How do I file taxes as a small business?
An example of an AI chatbot conversation about filing taxes for small businesses.
How do I file taxes as a small business?
Filing taxes as a small business involves several steps. First, you need to determine your business structure, as this affects your tax obligations. Are you a sole proprietor, LLC, or corporation?
I'm a sole proprietor. What forms do I need?
As a sole proprietor, you'll typically need to file a Schedule C along with your personal tax return (Form 1040). You may also need to pay self-employment tax using Schedule SE.
What deductions can I claim?
You can claim various deductions, including business expenses like office supplies, travel, and home office expenses. It's important to keep detailed records.
When is the deadline for filing?
The deadline for filing your taxes as a sole proprietor is usually April 15th. However, if you need more time, you can file for an extension.
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