Every Entrepreneur Should Know These Tax Preparation Tips!

Being an entrepreneur, it is important to make sure that you know the impact that taxes will have on your business. Lisa Furgison’s article on articles.bplans.com discusses 5 ways to make sure that the finances of your business will be in line for the best possible tax benefits. The first topic that Lisa discusses is hiring employees vs hiring subcontractors. She explains that subcontractors don’t pay medicare and social security taxes, therefor if the IRS determines that one of your subcontractors is actually an employee you will receive a large tax bill.

Click here to read the full article by Lisa Furgison at articles.bplans.com.