INFORMATION ABOUT SMALL BUSINESS FEDERAL TAX RESPONSIBILITIES
WHAT BUSINESS OWNERS NEED TO KNOW
As a business owner, you need to know
your federal tax responsibilities. In addition to knowing about
federal taxes, you need to make some basic business decisions.
Understanding and complying with tax requirements is a necessary
aspect of doing business.
SMALL
BUSINESS AND SELF-EMPLOYED ONE-STOP RESOURCE
http://www.irs.gov/businesses/small/index.html
Look for information by business
topics using the alphabetical listing, or by business type such as
sole proprietor or corporation. There are also links to major
business subjects, such as Business Expenses, as well as a gateway
to all related information on that subject.
TAX HELP
FOR SMALL BUSINESSES AND THE SELF-EMPLOYED
If you are starting or already have a
small business and need information on taxes, help is available in
the form of media products and services.
The IRS tax information for
businesses
Web site provides extensive tax
information and online tools and resources especially for
businesses.
http://www.irs.gov/businesses/index.html
The IRS offers many educational
products that you can view or order online, at your convenience,
night or day.
Subscribe
to e-News for Small Businesses
The Small Business/Self-Employed
Division has a free electronic mail service designed to provide tax
information for small business owners. Sign-up for the Small
Business/Self-Employed mailing list and you will receive information
about important upcoming tax dates, what's new on the IRS Web site,
recently added tax forms and publications, IRS News Releases and
special IRS announcements.
http://www.irs.gov/businesses/small/content/0,,id=154826,00.html
The IRS offers a number of
other free subscription services as well. You can subscribe to these
services at:
http://www.irs.gov/taxpros/article/0,,id=99120,00.html
SMALL BUSINESS RESOURCES
These are just a few of the many
government websites with business information.
Small Business Administration
The SBA’s Small Business Planner includes information and resources
that will help you at any stage of the business lifecycle.
Social Security Administration
Visit Business Services Online; a suite of applications enabling
organizations and authorized individuals to conduct business with
the Social Security Administration. This includes filing Forms W-2
electronically for free.
U.S. Department of Labor
The Employers’ page provides information on Wages and Work Hours,
Workplace Safety and Health, and Retirement and Health Benefits.
State Links
This IRS.gov link will allow
you to connect to your state’s website for small business
information.
Department of Agriculture - Office of
Small & Disadvantaged Business Utilization
The Mission of this office is to provide maximum opportunities for
small businesses to participate in USDA contracting activities.
Business.gov
the official business link to the U.S. Government, is managed by the
U.S. Small Business Administration (SBA)
in a
partnership with 21 other federal
agencies
FirstGov.gov
and
FirstGov En Espaņol
As the U.S. government's official web portal, FirstGov.gov makes it
easy for the public to get U.S. government information and services
on the web. FirstGov.gov also serves as the catalyst for a growing
electronic government.
ADDITIONAL IRS RESOURCES
You can select and download
multiple small business and self-employed forms and publications at
IRS.gov or you can call 1-800-829-3676 to
order forms and publications through the mail at no cost.
Access IRS forms or publications at
http://www.irs.gov/formspubs/index.html
Publication 1066C, A Virtual Small Business Tax Workshop DVD
is a new educational product
that helps small business owners and the self-employed understand
and meet their federal tax obligations. The workshop is subtitled in
English, Spanish and Mandarin Chinese. You can also view this
workshop
online.
Publication 3207, 2006 Small Business Resource Guide CD-ROM
is an interactive CD designed to help small business
owners comply with the tax laws and includes business tax forms,
instructions and publications. In addition to providing a wealth of
tax-related information, the CD contains Web links to various
government agencies, business associations and IRS organizations.
Publication 1518, Small Businesses and
Self-Employed Tax Calendar
highlights different tax issues and tips and has space to add notes,
state tax dates, or business appointments. Updated
online versions
are available on IRS.gov.
IRS PUBLICATIONS
You can select and download
multiple IRS forms and publications at
IRS.gov or you can call 1-800-829-3676 to
order forms and publications through the mail at no cost.
Access IRS forms or publications at
http://www.irs.gov/formspubs/index.html
Pub 334 Tax Guide for Small Business
Pub 463 Travel, Entertainment, Gift,
and Car Expenses
Pub 531 Reporting Tip Income
Pub 535 Business Expenses
Pub 583 Starting a Business and
Keeping Records
Pub 587 Business Use of Your Home
Pub 946 How to Depreciate Property
Pub 1872 Tips on Tips: A Guide to Tip
Income Reporting
Pub 3780 Tax Information for Small
Construction Businesses
Pub 3995 Recognizing Illegal Tax
Avoidance Schemes
Pub 4132 Pay Taxes Online! "Easy
As1-2-3"
Pub 1779 Independent Contractor or
Employee
Pub 4035 Home-Based Business Tax
Avoidance Scheme
IRS WEB RESOURCES FOR BUSINESSES
OVERVIEW
Starting, Operating or Closing a Business
Whether
you are a budding entrepreneur, or an established business owner,
you will find everything you need to start and manage your business
venture.
http://www.irs.gov/businesses/small/article/0,,id=110417,00.html
Business Taxes
The form of
business you operate determines what taxes you must pay and how you
pay them.
http://www.irs.gov/businesses/small/article/0,,id=98966,00.html
GETTING
STARTED
Tax Information for Businesses
If you run a
small business or are self-employed, the IRS web site offers a wide
variety of information to help you.
http://www.irs.gov/businesses/small/index.html
Checklist for Starting a Business
This checklist
provides the basic steps you should follow to start a business.
http://www.irs.gov/businesses/small/article/0,,id=98810,00.html
Business
Structures
When beginning a business, you must decide what structure to use.
