Hi, I’m Patrick, and I work for IRS.
If you’re a longtime business owner, or just thinking about starting a new venture and working for yourself, you should know about the IRS Small Business and Self-Employed Tax Center. This online tool is your one-stop resource to help you learn about the tax issues involved in owning your own business. To access the site, visit irs.gov/smallbiz, with a “z.”
Here you’ll find information organized in six categories for every phase of your business. For example, you’ll find topics on selecting a business structure, differentiating between a business and a hobby, and even a checklist for starting your business.
You can click on the “A-to-Z Index for Business” for an alphabetized list of more than 450 topics. There’s also a link to our Sharing Economy Tax Center if you’re involved in this quickly growing business activity of using an online platform to sell a service, such as renting a room or providing car services.
And if you’re thinking about hiring employees, scroll up to our “Most Popular” topics section and click “Employer ID Numbers.” “Forms and Publications” is a handy link if you need materials, such as Schedule C, E or F.
Here you will find “Publication 4591, Small Business Federal Tax Responsibilities.”
You can get information on preparing your taxes, including an overview of tax credits and deductions, such as business use of your home. Plus, you can learn about recordkeeping requirements to help you track your expenses, and about making federal employment deposits.
We also have an online learning section where if you click “IRS Video Portal”, then the “Businesses” tab, you’ll find audio and video programs on topics such as treatment of retirement benefits, how to avoid being a victim of a tax scam and small business virtual workshop lessons. The audio programs contain transcripts and all video programs are closed-captioned.
If you prefer to go to an in-person workshop, then visit the “Small Business Events” section to locate a partner seminar, which may include IRS presenters. If you are deaf, hard of hearing, late-deafened or deaf-blind, contact the local sponsoring organization and request reasonable accommodation. They can provide sign language interpreters at these functions. Please allow them time to process your request.
And consider subscribing to e-News, which provides information about upcoming tax dates and what's new for small businesses.
Now, if you’re working for yourself, click on the “Self-Employed” link.
Or, if you’re not already on the IRS site, just type irs.gov/selfemployed.
Here you will find topics such as your filing requirements and payment obligations, along with tips on selecting a tax professional.
You may also want to check if IRS.gov has resources specific to your type of business.
For example, there are tax centers devoted to day care centers, restaurants and truckers, just to name a few.
Type in the keyword “Tax Centers” in the search field to see the complete list.
So, whether you’re self-employed, or starting or maintaining your own business, the Small Business and Self-Employed Tax Center is the place to start.
Visit it at irs.gov/smallbiz, with a “z.”.