When you first open your business, your business credit score may be nonexistent. This may require you to open loans with your personal name. However, aside from these initial loans, your personal credit will have nothing to do with your business's credit. In fact, business scores are calculated with different factors.
As quoted in the Los Angeles Times (March 15, 2010)You can never eliminate that chance of being audited, because a perfect tax return will be suspicious, too (who files perfect taxes?) Company.com has ten ways to reduce your risk of an audit Ė we figure that most small businesses donít have big accounts in the Caymans or Switzerland, and that if youíre reading this you havenít run into significant tax problems in the past. Otherwise you'd know this stuff already.
Taxes can be the death of your business. Or rather, a failure to understand, or a willful underpayment, of taxes can be the death of your business. If you happen to be unlucky enough to get audited, or careless enough to underpay your taxes over a period of years, and you land yourself a $5,500, $20,000 or $150,000 tax liability, there are tax resolution services you can go to for help.
is it possible that an increase in UI taxes will cause businesses to fold? Company.com did a little digging.
A good preparer also has the business acumen to tell you when you should make changes to the way you work. Anyone can run Quicken or use H&R Block automated tax preparation software. It takes brains to know how to use the tax information to glean business insight.
If you fully understand how to apply the dozens of different classification categories for depreciating fixed assets on a double-declining basis, feel free to keep your own tax records. Of course, if you do youíre probably an accountant, so thatís not exactly fair.
Which companies are the best known tax payment services? Do they offer services targeting small and medium-sized business?
Taxes bring joy to no one. For creative entrepreneurs, it can be the very worst part of their job. Companies are out there to keep your tax records and file your business taxes for you. Given the intricate and ever-shifting tax code, this may be one area in which a professional hand can really be valuable.
Day four of Startup Boardroom presents Diane Kennedy, author of "Loopholes of the Rich," with a few words about accounting, cash flow statements and beer.
Megan Hughes, an expert on business formations, inaugurates Startup Boardroom with her answer -- if you think you've found a way to start a company without help, you're probably fooling yourself.