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4 Ways Small Business Owners Can Stay Tax Compliant

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By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. Pay Self-Employment Tax. Pay Quarterly Estimated Taxes .

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The Small Business Guide to Revenue vs. Profit

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Subtracting this from the gross margin gives you an operating income of $69,916. But they also had other income of $1,186, so total income before taxes accounted for $71,102. Provision for income taxes totaled $9,831. The post The Small Business Guide to Revenue vs.