As we learned in Part 1, the structure of your business will impact the taxes that are owed. On top of that, business taxes are quite different from personal taxes and follow a more diligent payment schedule. This article provides an overview of the various tax categories that your business may owe and their due dates to help you stay on track with tax deadlines.

Begin planning and preparing for taxes on day 1 of your business to avoid trouble with the IRS. Get started by viewing this informative guide from the Arkansas Department of Finance and Administration, Starting a New Business in Arkansas.

Managing taxes, easy right? As a business owner, taxes can become a wholly different maze when compared to personal taxes. The type of entity that you structure for your company, as well as the hiring of employees, will affect the paperwork you need to file and the type of taxes owed. Before you accelerate the day-to-day operations of your business, take a few moments to contemplate the unique tax entity being created by your business.

Did you know that the third Wednesday in October is national Support Your Local Chamber of Commerce Day? There are over 140 local Chambers of Commerce in Arkansas and much of their focus is to foster and encourage growth of existing and new businesses in their communities. Eight percent of small businesses fail because of lack of networking and local Chambers are a major avenue for increasing a network.

Whether you’re starting a new business, expanding or needing to purchase assets, securing funding can be an intimidating challenge for entrepreneurs. Fortunately, you don’t have to face the challenge alone. Your banker can be a valuable resource to help you identify the funding solution that best fits your unique circumstance.