SBA Taxing Explanations

This explains how to determined what types of taxes you need to fill out for you small business, as well as how to find some of the information necessary to do your taxes. The SBA taxing explanations also detail tax obligations for hobbies versus businesses, how to obtain a federal tax ID number (necessary to file tax returns and to issue tax forms to employees), and how to determine tax liabilities on both the state and federal levels.

 

Applicability to Business

  • Taxes are one of the few absolute certainties in life, for both individuals and businesses
  • Employees must be able to meet their tax obligations

 

Learning Outcomes

  • Learn if prospective business is classified as a hobby or a business
  • Determine state tax obligations and laws
  • Determine federal tax obligations and laws

 

 

https://www.sba.gov/starting-business/filing-paying-taxes