Navigating Business Taxes and Payroll: Expert Tips with Charles Read

Description

Summary

In this episode, Javier Jarena interviews Charles Read, a financial expert, about taxes and payroll for business owners. They discuss the importance of responding to IRS notices, avoiding employment tax penalties, and choosing the right business entity. Charles provides tips for achieving tax compliance and growing a business. The conversation emphasizes the need for business owners to take action, seek professional advice, and stay informed about tax regulations.

Keywords

taxes, IRS, business owners, payroll, employment tax penalties, business entity, tax compliance, growing a business

Takeaways

Always respond to IRS notices and never ignore them.

Avoid employment tax penalties by correctly classifying employees and contractors.

Know the tax regulations and deadlines for your business.

Consider outsourcing payroll to ensure compliance and save time.

Choose the right business entity based on your needs and goals.

Take steps to grow your business, such as delegating tasks and seeking professional advice.

Titles

Choosing the Right Business Entity

The Benefits of Outsourcing Payroll

Sound Bites

"Don't ever give up. Never, never, never give up."

"Make sure all your numbers are correct. The largest source of penalties from the Internal Revenue Service is arithmetic errors."

"Outsourcing payroll can save time and ensure compliance."

Chapters