Tips On How To Correct Your 1099 Tax Debt}October 9, 2023
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Submitted by: Angelia Sampson
When referring to the Food Service Industry there is massive levels of competition that you must compete with every day. Rivalry ?involving restaurant entrepreneurs is fierce Is The IRS keeping you from achieving your competitive potential?
Many business owners need to worry about the reporting of cash tips by staff in the restaurant market place. 8 percent of your overall salary to your place of business as tips and the restaurant entrepreneur is mandated by the U.S. government to record it. Even though the U.S. Government requires that you pay the 15.3 % tax for self employment, it doesn’t have to be a hassle. It does not consider that in the next year the IRS will be slowly increasing their attention on small businesses by 30 percent.. It could possibly be as little as 3 months until you are experiencing hostile penalty actions like:
Federal Tax Liens Wage Garnishments Property and Asset Seizure Bank Levies
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