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    0 Replies Latest reply on Jan 12, 2020 2:16 PM by nationwide68

    Make Tax-Compliance a top 5 priority

    nationwide68 Adventurer

      The rules are simply when it comes to Tax-Filing and Tax Compliance. America operates

      a voluntary Tax-Filing and Tax Reporting system. That said, the IRS and STATES uses

      penalties and interest charges to punish the offenders.

       

      One of the largest IRS penalty is the Failure-To-File your Tax Returns on time. This penalty

      can added hundreds if not thousands to a Tax Debt by NOT filing on time.

      Further, if you're business is new and makes a loss the best way to preserved this loss and use

      it to off-set future profits is by filing your Tax Returns.

       

      Start this year by separating your personal expenses from your business expenses. Get separate

      checking accounts. Pay yourself a salary and stay current with your estimated tax payments.