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Quick List of Small Business Tax Resources

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This entry was posted on 2/11/2008 7:24 AM and is filed under Small Business Tips.

You may have already completed your 2007 taxes, but if you’re dreading the task or tackling your Internet-based business’s taxes for the first time, here are some resources that may help:

The Small Business and Self-Employed One-Stop Resource from the Internal Revenue Service. The IRS is doing their part to help make filing easier, pulling forms and FAQs into one location. This Web site includes a quick A-Z index if you need a specific form; answers to qualifying business expense questions; tax-related guidelines for employers; how to get an Employer ID Number if you don’t have one; and more.

New Tax Law Changes for Your 2008 Federal Income Taxes from American Consumer News. This article offers a short summary of tax law changes for 2008, giving you a good heads-up on areas where you might want to pay special attention when filing this year, including new business mileage rates and new rules for charitable giving deductions.

Glossary of Tax Terms from Entrepreneur.com. Whether you’re working on your taxes or using your tax accountant, you’re probably running into terms that are over your head. Here’s an alphabetical resource to help explain those terms and bring them closer to everyday vocabulary.

Top Tax Deductions for Your Small Business by Attorney Stephen Fishman (Nolo). This article is about small business in general and is not specific to your reseller business. But once you get to the end of the article, there is a handy section on “Advertising and Promotion” and a list of “Easily Overlooked Business Expenses.”

Going forward – Here are some strategies for going forward with your 2008 taxes.

Six Tax Tips for 2008 from the Small Business Resource Center – This article has a variety of practical (and one or two iffy) suggestions, but the strongest message you’ll get is to be organized in 2008 and keep track of everything related to your small business for 2009.

Estimated Quarterly taxes are confusing, but it will be worth your while to figure out if you should be paying them before you get penalized on a future tax return. This TaxMama article is a couple years old, but gives a clear idea of when you’re required to go this route. Estimated Payments. Hate Them? But Pay Them!

 

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Comments

    • 2/11/2008 10:34 AM TaxMama wrote:
      Thanks for the reference to the Estimated Tax article. I've updated it so your readers get the correct dates and links.

      Best wishes

      Eva Rosenberg, EA
      Your TaxMama
      Reply to this
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