We get it – tax season can be, well, taxing, especially if you’re a small business owner.
The past couple of years haven’t helped make things any smoother. To have a successful (and less stressful) tax season, you will need to consider many things, such as small business-specific tax forms, exemptions, law changes, etc. Fortunately, small businesses have so many resources available to them when tackling their taxes. There are plenty of options, whether you’re doing your small business taxes yourself or bringing in experts to help out; you just have to know where to look.
To give you a head start, we’ve compiled five of the best resources available to you – check them out!
Resources from the IRS
The IRS wants to work with small businesses and has many tax resources specifically for small business owners. Depending on your business’s complexity, you may not even need a tax accountant, as IRS resources are very comprehensive.
Here are four of the best resources from the IRS:
1. Small Business and Self-Employed Tax Center
If you’re going to handle your business’s taxes by yourself this year, this is where you’re going to want to start.
As the page’s title implies, it’s the central location for everything the IRS offers regarding personal and business taxes. There’s also a host of other essential tidbits about everything from running a business to foreign banking rules.
2. IRS Tax Calendar for Businesses and Self-Employed
This is a fantastic resource for any small business owner who has difficulty keeping up with when to file.
In addition to outlining all of the critical due dates, this page allows you to subscribe to RSS notifications and receive email reminders up to two weeks in advance.
You can also import the tax calendar for the year directly into your Outlook or iCal to receive automatic updates.
Everything you need to know about running a small business can be found here.
This site has many different topics, so it’s a good idea to come prepared with a couple of action items or specific questions you want to be answered, or you could spend hours just browsing. Whether you’re starting to build your business or trying to keep up with updates, this site has valuable information you can use right away.
4. Small Business Forms and Publications
Need a form? Need detailed instructions and tax tables? This is where to go.
You can find every kind of form or reference for filing small business taxes on or through this page. It’s a good idea to keep this page bookmarked so you have immediate access to any forms and filing instructions you may need.
Tax Credit Programs from the US Treasury
The fifth resource we’ve gathered for you is from the Treasury Department, which provides critical assistance to small businesses across the country. They also facilitate the urgent deployment of capital and support to help these organizations persevere and recover on solid footing.
5. Small Business Tax Credit Programs
This page has information about the different tax credit programs, one-pagers, and reference sheets to make claiming that much easier. These were created as part of the American Rescue Plan, which extends several critical tax benefits to small businesses, particularly the Employee Retention Credit and Paid Leave Credit.
The bottom line
Markaaz is dedicated to supporting you on your unique and special journey as a small business owner and entrepreneur. Whether it’s our pre-verified directory of 100 million+ businesses or upcoming features like our all-in-one dashboard and small business resource center, we’re here for you. The dashboard will soon give you one place to see your cash flow insights, invoice statements, business credit score, website and customer analytics, and so much more. The resource center will give you access to all the tools you need to run your business smoothly.
Join Markaaz today and be among the first to access our transformative features.