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Prepare for Tax
Dealing with tax can be very stressful for a first-time founder. We cannot tell you how often we run into founders who did not take their tax obligations into consideration at the start (we may have been guilty of this ourselves in the past). This has the potential to create a lot of headaches, and can even mean the end of a business.
Understand your Taxation.
To make sure you won’t get taxed amounts you do not have in the bank account, make sure to read through this guide from the government to help you understand your situation and obligations.
Once you start generating revenue with your business, we strongly recommend getting expert advice to ensure you are paying your taxes right and most importantly that you don’t end up paying too much.
Our friends at OneLedger would love to help you, and let them know we sent you 🙂