Government Contractor’s Business Taxes: Five Essential Truths You Can’t Afford to Ignore
Recent world-wide events have rocked the business world, causing many to adapt and revamp their operations. With remote work and multi-state operations becoming the norm, it’s opened up a whole new can of worms for business owners: taxes.
That’s right, as business owners many of you are navigating uncharted territory, needing to file and pay taxes in states you never even thought of before. In addition, government contractors may have additional tax implications to consider. Depending on the specifics of your contract(s), the location of your business and employees, you may need to file and pay taxes in multiple states.
So, the question remains, if you’re a business owner venturing into multi-state operations, what are five essential points you should be aware of to navigate this new territory effectively?
Ensuring Multijurisdictional Compliance for GovCons in a Remote Work Era
One of the biggest benefits of a remote workforce is tapping into talent nationwide that companies would otherwise not be able to reach. Driven by the COVID-19 pandemic, many government contractors (GovCons) adjusted to this new reality of a remote workforce. Remote work can provide flexibility and cost savings, but it also poses unique challenges for GovCon accounting.
Operating in a multijurisdictional environment requires compliance with multiple layers of regulation, including varying laws and regulations at the federal, state, and local levels. To manage compliance effectively in this new reality, GovCons need a practical and tactical approach that considers these unique challenges. So how do you get started?
There’s a Fiesta in the Forecast on September 13!
The Federal Fiscal Year-End is upon us! Time to celebrate with teaming partners in a causal setting with food and drinks.
Join BOOST & govmates for targeted networking with your fellow government contractors. Attendees include govies, large system integrators, mid-tiers, and small non-traditionals.
Come for the networking, leave with revenue opportunities.
Please note: This event is for government contracts and Fiesta sponsors only.
We Are Hiring!
Please click the link below to explore our current career opportunities:
BOOST LLC specializes in anything relevant to GovCon back-office services, including managed GovCon accounting, GovCon recruiting or strategic pricing, ensuring compliance, efficiency, and profitability in the complex world of government contracting. By partnering with BOOST, you can be confident that our dedicated team of experts will assist you. Contact BOOST today: https://boostllc.net/consultation/