Analyse why meeting your tax obligations may be important to you as a young entrepreneur
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Subject:
CBSE BOARD XII -
Author:
washington -
Created:
1 year ago
Answers 2
Answer:
Meeting one's Tax Obligations helps to prevent one from having to pay penalties and or additional tax due to a default. As a young entrepreneur, defaulting on tax payments may erode the bottom line of the business.
A regular taxpayer is likely to be considered for government incentives such as grants and low-interest loans.
A reliable tax record also gives an entrepreneur credits on their health insurance.
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Author:
amarimdej
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Rate an answer:
10
Answer:
As a young entrepreneur filling and paying taxes on a timely basis in essential. In case of missing the due dates, not filling and paying taxes before the deadline can lead to heavy penalties and interset which can heavily impact your business and responding to claims can consume our valuable time which should be spent on growth of your business. In case when we believe there is not tax due we should still file the return.
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Author:
asarc7u
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