What Tax Obligations Should Entrepreneurs Be Aware Of?
Entrepreneurs must be aware of various tax obligations, including:
Self-employment tax: If you're self-employed, the IRS website provides details on how to calculate and pay self-employment tax. Quarterly estimated taxes: Entrepreneurs must pay taxes quarterly. The IRS website offers guidance on estimating and making these payments. Payroll taxes: If you have employees, you must understand and comply with payroll tax requirements, which are detailed on the IRS website.