The StartUp Journey - How To Deal With The Tax Man

/
photo-of-person-holding-pen-1028726.jpg

You are living the dream. You wake up when you want to and you call your own shots. The passion that you have always held to run your own business is coming to fruition before your very own eyes. What could go wrong?

You didn’t take taxes out and now you owe the tax man big time.

This is not supposed to be ruining your entrepreneurial dream. What can you do now to avoid this sad scenario that plagues many new startup business owners? Get informed and get your ducks in a row.

Get Informed

So now that you have made this pile of cash how much of it do you really need to set aside for the tax man? According to Bench.com, you should save a minimum of 30% off the top to save for taxes. “Land somewhere between the 30-40% mark and you should have enough saved to cover your small business taxes each quarter.”

Get Your Ducks In A Row

Take some time to find a qualified professional who can walk with you on this tax journey. They can also help you plan for the future so that you can avoid paying too much in taxes. Check out an Endorsed Local Provider from the Dave Ramsey network.

The startup journey is very exciting but it is no fun when you owe the tax man so get busy planning for your taxes. I wish you the best on your new journey.

Keep IT Sunny!