Federal Tax, Tax

Helpful Tips For Starting Your Own Business

Many people dream of being their own bosses. If you’re hoping to launch a business, get off to a strong start by making good decisions. For example, which business structure will you use (such as a sole proprietorship, partnership or corporation)? This decision will affect the taxes you pay. Another decision is whether to operate on a calendar year or fiscal year basis. You should also obtain a federal employer ID number to identify your business. If you hire employees, you must have them complete certain forms right away, including Form I-9 and Form W-4. Here’s more from the IRS, including links to requirements for individual states: https://bit.ly/3PvqbPe.  Contact us with any questions. © 2023