Pop Quiz

Scoring:


  • 0 to 7 right: You need help with the basics, according to Lauletta and Jacksack. "Consider taking one of the tax training courses the IRS offers," says Jacksack. (Call your local IRS office, and ask for information about a course near you.) The pair also suggests following up the course with one or more tax-planning sessions with your accountant for specific advice about your company.


  • 8 to 14 right: "You're on the right track," says Lauletta, "but you may need more information to operate your business as tax-effectively as possible." His suggestion: Read at least one book on taxes for small-business owners, and keep up to speed by subscribing to business periodicals or visiting tax-related Web sites.


  • 15 to 18 right: "Anyone in this range knows quite a bit about business taxes," says Jacksack, "but could still benefit from periodic updates on annual changes."


  • 19 to 20 right: "Outstanding!" Lauletta and Jacksack say. Have you considered becoming an accountant?

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This article was originally published in the October 1996 print edition of Entrepreneur with the headline: Pop Quiz.

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