Small Business Week, key tax topics
For Small Business Week, IRS highlights key business tax topics
WASHINGTON
— In recognition of National Small Business Week, April 29 to May 5, the
Internal Revenue Service is highlighting several resources to help small
business owners and self-employed individuals understand and meet their tax
obligations. The new tax law changes enacted
in December 2017 make it especially important for these groups to know about
new provisions affecting them.
During
this week, the IRS will highlight various products including:
·
A series of news
releases on various topics including the sharing economy, home office
deduction, cybersecurity and the Work Opportunity Tax Credit.
·
Tax tips about business
provisions under the new tax reform law. Topics will include tax law changes to
depreciation rules and the employer credit for family and medical leave and how
it benefits employers. Tax tips are written in plain language and can be
subscribed to using the IRS’s Tax Tips email-subscription program.
·
Information for small
businesses is also available through IRS social media channels including tax
tips and other resources. Stay informed following the hashtag #IRSsmallbiz and
help us spread these messages by sharing the @IRSnews, @IRSTaxPros and
@IRSenEspanol tweets.
Other small business
resources
The
IRS encourages business owners to check out other webinars on the IRS video portal. The
portal has presentations on a variety of small business topics. Business owners
may also be interested in these sites:
·
Small Business and Self-Employed Tax
Center — an online resource featuring links to a variety of
useful tools, including Small Business Taxes: The Virtual
Workshop, a downloadable tax calendar and common forms with
instructions. The Center provides help on everything from how to get an Employer Identification Number online
to information and tips about IRS audits.
·
Self-Employed Individual Tax Center
— a resource for sole proprietors and others who are in business for
themselves. This site has many useful tips and references to tax rules a
self-employed person may need to know.
·
IRS YouTube Video Channel —
watch videos for small businesses on the Small Business playlist.
·
Online Learning and Educational
Products — a page with tools to help taxpayers learn about
taxes on their own time and at their own pace. For example, the IRS Tax Calendar for
Businesses and Self-Employed has important tax dates for businesses.
·
E-News for Small Businesses
— a free electronic mail service that offers tax information for small
business owners and self-employed individuals, including reminders, tips and
special announcements.
More information
Major
tax reform was approved by
Congress in the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. The IRS has
been working to implement its provisions and give information and guidance to
taxpayers, businesses and the tax community as it becomes available.
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