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Get And Sign K Cns 101 2014-2021 Form

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how to pay taxes on your small business small businesses may have to pay a variety of federal and state or local taxes avoid harsh penalties by learning how to pay them you will need estimated tax payments an income tax return excise tax payments employment tax payments sales tax payments and state and local tax payments optional self-employment tax payments step one make quarterly estimated tax payments to the IRS if your total tax bill in a given year will exceed $500 estimated tax payments are due four times a year on April 15 June 15 September 15th and January 15 pay self-employment tax if your annual net earnings will be 400 dollars or more step 2 file an annual income tax return the form you use will depend on how your business is organized whether it is a sole proprietorship partnership corporation or limited liability corporation keep tax related documents for a minimum of 7 years step 3 pay excise tax if your business engages in qualified activities for example excise taxes ar

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