Business Tax Essentials: Updates and Guidelines
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PJ Pronger
Texas Tech University
Northwest Texas SBDC
29 Year History
9,289 Business Starts
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Developing your
business is as
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developing your
technology.
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Legal Formation
SBIR/STTR Specific Steps
Ongoing Maintenance
Bookkeeping
Taxes & Reports
Legal Requirements
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Choose legal form
File with proper authority
Obtain EIN**
Create internal docs
Bylaws or Company Agreement
Open a Bank Account**
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Bookkeeping
Minutes & records
Taxes and/or Reports
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Use a consistent email address
Keep accurate financial records
Allocate resources for maintenance
Use an attorney
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Adrien Bennings, Ph.D. M.B.A.
adrien.bennings@ttu.edu
PJ Pronger
pj@nwtsbdc.org
In this webinar presented by Dorothy Smith from SCORE, key topics include business tax updates, filing requirements, deadlines, IRS definitions of expenses, and more. Gain insights into Federal and State tax obligations, common deductions, and recordkeeping rules essential for business owners. Be informed about the IRS shutdown for Tax Filing Season and understand what qualifies as deductible business expenses. Stay ahead of tax changes and ensure compliance for your business.
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Presentation Transcript
Business Formation & Maintenance PJ Pronger Texas Tech University Northwest Texas SBDC
29 Year History 9,289 Business Starts
The Business Side Developing your business is as essential as developing your technology.
The Processes Legal Formation SBIR/STTR Specific Steps Ongoing Maintenance Bookkeeping Taxes & Reports Legal Requirements
Legal Formation Choose legal form File with proper authority Obtain EIN** Create internal docs Bylaws or Company Agreement Open a Bank Account**
SBIR/STTR Specific NIH NSF DUNS number*** SAM Registration x 2 SBA Registration Grants.gov eRA Commons FastLane x 2
Ongoing Maintenance Bookkeeping Minutes & records Taxes and/or Reports
Recommendations Use a consistent email address Keep accurate financial records Allocate resources for maintenance Use an attorney
Contacts 806-745-3973 Adrien Bennings, Ph.D. M.B.A. adrien.bennings@ttu.edu PJ Pronger pj@nwtsbdc.org
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