Six tips for people starting a new business in USA

IRS Tax Tip 2020-124, September 23, 2020

Understanding the tax responsibilities that come with starting a business venture can save taxpayers money and help set them up for success. IRS.gov has the resources and answers to help people through the process of starting a new business.

Here are six tips for new business owners.

Choose a business structure.

The form of business determines which income tax return a business taxpayer needs to file. The most common business structures are:

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