In an economy rocked by the COVID-19 crisis, many taxpayers need a new way to earn income. If starting a new business is your goal, the IRS offers some helpful tips on actions you’ll need to take: Choose the business structure you wish to use, such as sole proprietorship, partnership or corporation. Apply to the IRS for an employee identification number, which becomes your business identity. Provide any employees with required employment forms. Learn what types of taxes your business must pay and how to pay them. Keep in mind that states have their own business requirements, so visit your state’s website to learn what to expect. For details on the IRS tips: https://bit.ly/3kVNyPJ Call or visit our website for more information! www.mjscpa.com/
