Learning about taxes your business needs to pay is exhausting. From the employer’s portion of FICA, federal unemployment, state unemployment, sales tax as well as the other requirements parallel to taxes like annual filing fees, licenses and workman’s compensation, owners’ eyes glaze over as they weigh the complexities and time requirements of tax compliance.When you look at these taxes in the aggregate, they act like opportunistic mosquitos slowly pricking […]
BELOW GROUND
You have little to no engagement with your accounts.
The qualifiers.
- No vendor relationships, you resell retail products
- No differentiation between cost of good and expenses
- You digitally submit and approve time cards
- No collection of sales tax
- Late payments on account (tax return is in arrears, late loan repayments)
Some big (and simple) changes would reshape your position but you’re gonna want to take action pretty quickly.