"When does a Business Start Paying Taxes?" may sound like a silly question, with an expected answer of: "When you start making a profit, of course." Not necessarily. There are many dependencies that determine when a new small business owner is liable for their first tax payment. For example, the moment you hire your first employee you must deposit payroll taxes. If you are in the consumer retail business, you must deal with sales tax. Then there are federal and state income taxes, which you must pay once a quarter, and so on. Quite the minefield! Here are some tips and resources that can help you navigate you through your tax obligations as a new business owner. Read more...