NEW YORK—Now that the new year is here, small business owners may find themselves trying to understand changes brought about by federal and state laws. Here are three things owners need to know for 2019:
Owners who didn't do year-end tax planning may want to consider getting an extension of the filing deadline for their returns to give themselves breathing room. You can learn more about the new tax law and how to get an extension on the IRS website, www.irs.gov.
Retailers can use software or services to help them collect tax, submit it to state tax authorities and compile required returns. The software is likely compatible with a retailer's e-commerce system. Search online for more information.