Podcast S3E48 – FB Live 60 – Building your virtual team, part 3: Taxes
In this week’s episode of the Legal Road Map® podcast, I talk about what you need to know about taxes for a virtual or location-independent businesses from a legal standpoint. Whether you’re running an online business, or you have locations or customers in other states, one fact remains the same, your business has to pay taxes!
In this week’s Facebook Live video and podcast episode I cover:
– The different types of taxes your business may have to pay (so you can make sure you don’t miss one!)
– What you need to prepare for if you sell to customers in a state outside the state where your business is registered
– Paying taxes in other states where you have employees or customers
– The consequences you could face if you don’t pay your taxes
– Free resources to help figure out what taxes your business needs to pay
Key takeaway: No matter which state your business calls home, you have to pay taxes, and it may be in more than one state if you’re selling or have employees or contractors in other states. Make sure you’re not at risk for a potentially costly audit by seeking the advice of a professional.