Businesses need to declare their taxes in order to receive correct payments and avoid penalties. This includes declaring all taxable income, paying any applicable taxes, and claiming any deductions or credits that may be available. Failure to declare taxes can lead to penalties and interest charges, as well as a possible audit. 

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First and foremost, be sure to keep accurate records of all your income and expenses. This will make the process of filing taxes much smoother. Next, consult with a tax professional to see what filing options are best for your business. 

Here are some tips for business owners on how to declare their taxes:

1. Make a list of your income and expenses for the year. This will help you organize your tax information into appropriate categories.

2. Report all taxable income from your business activities. This includes profits, wages, commissions, bonuses, rental income, capital gains, etc.

3. Pay any applicable taxes. This includes federal, state, and local taxes.

4. Claim any deductions or credits that may be available. This could include personal deductions such as mortgage interest and charitable contributions, as well as business deductions such as depreciation and acquisition costs.

5. Keep records of all your tax information for future reference.