You Need a Team to Grow Your Business

You can’t do it all alone. When you look at the success of any individual or business, you quickly realize that they didn’t get there alone. They had help.

That help came in the form of accounting, sales, IT or any other areas that are important in running a business.

Many times, solo entrepreneurs start off on their own and keep it that way. And that strategy can work well for awhile. However, eventually they’ll hit a ceiling.

How does this occur? There are but so many hours in the day and but so many things they can be doing at one time. That’s where the team comes in. And with that team, comes a much better chance at success.

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An Excerpt from TaxAssurances’ Book for Small Business

sales-taxAlong with worrying about paying federal, state and local taxes, many business owners have to worry about paying sales taxes on the products and services they offer to the public. Sales taxes are a tax on the retail sales of certain tangible personal property and services.

Potential and new business owners should reach out to their state and local revenue departments to see if the business they are starting is responsible for collecting, reporting and paying sales taxes to them. Along with those requirements, they can also find out what the tax rate is that they need to collect.

In the state of New York, the sellers of the following goods and services need to worry about paying sales tax. Again, potential business owners should check with their state and local revenue departments to find out if they are responsible for accepting, reporting and paying sales taxes.

• Tangible personal property (unless specifically exempt);
• Gas, electricity, refrigeration and steam, and telephone service;
• Selected services;
• Food and beverages sold by restaurants, taverns, and caterers;
• Hotel occupancy; and
• Certain admission charges and dues.

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