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Self-employed? You may owe the IRS quarterly tax payments.

There are many perks to being your own boss. You set the hours, expectations and goals — but you also must manage the paperwork, files and tax obligations. For some, this is another perk. The need to organize paperwork may feel bring a sense of joy akin to completing a difficult puzzle. For others, the paperwork may seem more of a required burden. Regardless of which description you can relate to, business owners must get the job done.

3 things to know as business owners prep for 2018 tax filings

Business owners are preparing to file for taxes under a whole new federal income tax regime. The Tax Cuts and Jobs Act (TCJA) passed last year led to the biggest change to the tax code in decades. A number of these changes directly impact small and medium sized businesses. Three specific changes to keep in mind when gathering data and documents for your returns include:

Business owners continue to struggle with new tax law

The Tax Cuts and Jobs Act (TCJA) led to major tax reform. One specific section of the Act has produced some confusion for small business owners: the qualified business income deduction. This deduction has gone into effect for 2018 tax returns. As such, it is important to have a basic understanding of how the deduction could impact your taxes related to your business income.

Starting a business in 2019? The importance of incorporation.

Understanding elements of business law is essential for new business owners. The United States Small Business Administration (SBA) reports there are 30.2 million small businesses in the United States. This translates to 99.9 percent of all businesses in the country. Small businesses provided new jobs for over 1.9 million workers in 2018 alone. Roughly 400,000 businesses are started every month, of which about 10% hire employees.

Entrepreneurs: Two ways to reduce your business tax burden

A strong tax planning strategy can save your business money. Amazon received press earlier this year after its tax bill became public. The retail giant paid only $1.4 billion in income taxes between 2008 and 2017. This is significantly lower than another giant in the retail market, Walmart. Walmart reportedly paid over $64 billion in income taxes during the same time period.

Three steps for businesses facing a lawsuit

At some point in time, a business owner may face a lawsuit. This suit could be the result of any number of things such as an employee who alleges employment law violations like discrimination or harassment, a client who has issues with the business' products or services, or a slip and fall accident involving a member of the public.

Non-competes & clickwrap: Will they survive a legal challenge?

Clickwrap agreements result when a user clicks a button or checks a box to confirm that he or she accepts the agreed upon terms. Businesses often use these contracts for those who are setting up an email account, using an online banking system or purchasing a product through the Internet.

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