Small Business Federal Tax Responsibilities

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.

Information is available online from the Internal Revenue Service new window. 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 website new window provides extensive tax information and online tools and resources especially for businesses.

The IRS offers many educational products that you can view or order online, at your convenience, night or day.

The IRS 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 new window 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.

IRS Online Resources

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 new window

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.

IRS Publications

You can select and download multiple IRS forms and publications online new windowor you can call 1-800-829-3676 to order publications through the mail at no cost. Some of the available forms include:

  • 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

 

Small Business Resources

Small Business Administration new window The SBA's Small Business Planner includes information and resources that will help you at any stage of the business lifecycle.

Social Security Administration new window 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 new window The Employers' page provides information on Wages and Work Hours, Workplace Safety and Health, and Retirement and Health Benefits.

State Links new window allows you to connect to individual state IRS websites for small business information.

Department of Agriculture - Office of Small & Disadvantaged Business Utilization new window The Mission of this office is to provide maximum opportunities for small businesses to participate in USDA contracting activities.

Business.gov new window, the official business link to the U.S. Government, is managed by the U.S. Small Business Administration (SBA) new window.

FirstGov.go new windowv and FirstGov En Español new window As the U.S. government's official web portal, FirstGov.gov makes it easy for the public to get US government information and services on the web. FirstGov.gov also serves as the catalyst for a growing elec.