Uncle Sam his due. But hey, look at the bright side, it means your business is making money, and that's always a reason to break out the confetti!

What are the taxes for business owners in the USA? 21 Jul 2023
What are the taxes for business owners in the USA?

As a business owner in the USA, it's crucial to understand the various taxes you'll encounter. You're likely to deal with income tax, as businesses must report all earnings and losses to the IRS. Depending on your business structure, you may also be liable for self-employment tax, which covers Social Security and Medicare. Additionally, don't forget about sales tax, which varies by state and is collected from customers on goods and services. Lastly, property taxes may apply if your business owns real estate.