As a small business owner, you may assume the IRS does not have time to target your small business operations. However, recent reports
have cited that the IRS has increasingly targeted small businesses for tax audits. As this is TAX TIME, use this session to ask Neil Mukherjee, an accounting, payroll and tax consulting professional, advice on how to incorporate your small business to pay your taxes smartly.
Things to consider include:
- Choose your legal structure wisely
- Use tax deductions to lower your tax bill
- Write off your startup costs
- Pay quarterly taxes and other taxes on time such as Payroll tax, sales tax, excise tax