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How to Prepare Your Business for the Tax Season

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Businesses have a lot to manage; the ever-increasing market competition, adopting new technology, streamlining business processes, improving product quality, enhancing customer service, and a lot more. To add to the burden of every business owner, there is the stress of managing accounting and taxes. Irrespective of the business type one own, when it comes to tax return preparation every business owner becomes anxious due to the complexity of filing their tax returns accurately. With so many IRS guidelines to follow, it can become difficult for business owners to focus on their core activities, while at the same time filing their taxes error-free. Here are some key tax-related statistics and info all businesses should be aware of: The last quarterly deadline for the 2019 tax year is January 15, 2020. It is imperative to pay 90% of the current year's income taxes and 100% of the previous year's tax liability to avoid IRS penalties. Employers have two options to pay taxes against

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