Identification should include
- tax-related responsibilities
- compiling tax receipts and forms throughout the year
- filing tax returns
- collecting sales tax
- completing tax forms
- different types of taxes applicable to the entrepreneur
- sales
- payroll
- income
- self-employment
- industry
- local.
Process/Skill Questions:
- What are the purposes of various taxes incurred by businesses?
- What are the different types of payroll taxes?
- Why is it important to have knowledge of all tax requirements before start-up?
- What resources are available to assist an entrepreneur with tax responsibilities?
- Should all entrepreneurs hire a tax accountant? Why, or why not?
- What taxes must businesses pay?
- Why should entrepreneurs keep accurate bank, payroll, and tax records?