Small Business Tax Tip – Deduct employment taxes

Over the years of my practice I have gleaned that one of the best approaches to sound tax compliance is for a small business to deduct employment taxes as it pays wages.

What I have observed is that a new small business will play catch up on employment taxes or remain unaware of filing requirements. If a new business immediately deducts employment taxes, its chances of staying compliant increase.

Talk to your CPA about this and starting off on the right track!

by Philip Falco, CPA

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