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Small and medium-sized business (SMB) owners navigate numerous responsibilities, and tax obligations are an essential aspect of managing a successful operation. Although many entrepreneurs view tax season as a challenge, integrating tax planning into an existing financial routine can ease the pressure for SMBs. Understanding small business tax requirements and preparing for tax season year-round can help entrepreneurs avoid financial pitfalls — and even take advantage of beneficial tax-saving opportunities.
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Holland King, head of taxes and compliance at nationwide payroll company Gusto, warns, “If you don’t do your taxes correctly,
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