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Feb 27, 2013 ... Are you a first-year business owner or in need a business tax refresher? ... Being used to doing taxes as soon as the forms arrive, and receiving a hefty refund, I was shocked when my tax ... (I'm assuming you are a sole-proprietor or LLC. ... One final thought: You survived your first year as a business owner.


Feb 4, 2016 ... It did for me my first year in business. ... If you're a small business owner, you'll first have to determine which kind of business category you want to fall into. ... little more time, you can file for an extension on your business taxes.


Here are 5 things new business owners must know about income taxes. ... In fact, reports suggest that the IRS has increasingly targeted small businesses for audits in recent years. While the ... Filing estimated tax payments for the first time?


Learn how, as a new business owner, you should prepare for filing tax returns accurately ... It's your first year in business, and tax time has arrived. .... in Florham Park, NJ, specializing in working with entrepreneurs and small business owners.


Taxes are a challenge for many small business owners. What's ... You can, however, elect to deduct the first $5,000 in your first year of business for startup costs, and ... of filing as a C Corporation, which means double taxation for the company.


Sep 9, 2016 ... ... top five tax return audit questions, you may be able to avoid tax filing ... Small Business ... Everyone wants to avoid a tax return audit, especially those who earn self-employment income. ... How many years can I take a loss on my home business before I get ... Your best protection to survive and IRS audit?


Sep 6, 2016 ... Especially when, like many small business owners, you're wearing many hats each ... and filing for the right amount requires knowledge of the current tax codes . ... Startup costs — You can claim up to $5,000 the first year and equal ... own 80 % of an LLC, my share of the tax burden doesn't necessarily have ...


As an entrepreneur, you may have started your own small business to do what you love. ... They must file tax returns to report their earnings, and they must collect sales tax. ... while 70 percent of new small businesses survive at least two years, only half survive the first five years and ... My consent does not require purchase.


Feb 16, 2010 ... But if the business then turns a loss in later years, tax rules allow the business to ... By filing an amended tax return for the earlier, profitable year, the business can ... But last year's Recovery Act extended the window for small ... "Whether they survive or not might depend on whether they get the refund back.