IRS Tax Tip 2020-150, November 5, 2020
This week is National Veterans Small Business Week. The IRS has a variety of resources to help small business owners, including veterans, understand their tax responsibilities. Best of all, most of these resources are available online at IRS.gov.
Here’s a few webpages with helpful information for small business owners:
Small Business and Self-Employed Tax Center
This page features links to useful tools and common IRS forms with instructions. Taxpayers can find help on topics such as starting or operating a business, recordkeeping, filing and paying taxes. A link to the IRS Tax Calendar for Businesses and Self-Employed also provides at-a-glance key tax dates for businesses.
Self-Employed Individuals Tax Center
This a great resource for sole proprietors and others who are in business for themselves. This site has many handy tips and references to tax rules a self-employed person may need to know. Self-employed taxpayers will find info on a variety of topics, including how to make quarterly payments and self-employed tax obligations.
Sharing Economy Tax Center
For taxpayers engaged in the sharing economy, this site provides answers to tax questions, links to forms and resources related to the sharing economy. The gig economy—also called sharing economy or access economy—is activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website.