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IRS Small Biz Tax Center

(posted: November 22nd, 2017)


Small Business Saturday is coming up on November 25th, encouraging holiday shoppers to support their small, local businesses. Small businesses are foundational in their communities, connecting people, employing residents and driving the economy.

Small businesses are:

  • 99.7 percent of U.S. employer firms

Small businesses provide:

  • 64 percent of net new private-sector jobs

In that spirit, the IRS reminds us that they have an online resource, the Small Business & Self-Employed Tax Center specifically to help small business and self employed owners, including those involved in the sharing/gig economy, to learn about their taxes.

The Center is a virtual one-stop tax shop. There is an extensive A-Z index if you know the subject you want to research, or you can browse through the various categories like Stages of Owning a Business or Filing/Paying Taxes.

The online learning section includes a Virtual Workshop on small business taxes, a video series that spans nine installments. Learn at your own pace with this series and other educational tools linked on the page.

One of the Center's newest features is the Sharing Economy Tax Center. If you use one of the many online platforms available to rent out your spare bedroom, provide car rides, or to connect and provide a number of other goods or services, you’re involved in what is sometimes called the sharing economy. This section can help answer your questions.

This is a great resource for business owners, but all that information can still be overwhelming. While we certainly advocate that you understand your tax responsibilities as a business owner, it's not your job to be a tax expert. So if you have questions or concerns about your taxes, please contact us. Let us do the heavy (tax) lifting so that you can focus on running your business!

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