In this episode, I explain what you need to know about taxes for location-independent businesses from a legal standpoint. Whether you’re running a location-independent or virtual business, or you have locations or customers in other states, one fact remains the same, your business has to pay taxes!
In this episode I cover:
- The different types of taxes your business may have to pay
- What you need to prepare for if you sell to customers in a state outside the state where your business is registered
- Registering in other states where you have employees or customers
- The consequences you could face if you don’t pay your taxes
- Some free resources to help
Key takeaway: No matter which state your 6-7 figure+ location-independent business calls home, you have to pay taxes. Make sure you’re not at risk for a potentially costly audit by seeking the advice of a professional.
Resources mentioned: Small Business Administration
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This podcast is information, not legal advice specific to your situation.