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Small Business Management - Taxation
One of the first things you need to understand as a small business owner is how taxation works in your particular industry. Each industry has nuances and regulations when it comes to taxes, so it's essential to be familiar with the specific requirements for your business. Once you have a solid understanding of the tax landscape, you can develop a tax strategy for your business.
There are many different types of taxes that small businesses need to pay, including income taxes, sales taxes, and payroll taxes. Depending on the size and structure of your business, you may also be required to pay other taxes, such as property taxes or self-employment taxes. Understanding the different taxes and how they apply to your business helps you budget and plan accordingly.
- Understand the basics of taxation for small businesses
- Develop a tax strategy for your business
- Define the primary tax liabilities of your business
*This course references US legislation and statistics.