Everyday I learn something new about being an entrepreneur. This life isn’t for the faint of heart (as you can see with the above picture). There was real terror on my face when I woke up in the middle of the night. The only time I want to deal with the IRS is when I’m paying my quarterly taxes or when they are issuing me a refund in April.
If you are a small business owner and don’t know what an annual franchise tax report is, don’t feel bad because no one mentions it when you want to start a business. It is easy to find out about on Google. Make friends with your state controllers office, and find someone that can help you.
Don’t you find it odd that this information is missing from all the books based on running a business? It’s like you are being set up for failure. Its hard that young businesses are given bare minimum information, but they’re expected to be the lead in their district. If you are need help with your business, I now offer small business consulting to help you navigate. Find out more about ICB Consulting here.