From the course: Business Tax Foundations
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- [Michael] Thank you for joining me for this course. I hope you've enjoyed it and now feel better prepared to handle business taxes at all levels. Remember, taxes for businesses are assessed monthly, quarterly and annually and they apply at state, federal and sometimes even local levels. Therefore, it's important that you stay organized and keep very clear records. The tax man is very unforgiving. You want to make sure you can always prove that you've met all of your obligations. That'll help you to minimize unpleasantness and extra fees down the road. Make sure that you file on time to avoid penalties and keep an eye out for opportunities to reduce your tax burden through tools like the SEP and managing your SUTA outlays in order to lower your SUTA rate. Moving forward, keep practicing when it comes to dealing with business taxes. Look for opportunities to save money where you can and improve time and efficiency when it comes to doing your filings. And of course, keep an eye out for…
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