tax compliance: Surfing the cash flow tide
- 08/02/19 10:33 AM
One of the toughest aspects of running a business is surfing the cashflow tide. The tide comes in and the tide goes out. It is so tempting when facing a cash crunch to delay the payment of your tax obligations. It’s the quickest way to dig that proverbial hole to China. There's no loan application or approval process. It's quick and easy, that is until those obligations come due because you've received a collection notice from the IRS. A business must electronically remit their payroll tax obligations through EFTPS. There are significant penalties for not paying on time: 2% within 5 days late 5% from … (1 comments)
One of the toughest aspects of running a business is surfing the cashflow tide. The tide comes in and the tide goes out. It is so tempting when facing a cash crunch to delay the payment of your tax obligations. It’s the quickest way to dig that proverbial hole to China.
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