The IRS offers a website for small business and the self-employed. The Small Business and Self – Employed Tax Center is a tax resource center for small business and the self – employed. It serves taxpayers who file form 1040, Schedules C, E, F, or Form 2106 as well as small businesses with assets under $10 million.
The website literally covers small business topics from A-Z. On the website you will find links to small business forms and publications, How to apply for Employer ID numbers, Starting, operating and closing a business – important tax information related to the various stages of owning a business. What payroll tax forms to file. What employment taxes are paid, the difference between Independent Contractors and Employees and tax form filing requirements.
There are links to tools and educational products, An IRS video portal which has various webinars and audio presentations for small businesses ,individuals and a workshop and event portal and even a desktop calendar tool to remind you of various tax due dates.
Need to know how to recognize or report taxes scams or avoid abusive tax schemes; the IRS has a link on the SB/SE tax center.
The small business and self – employed tax center is a good resource for those just starting a business too. The IRS website covers such topics as is it a business or a hobby, selecting a Business Structure and a checklist for starting a business.
Once a new business owner formularizes themselves with the IRS requirements for new business, it would be a good idea to contact us to review what you learned and answer any question you may have. Since the IRS SB/SE tax center focus is only Federal taxes, we can shed light on other areas not addressed on the small business website such as insurance, capital needs and any state and city requirements.