Tax Time Survival: Online Tax Tools from IRS.gov for Small Business Owners
Doing taxes is tough for anyone, be it an individual or a major corporation. This is why personal and small armies of accountants are employed en masse every year, to figure out the complexities of the tax code. For a small business owner, who are spread thinner then anyone out there, hiring an expensive accounting firm or even an individual accountant may not be in the budget. In these cases, small businesses will have to do their taxes themselves, with a number of helpful forms and programs provided by the internal revenue service. PowerSites wants to help ease the burden of tax time, so we’ve compiled some of the most helpful forms and programs offered by the IRS, and listed them below.
IRS Virtual Tax Workshop for New and Small Businesses
The IRS Virtual Small Business Tax Workshop is an interactive online tax forum that provides new and small business owners a place where they can always ask questions, download forms and get advice from those who work for the IRS directly. Consider it a help desk whenever you need it so that if you run into any problems while doing your taxes and need help from the people who wrote the actual code, you will be able to easily ask them.
IRS Video Portal
At the IRS Video Portal, you will find a number of videos and webinars discussing a wide variety of tax topics. Not only will these instructional videos help you to do your taxes, but it will also give some great tips and strategies for keeping your taxes in order in the future. The small business section is also a great resource, especially if you are an employer.
IRS Retirement Plans Navigator
If you are thinking about retiring soon or even in a few decades, the IRS Retirement Plans Navigator will help you to strategize and plan ways to save money for this time. It is also a critical resource for small businesses who are offering retirement plans for their employees. This site will literally walk users through each plan that is out there and show them the ins and outs of it and what is required of the business and individual, in the simplest of terms.
IRS Small Business Tax Calendar
The IRS Small Business Tax Calendar is a regularly updated tax calendar, that reflects the ever changing tax code landscape, making it ideal for small businesses and freelancers to use when they are trying to do their taxes on their own. It is available online or as a print-out that can be hung on the wall for reference. There are also a wide variety of different tax and business tips offered by the tax calendar every year, based on new tax codes that may have been implemented.
Small Business and Tax Employment Center
In order to use everything that is outlined above, you must visit the IRS Small Business and Self-Employed Tax Center online. Go there, and sign up so you can receive their regular email newsletter to stay on top of any new announcements, or features that they create in the future.
Remember to use these free online tools, and it’ll help to make tax time that much easier!
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