Taxes A taxing situation B eing an entrepreneur does not exempt you from paying taxes. Tax laws may be complicated and confusing, but you are responsible for those related to your business. Become familiar with which expenses are deductible. The IRS has free publications which can answer many of your questions. You need documentation of expenses in case you are audited.
Tax laws change from year to year.
An accountant can help you be aware of those changes that affect your business. There is tax help available on the Internet including complete access to the U.S. Tax Code . You can also go directly to the IRS or other tax resources. You will probably be responsible for other taxes besides federal. Depending on the business, there may be sales tax on your products.