For entrepreneurs (and would-be entrepreneurs), thinking about and filing taxes can be a highly complicated process. Whilst many entrepreneurs use an accountant or software (though not all, see our post on the percentage of entrepreneurs who choose to go it alone), the following are key points to keep in mind.
1. Forming the Company as a C Corp, an S Corp, or an LLC 2. Qualified Small Business Stock 3. Granting Stock Options and 409A Issues 4. Sales Tax Issues 5. Payroll Tax Issues 6. Deductions for Home Office 7. Net Operating Losses 8. Employee vs. Independent Contractor Issues 9. Properly Documenting All Income and Deductible Expenses