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Under GST (Goods and Services Tax), the end consumer ultimately bears the tax burden. Businesses collect and remit GST to the government but can claim input tax credits to avoid double taxation.

To grow your business, focus on customer retention, digital marketing (SEO/social media), and strategic partnerships. Optimize operations, expand your product line, and leverage data analytics for informed decisions. Consistency and innovation drive success.

Yes, the Amish pay taxes, including income, property, and sales taxes. They are exempt from Social Security taxes due to religious objections but don’t receive benefits.

To file taxes: Gather income documents (W-2, 1099s). Choose filing method (online, software, or paper). Deduct eligible expenses. Submit to IRS by April 15. Pay or await refund.

Great free accounting software for small businesses—easy invoicing, expense tracking, and basic reports. Lacks advanced features like inventory or payroll (paid add-on). Ideal for solopreneurs and freelancers.

The accounting equation is: Assets = Liabilities + Owner’s Equity It ensures a company’s balance sheet stays balanced, showing that resources (assets) are funded by debts (liabilities) and owner investments (equity).