IRS Small Business Resources:

This online course summarizes IRS resources for small business owners using the following media: (1) On the web at IRS.gov, (2) Tax Publications, (3) Videos and (4) Social Media. It also provides specific resource information for the Recordkeeping and Understanding Gross Business Receipts issues. This is a self-paced course that is delivered via an electronic file that describes and links to various IRS resources.

IRS RESOURCES FOR SMALL BUSINESS OWNERS

Small business owners, especially new sole proprietors, can find a wealth of information covering their federal tax responsibilities on www.IRS.gov.
The SB/SE Tax Center is the “Go To” IRS.gov page for everything small business.

Online at IRS.gov:

• Tax Calendar for Small Businesses and Self-Employed
• Online Learning and Educational Products – Links to IRS virtual small business tax workshop, tax calendar for small business, SBA small business training, and more.
• Small Business Tax Workshops, Meetings, and Seminars

• Starting a Business

  This page includes links to basic federal tax information for people starting a business, as well as information to assist in making basic business decisions. Links include:

  State Links – State websites with info on doing business in that state

  Subpages include:

  • Is it a Business or a Hobby?
  • Selecting a Business Structure
  • Employer Identification Number (EIN)
  • Business Taxes
  • Recordkeeping
  • When Do I Start My Tax Year?
  • Checklist for Starting a Business
  • Types of Retirement Plans
  • Small Business Publications

 

​Operating a Business:

This page includes links to an extensive set of subpages on many topics including, but not limited to:

• What is Taxable and Nontaxable Income
• Business Expenses
• Filing and Paying Your Business Taxes
• Estimated Taxes
• Employment Taxes for Small Businesses

Publications:

• Publication 583 , Starting a Business and Keeping Records
• Publication 334 – Tax Guide for Small Business
• Farm Business Expenses section of Publication 225, Farmer's Tax Guide
• Publication 4591, Small Business Federal Tax Responsibilities

Videos:

The IRS Video Portal at www.irsvideos.gov is an online learning site for taxpayers. Small business owners should choose the Small Businesses tab, select a topic (e.g. “Starting a Business” or “Business Income”) and then select any video. Small Business Owners should check out the Small Business Taxes The Virtual Workshop, an informative recorded seminar composed of nine interactive lessons designed to help new small business owners learn their tax rights and responsibilities.

YouTube: Find out what tax credits, deductions and law changes may affect your small business. Index to all IRS videos on YouTube.

MEDIA

Subscribe to e-News for Small Business: e-News for Small Businesses is a free electronic mail service designed to provide tax information for small business owners and self-employed individuals.

Get the latest news and information from the IRS on:

• Facebook
• Twitter
• Tumblr

Finding Professional Advice: Ten Tips to Help You Choose a Tax Preparer and Tips for Choosing a Tax Preparer

RECORDKEEPING

Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of receipts, keep track of deductible expenses, prepare your tax returns, and support items reported on tax returns.

Online at IRS.gov:

• Recordkeeping

  Includes the following subpages on the what, why, and how of recordkeeping.

  • Why should I keep records?
  • What kinds of records should I keep?
  • How long should I keep records?
  • How long should I keep employment tax records?
  • How should I record my business transactions?
  • What is the burden of proof?
  • Use of Electronic Accounting Software Records; Frequently Asked Questions and Answers