Taxes and Employees

There are a jumble of tax rules and regulations that every small business owner must contend with. The following questions address the most basic tax issues:

Have you established what your fiscal year will be for tax purposes?

Yes

No

Do you need a federal employer tax identification number?

Yes

No

Don't Know

Done

Do you know all the types of taxes you will have to pay?

Yes

No

Growing your business usually means hiring employees. If you plan on expanding, answer the following questions:

How many employees do you have, including yourself?

How many employees do you expect to have in:

1 year
3 years
5 years

Are you following provincial and federal employee regulations?

Yes

No

Don't Know

Do you need worker's compensation insurance?

Yes

No

Don't Know

Done