Victory State Bank Points To Start-Up-Business Tax Tips From IRS

 

STATEN ISLAND, N.Y. – If you’re planning on opening a new business this summer, Victory State Bank suggests you review the Internal Revenue Service’s tax tips for new owners.

How you structure your business impacts your tax bill.  It is important to understand your taxes and explore your options.  

The IRS provides resources and tax tips that every small business owner should know:

Decide The Business Entity Your Going To Establish.The type of business entity will determine which tax form you have to file. The most common types of business are the sole proprietorship, partnership, corporation and S corporation.

Your Business Determines What Taxes You Must Pay And How You Pay Them. The four general types of business taxes are income tax, self-employment tax, employment tax and excise tax. READ MORE …

 

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

 

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