Business + tax confusion as a beginner

One thing I didn’t expect when thinking about business is how quickly taxes become part of the conversation, I’m still trying to understand the basics so I don’t make mistakes later.Any simple advice for beginners?

Danielcross said:

One thing I didn’t expect when thinking about business is how quickly taxes become part of the conversation, I’m still trying to understand the basics so I don’t make mistakes later.Any simple advice for beginners?

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Hit up a local accountant and let them know what your business is all about.

They will help you set up everything as it should be in your locale.

Ask a local accountant for tax advice in your situation don't look online for tax advice .

* If you want less headache: hire CPA and bookeeping
* keep all your transactions
* do not treat your business bank into your personal bank

Unfortunately, it varies so much from country to country—and sometimes even from state to state (in federal countries)—that it’s a bit tricky to give you any useful advice other than “consult a tax professional.”
I’ll give it a shot anyway
1/ Check to see if there are any official tax and social security contribution calculators. That’s the case in my country, precisely because it’s complicated.
2/ If you have an official calculator, take the figure (for example, 30%) and add a few percentage points to build yourself a cash reserve.
3/ In my country, we have chambers of commerce and industry that offer free advice to entrepreneurs. See if something like that exists where you live.
My final piece of advice on the subject:
Take your monthly revenue, divide it into three parts: one part for taxes, one part for your emergency fund, and one part for you.