Small Business Owner Guide: Tax Returns

Tax season may come as a challenge if you’re a small business owner.

Here are some tips that will help you in the process of filing your business tax return in your first year of operation.

A Checklist for First-Time Filers of Business Tax Returns

Review the Business Tax Return Completely
Choose an Accounting Basis
Choose a Depreciation Method
Remember Your Home Office Deduction
Don’t Forget Non-employee Compensation
Keep Track of Automobile Expenses
Plan for Paying Self-Employment Tax

Rosenberg, Joseph “7 Tips for Filing Your First Tax Return as a Small Business Owner.” 20 November 2019

Silicon Harbor Business Services is based in Mount Pleasant, SC.  We provide solid, practical advice to small business owners and select individuals.  

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