Pronto Tax School, Inc., a company that offers training for tax professionals, has released an eBook detailing the tax traps that business owners fall into.
The company’s new downloadable eBook covers the five critical pitfalls that self-employed individuals commonly face. Both novice and experienced entrepreneurs need to be knowledgeable regarding taxes in order to be successful in their careers.
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The recently released eBook provides invaluable information to help business owners avoid frequently made tax mistakes. The traps that entrepreneurs confront the most include not taking the time to learn about how taxes work, not budgeting for taxes, not having trusted tax advisors, not thinking about taxes until tax season comes around, and using the wrong business structure.
Entrepreneurs need to take responsibility for their own taxes since no one will be as careful with their numbers as they will. Tax professionals may have thousands of clients and it can be tricky for them to keep up with every single change the business owner is making on their end. The book includes several resources that will help entrepreneurs familiarize themselves with taxes more.
Pronto Tax School, Inc. informs that to accurately budget for taxes, the individual must create an optimized Profit and Loss Statement that considers items that have the possibility to affect their tax liability but would not normally appear in a regular statement.
The eBook also mentions not having trusted tax advisors can cost the entrepreneur thousands of dollars. It is very easy to make mistakes when doing one’s own taxes and that can lead to costly penalties and interest in the long run. Lastly, business owners may have a business structure that is hurting them financially since it can cause them to spend more on taxes than necessary.
Pronto Tax School, Inc. is an approved education provider with the California Tax Education Council (CTEC), the Internal Service Revenue (IRS), and the National Association of State Boards of Accountancy (NASBA).
A spokesperson for the company said: “No entrepreneur can avoid knowing about taxes. And no successful entrepreneur can be successful without knowing them well. Read this brief eBook to avoid the most dangerous pitfalls.”
Interested parties can find more information by visiting https://prontotaxschool.com
Name: Andy Frye
Email: Send Email
Organization: Pronto Tax School, Inc.
Address: 4501 South Centinela Avenue, Los Angeles, CA 90066, United States
Release ID: 89046576