Stupid Tax #5 - Keeping the IRS Off Your Back: What You Need to Know About Business Taxes
Nothing induces cold sweats and sleepless nights like the thought of a letter from the IRS, or heaven forbid, an audit! After all, there are famous examples in the news about people going to prison for not paying their taxes, or being accused of tax fraud. Many new business owners needlessly worry about taxes and the IRS, however. With a little bit of knowledge, basic record keeping, and a good accountant, business owners can ensure they know their tax liability and pay taxes on time, every time, and avoid scrutiny from the IRS.
Mitchell Baldridge is a CPA and works with business owners every day to help them understand their tax situation, and file their taxes correctly and on time each time. Mitchell walks through the basic taxes every business owner needs to know about and pay, and Scott shares his experience in records management on keeping clean records and making tax time a stress-free process.
Get in touch with the hosts!
Mitchell Baldridge
Twitter: @baldridgecpa
https://baldridgefinancial.com
Scott Hambrick
Twitter: @hambrickscott
IG: @ogscotthambrick