Question:
How do I learn about taxes?
IRS-Business Use of Home
Can you deduct your phone bill if you use your phone for business? Can you deduct part of your utility bills if you have a home office? Find out the answers to these questions and more by ordering the free IRS publication #587 "Business Use of Your Home".
IRS-Tax Guide for Small Business
Need general Small Business tax filing information? Send for the IRS free publication #334 "Tax Guide for Small Businesses".
IRS-Self-Employment Tax
Not sure how to handle your Self-Employment Tax? Not sure what Self-Employment Tax is? Order your free IRS publication #533 "Self-Employment Tax".
Tax Education
Free* Tax Education for small business owners is offered by the IRS.
Small business owners and other self-employed individuals can learn about business taxes through a unique partnership between the IRS and local organizations. Through workshops or in-depth tax courses, instructors provide training on starting a business, recordkeeping, preparing business tax returns, self-employment tax issues, and employment taxes.
For more information about this program, call your local IRS office Monday through Friday during regular business hours and ask for your Taxpayer Education Coordinator.
You can also call 1-800-829-1040.
*Some courses are offered free as a community service. Courses given by an educational facility may include costs for materials and tuition. Other courses may have a nominal fee to offset administrative costs of sponsoring organizations.
How Do I Pay My Taxes?
The best place to find out how your business handles taxes is to go to the source - the IRS. The IRS has a very informative website where you can download just about any publication or form you may ever need--and instructions to go along with them! If you feel you must talk to a human being about these matters then you may also call your local IRS office (numbers found in your local phone book or online). But be prepared to wait--on hold while waiting for your call to be answered and by your mailbox while waiting for your info to be mailed.
Educate yourself
Ignorance of the law is not an excuse. See your accountant and learn how tax laws affect you and your new business. He/she can save you a lot of heartache and fines later on.
Sales Taxes
As a seller, you are generally responsible for seeing that the taxes are paid to the state(s) you in which you do business. If your business involves taxable sales of property or services, you should be prepared to handle the following obligations:
*Registration - the first thing you should do is to secure sales permits for each of your business sites.
*Collections - because you usually collect sales taxes from your purchasers, you'll have to account for your sales taxes with each taxable sale.
*You will also need to know when you don't need to collect because purchasers have asserted valid claims for exemptions (as with tax-exempt organizations)
*Payments and returns - once you've collected the tax, you then need to remit the taxes with the appropriate returns to the appropriate tax agencies.
Small Businesses Frequently Asked Questions
How can I prevent business losses?
How do I attract new business?
How do I work around the kids?
How can I save money in my business?
How do I keep customers satisfied?
How do I spend time with my kids while working at home?
How do I manage work hours at home?
How do I work at home around my kids?
How do I read financial statements?
How do I help someone with a problem?
What are some inspirational quotes?
What are some inspirational quotes?
How do I sponsor distributors?
How do I put my life in balance?
What are some inspirational quotes?
How do I choose and MLM company?
How do I do accounting for my business?
How do I know if a company is a pyramid scheme?
Where can I find new business leads?
Where do I find new business ideas?
How do I measure my business growth?
Why won´t my team members follow my leadership?
How do I manage paperwork and piles?
How do I keep my desk organized?
What are some inspirational quotes?
What are Financial Statements?
What do I do when I start to question my business decisions?
How do I track my business income?
How do I find fulfillment in my life?
How do compensation plans differ?
How can I work more efficiently?
What will make me a strong leader?
How do I identify embezzlement?
How do I get work done with kids around?
What do I need to get organized?
Where can I find a babysitter while I´m working at home?
How can I balance work and family?
How do I identify embezzlement?
How do I keep my family organized?
How do I find a name for my business?
How can I prepare for each day?
What is a good business investment?
Why should I attend business seminars?
How can I do my business better?
How do I cut down on phone time?
What do I do with sales taxes I collect?
What can I deduct for my business?
What is the difference between a business and a hobby?
How long do I have to keep taxes, receipts and other important docs?
Where do I find business help?
Why should I keep my desk clean?
How do I keep my goals in line with my life?
How do I prepare a Balance Sheet?
How do I keep from getting burned out?
How do I stay on track with my goals?
How do I protect my business in case of disaster?
What are the skills of a good leader?
Where can I find infomation about starting a home business?
How do I become a better manager?
How do I recruit new distributors?
How do I lead people with different personalities?
Why is decision making important?
What can deduct for a home office?
Why should I thank my customers?
How do I expand my sphere of influence?
What are qualities of a good leader?
How do I work around my family´s schedule?
How do I work business around my family?
How do I compensate my employees?
How can playdates help my business?
How do I make phone calls with children around?
How do I get the respect my business deserves?
How do I develop and train leaders?
How do I handle a business disaster?
How do I keep up with the industry?
What is the difference between a Bookkeeper and an Accountant?
How do I balance my business and personal life?
How can I learn how to do my taxes?
How do I keep my kids away from my work area?
How do I get a business started?
How can I find information about a specific company?
How do I talk on the phone with young children?
How can I measure my productivity?
How do I start a small business?
How do I deal with being told no?
How do I get paid in MLM or Network Marketing?
Can I write off the sale of an asset?
Where do successful people come from?
How do I achieve peace of mind?
Where can I find easy financial tips?
How do I keep a clean house with a home business?
How do I find out about legal issues for my business?
What are the characteristics of successful people?
How do I build my business network?
How can I keep my inbox empty?
What do I need to get organized?
How can I always be prepared for business?
How do I get paid if I´m self-employed?
What is a Binary Compensation Plan?
How do I know if my business is making money?
How do I make money in my business?
Why is working at home good for my family?
How do I hire a professional to do my household chores?
How do I find professional help for my business?
How do I stop all these bounced check charges from my bank?
How do I get the attetion of prospects and turn them into buyers?
How do I balance family and work?
What is the Australian Compensation Plan?
How do I remember everything I need to do?
Can a mom with children really have a successful business?
How do I support my family, community, and my business?
How do direct sellers file taxes?
Where do I find info on starting a business?
What are the laws governing home businesses?
What am I legally responsible for in my business?
What if I set a goal, but don´t reach it?
How do I tell people about my business?
Why are home-businesses a good option?
What does a home-business offer me?
| Guru Spotlight |
| Sheri Ann Richerson |
