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Taxes are a Fact of Life

on October 31, 2012 - 9:45am

SBDC News:

Whether you are a sole-proprietor, LLC, partnership or corporation, business taxes are a fact of life.

While you were running your business this year, new tax law was being enacted and changes were being made to the current tax code.

Most business owners don’t have time to keep up with all these changing tax laws. This is why attending the University of New Mexico-Los Alamos Small Business Development Center workshops on taxes is so important.

It is important as a business owner to understand what expenses can be deducted from tax returns.

There is a distinct difference between sole-proprietor taxes and partnership and corporate tax returns.

Sole-proprietors have self-employed taxes and specific requirements for what documentation is required.

Corporations and Partnerships file a business return and have requirements for what classifies income and what expenses are deductible.

James Dinkel, CPA, will be discussing all of this in two separate workshops. Dinkel is a Certified Public Accountant practicing in Los Alamos.

Register today at www.losalamosbusiness.com to hear the latest tax updates; Sole-Proprietor Business Taxes and Single Member LLC at 1 p.m., Nov. 8 and Corporations and Partnership Business Taxes at 1 p.m., Nov. 15.

Find more information about other business assistance services and workshops, visit www.losalamosbusiness.com; Like us on facebook at www.facebook.com/LosAlamos.SBDC; Follow Us on Twitter at www.twitter.com/unmla_sbdc

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