Taxes! Taxes! Taxes! We all hate them and wish we never had to pay them. Unfortunately, taxes are part of the business landscape and one of the obstacles every entrepreneur needs to navigate. In this episode, we discuss some of the taxes that are part of the business landscape.

The uniqueness of everyone’s business situation makes it challenging to discuss specific tax implications. However, we dive into many important issues related to taxes that will help every entrepreneur. The topic of taxes can be very boring, so we make every attempt to keep things cool and exciting as we discuss the following about taxes:

· What taxes do small business need to know about

· How each business entity can be taxed

· Income tax due dates

· Paying estimated taxes

· Payroll tax due dates

· Income tax planning considerations

· Deductible expenses for income taxes purposes

If you are confused by taxes, then this episode will provide you with some important clarification related to many key tax issues. We always encourage our listeners to seek out competent professionals to help them with their specific situation. Taxes are no different. Working with a competent tax professional will help you avoid costly tax mistakes.

Need more information about taxes? Check out our course called the Business Startup Blueprint. In this course, we dive deeper into the income tax implications for setting up each type of business entity (i.e. sole proprietor, LLC, partnership, etc.). We also go into more details about what expenses are deductible business expenses.

For more details on our amazing online course the “Business Startup Blueprint” check out: https://www.startupempowered.com (https://www.startupempowered.com)

Check us out at:

http://www.acent101.com (www.acent101.com)

RECORDING NOTE:

The challenges presented by COVID have required us to do a lot of our episode recording using Zoom and other cloud meeting software. Normally this has not created any issues. However, during our post-production editing of this episode we noticed some recording quality issues, including our voices briefly cutting out or sounding garbled and a small echo when Darin is speaking. We made every attempt to correct these issues during our editing process…but to no avail. We apologize for these issues and will attempt to rerecord this episode at a later date.