BizSugar.com › Taxes › 5 Things You May not Know about Small Business Taxes

Dealing with taxes is a fact of life for small business owners.
Annual expenditures for taxes for most owners is likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll).
Beyond payments to the government for all of the taxes you pay—income taxes on profits; Social Security, Medicare, and other employment taxes like sales taxes, property taxes, and excise taxes—there are other tax-related costs: your time and effort in record keeping and fees to your tax advisors. So, taxes are a big deal.