Along with April comes tax deadlines. Complying with federal tax laws may seem overwhelming at times, but there are resources available for small business owners. The IRS provides all types of information and even has a virtual workshop to help small business owners and the self-employed understand, and meet, their federal obligations.
The information provided can be used at any stage of your business life, from start-ups to seasoned businesses. The small business/self-employed division of the IRS has a free e-mail service that you can subscribe to for e-news and IRS news’ releases.
They also offer an IRS video portal where you will find video clips of tax topics, webinars and archives of national phone forums. The latest webinar provided business owners the basics for effective conversations with their accountants. Included in the webinar were three important questions to ask before hiring an accountant and the seven common business deductions that may be available.
The Dorchester County Economic Development Office has information from the IRS on hand for local businesses as well. For more information, please visit www.irs.gov or dial the tax hotline for individuals at (800) 829-1040.