Taxes

For many people, taxes are an unpleasant but necessary evil. But keep in mind that you may qualify for many of the programs that your tax dollars support. This section helps you with every aspect of the taxes you must collect from your customers, including strategies for tax record-keeping.

Getting a Tax Identification Number

You're familiar with paying personal taxes. As a small business owner, you'll need to pay business taxes as well. All businesses are required to pay federal, state, and in some cases, local taxes. Most businesses will need ...
Business Structure and Tax Implications

Determine Your Federal Business Tax Obligations When starting a business, you must decide what form of business entity to establish. Your form of business (e.g., sole proprietorship, partnership, LLC) determines which income tax ...
Small Business Expenses and Tax Deductions

The following article discusses small business expenses in addition to the two tax deductions, business expense deductions and capital expense deductions. Guidance for the Self-Employed and Sole Proprietors There are two basic ...
Employment Taxes for Employers and Self Employed Individuals

Whether you are an employer or self-employed, you are responsible for paying federal, state and local taxes. As an employer with employees, you must withhold certain taxes from your employees' paychecks. Employment taxes ...
Filing and Paying Your Taxes

When some people think of filing and paying their taxes, they panic. Admittedly, the process can be overwhelming. Use the resources below to make filing your federal business taxes easier than ever. Visit the State and Local Tax ...
Managing Your Tax Obligations

As a business owner, you'll need to manage your tax obligations throughout the year. This includes keeping records, setting up accounting procedures, and making regular income tax payments. The resources below explain tax ...
Learn About Your State and Local Tax Obligations

Determine Your State Business Tax Obligations In addition to business taxes required by the federal government, you will have to pay some state and local taxes. Each state and locality has its own tax laws. The ...
Tax Help and Training

Workshops and Programs The U.S. Internal Revenue Service (IRS) offers online, in-person training and workshops to help small business owners understand their tax obligations. IRS Virtual Tax Workshop Helps you prepare, ...
Tax Information for Specific Business Types

Have you considered that your business might have specific taxes for its industry? Some industries, in fact do. The U.S. Internal Revenue Service (IRS) has published the following guides for businesses that have special tax ...
Fact Sheet: Tax Breaks for Small Businesses

America’s entrepreneurs and small business owners continue to grow their businesses and create jobs due to unprecedented tax cuts that have been signed into law over the past two years. This includes billions of dollars in ...