Common use of Business Owners Clause in Contracts

Business Owners. When a self-employed taxpayer reduces taxable income through tax deductions there is also a reduction in earned income reported to the Social Security Administration, which could reduce current and future benefits for the taxpayer and his or her dependents. You acknowledge and agree to the current tax reduction and acknowledge and agree to the potential negative effects on future social security benefits for you, your spouse, and any dependents. Additionally, new state laws regarding the collection of sales taxes by online sellers require separate registration, collection, filing and payment with many states at very low activity levels. We were not engaged to nor did we determine whether individual state sales tax rules apply to your business. Determination of whether an individual state's sales tax rules apply to your activity are your responsibility unless we have a SEPARATE written engagement letter acknowledging our responsibility to determine or apply sales tax rules for an individual state. Failure to register and file with an appropriate state may expose you to severe penalties.

Business Owners. When a self-employed taxpayer reduces taxable income through tax deductions deductions, there is also a reduction in earned income reported to the Social Security Administration, which could reduce current and future benefits for the taxpayer and his or her dependents. You acknowledge and agree to the potential negative effects of current tax reduction and acknowledge and agree to the potential negative effects on future social security benefits for you, your spouse, and any dependents. Additionally, new state laws regarding the collection of sales taxes by online sellers require separate registration, collection, filing and payment with many states at very low activity levels. We were not engaged to to, nor did we determine whether individual state sales tax rules apply to your business. Determination of whether an individual state's ’s sales tax rules apply to your activity are your responsibility unless we have a SEPARATE written engagement letter acknowledging our responsibility to determine or apply sales tax rules for an individual state. Failure to register and file with an appropriate state may expose you to severe penalties.

Business Owners. When a self-employed taxpayer reduces taxable income through tax deductions there is also a reduction in earned income reported to the Social Security Administration, which could reduce current and future benefits for the taxpayer and his or her dependents. You acknowledge and agree to the current tax reduction and also acknowledge and agree to the potential negative effects on future social security benefits for you, your spouse, spouse and any dependents. Additionally, new state laws regarding the collection of sales taxes tax by online sellers and may require separate registration, collection, filing and payment with many states at very low activity levels. We were not engaged to to, nor did we we. determine whether individual state sales tax rules apply to your business. Determination of whether an individual state's ’s sales tax rules apply to your activity are your responsibility unless we have a SEPARATE written engagement letter acknowledging our responsibility to determine or apply sales tax rules for an individual state. Failure to register and file with an appropriate state may expose you to severe penalties.