Important tax insights for small business owners

It's tempting to ignore taxes until they come due, or pass off all of the paperwork to your accountant. However, every small business owner should understand the fundamentals of taxes, including the policies that affect their day to day. Plus, discover strategies to make sure you don't get caught flat-footed on Tax Day. New tax regulations will affect each type of business entity differently. Understand how current policy could impact your bottom line now and in the future. When you're busy running your business, you might lose sight of tax obligations. But tax mistakes can be costly, so understand how to stay a step ahead.