Trust fund taxes in small business vehicular are payroll and sales taxes. Both of these taxes are collected on behalf of the government and are a tax which the employer will be personally liable for even if the business ceases operations. With both taxes the business is acting as an agent for the government and.
When a business is brand new, it is common practice for anyone extending the company credit to ask for the owners to sign a personal guarantee. Banks, Landlords, Suppliers and almost anyone that may extend credit to your company might ask you to sign on the dotted line. It is understandable that creditors want extra.
What happens when a lawsuit has been filed against your company for non-payment of an outstanding bill? The quick answer is that you waited too long and that it would have been best to have addressed the issue prior to providing your vendor/supplier with a reason to pursue litigation. If you have indications that your.
Many entrepreneurs fail to recognize the importance of keeping a good set of books and records. An orderly set of books and records is normally associated with preparing the company’s Year End tax returns, sales tax returns, and numerous other forms a company must complete to be in compliance with the growing set of government.
What are the Early Warning Signs that Your Business is in Trouble and What Steps Should be taken to stop the Bleeding? The above statement what are the Early Warning Signs that your business is in trouble seems to be an obvious statement. Most business owner’s Especially Small ones believe the moment sales decrease and.