• The IRS allows small businesses to take many deductions, so long as they are "ordinary" and "necessary."
  
  
• Always pay payroll taxes in full and on time; the penalties for failing to do so can be hefty.
  
  
• Different business entities are taxed differently.  Become informed about the tax requirements for your business structure.
  
  
• Insurance is a key strategy to protect your business and your family.  Be sure you have adequate coverage for your situation.

Click here for links to online small business tax and insurance resources.
Click here to find training providers in your area that can teach you more about business taxes and insurance.