Legal and tax considerations enter into this decision.
http://www.irs.gov/businesses/small/article/0,,id=98359,00.html
Employer ID
Numbers (EINs)
An
Employer Identification Number (EIN) is also known as a Federal Tax
Identification Number, and is used to identify a business entity.
Generally, businesses need an EIN.
http://www.irs.gov/businesses/small/article/0,,id=98350,00.html
Online Application - Form SS-4,
Employer Identification Number (EIN)Apply
online for the Employer Identification Number (EIN), also known as a
Federal Tax Identification Number.
http://www.irs.gov/businesses/small/article/0,,id=102767,00.html
IRS FORMS
AND PUBLICATIONS
Forms and Publications
Need
an IRS form or publication?
http://www.irs.gov/formspubs/index.html
Electronic Filing
e-file
for Business and Self-Employed Taxpayers
The IRS
offers several electronic filing options designed specifically for
the business filer. There are several ways you may choose to
participate in the IRS e-file for Business programs.
http://www.irs.gov/efile/article/0,,id=118520,00.html
Electronic Federal Tax Payments
(EFTPS)
Businesses and
individuals can use the Electronic Federal Tax Payment System to pay
all their federal taxes electronically, 24 hours a day, 7 days a
week, via the phone, personal computer (PC) software or the
Internet. Visit the EFTPS web site for all the latest information!
Or visit the Department of Treasury’s Financial Management Services
web page on EFTPS.
http://www.eftps.gov/
QuickAlerts "More" e-file Benefits for EROs
Get on board and be one of the thousands of tax professionals that
currently receive information on “up-to-the-minute”
e-file
events.
http://www.irs.gov/taxpros/providers/article/0,,id=97623,00.html
EMPLOYEES
Businesses with Employees
Information about hiring, recordkeeping, and other topics for
business owners with employees.
http://www.irs.gov/businesses/small/article/0,,id=98862,00.html
Independent Contractors vs. Employees
Before you can determine how to treat payments you make for
services, you must first know the business relationship that exists
between you and the person performing the services.
http://www.irs.gov/businesses/small/article/0,,id=99921,00.html
Employment Taxes for Small Business
If you have employees, you are responsible for Federal Income Tax
Withholding, Social Security and Medicare taxes and Federal
Unemployment Tax Act (FUTA)http://www.irs.gov/businesses/small/article/0,,id=172179,00.html
IRS
Withholding Calculator
This easy-to-use calculator can help you figure your employees’
Federal Income Tax Withholding so you can withhold the correct
amount from their pay.
http://www.irs.gov/individuals/article/0,,id=96196,00.html
Retirement Plans for Small Businesses
Are you looking for information on employee retirement plans in
order to provide better service to all your employees?
http://www.irs.gov/retirement/content/0,,id=97203,00.html
Earned
Income Tax Credit (ETIC)
Would you like
to help your employees increase their take–home pay at no cost to
you?
You can do this by giving your eligible employees part of the Earned
Income Tax Credit (EITC) with their pay, and by subtracting the
payments you make from payroll taxes. This is possible through the
Advance Earned Income Credit (AEITC) program.
http://www.irs.gov/individuals/article/0,,id=96406,00.html
TALK WITH
THE IRS
Contact My Local Office
IRS Taxpayer Assistance Centers are your one-stop resource for
face-to-face tax help and solutions to tax problems, every business
day.
http://www.irs.gov/localcontacts/index.html
Taxpayer Advocate Service
The Taxpayer Advocate is an independent organization within the
IRS. They help taxpayers resolve problems with the IRS and
recommend changes that will prevent the problems.
http://www.irs.gov/advocate/index.html
LEARNING CENTER
On-Line Classroom
View a
streaming video of an IRS Small Business Workshop, take an IRS
course or complete an online self-directed version of a workshop
taught live around the country.
http://www.irs.gov/businesses/small/article/0,,id=97726,00.html
Small
Business Tax Workshops
Throughout the country various non-profit and government
organizations offer small business workshops.
http://www.irs.gov/businesses/small/article/0,,id=99202,00.html
RESOURCES
Small Business Resources
This section
offers links to a broad range of resources across federal and state
agencies.
http://www.irs.gov/businesses/small/content/0,,id=98864,00.html
Small
Business Products Online Ordering
Looking for a tool to help you meet your tax requirements? Choose
from our free products, developed especially for the Small
Business/Self-Employed person, and obtain updated information on
existing products.
http://www.irs.gov/businesses/small/article/0,,id=101169,00.html
ABUSIVE
TAX SCHEMES
Tax Scams - How to Recognize and Avoid Them
To help
the public recognize and avoid abusive tax schemes, the IRS offers
an abundance of educational materials. Participating in illegal
schemes to avoid paying taxes can result in imprisonment and fines,
as well as the repayment of taxes owed with penalties and interest.
Education is the best way to avoid the pitfalls of these "too good
to be true" tax scams.
http://www.irs.gov/businesses/small/article/0,,id=106788,00.html
RESOURCES FOR
SPECIFIC COMMUNITIES
Industries/Professions
Specific tax information for Agriculture, Automotive, Construction,
Entertainment, Fishing, Gas Retailers, Manufacturing, Real Estate,
Restaurants, Tax Professionals, and other industries.
http://www.irs.gov/businesses/small/industries/index.html
Tax Information for International
Businesses
This section
provides information on international taxes.
http://www.irs.gov/businesses/international/index.html
Tax Information for Tax
Professionals
This section
provides information for tax practitioners and other tax
professionals.
http://www.irs.gov/taxpros/index.html
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