The Los Angeles Post

National Small Business Week: IRS.gov offers one-stop shop for small business tax resources

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IRS Small Business Self-Employed Tax Center – English | ASL

 

IR-2024-125, April 29, 2024, WASHINGTON– The Internal Revenue Service today urged small businesses to take advantage of the many tax resources available through the Small Business and Self-Employed Tax Center on IRS.gov.

 

As part of National Small Business Week, April 28 to May 4, the IRS is highlighting tax benefits and resources to help small businesses. Spearheaded by the Small Business Administration, National Small Business Week has been celebrating the contributions small businesses make to America’s economy for over 60 years. The theme of this year’s celebration is, “Building on America’s Small Business Boom.”

 

The best place to start

Small businesses should make the Small Business and Self-Employed Tax Center their first stop for finding just about everything they need to meet their federal tax obligations. Whether they are self-employed, an independent contractor, a gig worker or a business with employees, the site provides in-depth information, tools and helpful educational resources.

 

A road map from start to finish

The IRS.gov small business pages map out the entire life cycle of a business and its tax implications. Sections include:

 

  • Starting a business: Basic federal tax information for anyone starting a business, as well as a checklist to assist in making basic business decisions.
  • Business structures: Help in choosing a business entity because that choice determines which tax forms need to be filed.
  • Operating a business: Tools and tips on how to quickly get an Employer Identification Number (the tax ID number that most businesses need to file and pay their taxes), keep good records and file and pay taxes.
  • Closing a business: Help navigating the closure of a business from a federal tax perspective; how to take care of employees, which forms to file, which records to keep and what tax related moves need to happen before shutting down.

 

Stay on top of things and learn more

The education and online learning products offered on IRS.gov ensure small businesses have the latest tax related information for their enterprise.

 

 

Keep up to date

Stay informed on small business tax issues with these IRS.gov resources:

 

  • Subscribe: e-News for Small Businesses is a free e-mail service that features the latest news, upcoming tax date reminders and tips to help small businesses.
  • Standard mileage rates: Current information for the many business owners who use their car for business.

 

For more information, visit the Small Business Week page on IRS.gov.