Five Tax Obligations Startup Business Need to Know About

My practice is built around the needs of small businesses. Often, I met with startup client’s right after they have opened their doors for business to discuss the state and federal tax obligations they have. On the opposite end of the spectrum are startup clients who call me for help right after they have just found out the hard way that they have federal and state tax obligation.

When I owned a startup logistics company, I fell into the later category (see my blog post, A Call from the IRS is How I Learned About W-2’s, for details on this).

Over the next week or so, I am going to post about the federal and state taxes that most startup businesses have, including:

1. 941 Employer’s Quarterly Federal Tax Return
2. 940 Federal Unemployment Tax (FUTA/FUI)
3. State Unemployment Tax (SUTA/SUI)
4. Personal Property Tax
5. Estimated Taxes for Business Owners

I hope you find this series informative.