Description: Donna Cutting Marketing School for Business Enthusiasts
This content shows Simple View
A small business is typically a small business in terms of number of employees and/or revenues. The majority of US companies are small businesses. These companies are usually registered as sole proprietorships, meaning that they are owned by an individual, or as partnerships, meaning that two or more people own the business.
One of the problems small businesses face is related to accounting. Due to limited funds, some of the bookkeeping is done by the business owner. An entrepreneur’s job is to run the business while handling the day-to-day accounting needs of the business. For this reason, companies are often penalized by the government for late payment of taxes, late filing of tax documents, and sometimes late filing of tax returns. In addition, companies can also be penalized for miscalculating taxes. As business owners are