Getting help with your taxes
Small business owners have a lot on their plates, and one huge item is taxes. Many small business owners are used to doing their own personal taxes, but business taxes are a whole different ballgame and can be confusing and scary, especially when owners don't know what the IRS wants from them. While research and resources are available online and through the local branch of the SBA, free tax help through private organizations may be the better way to go to help owners determine what they need to do in order to avoid tax problems.
Online tax help may be the least expensive option for small business owners to start looking for resources. Many articles are written by the IRS itself to help business owners determine what they need to start their taxes. As well, small business accountants hired by the SBA or by the government may be able to assist small business owners. These individuals are trained to help business owners work with the IRS and may even be able to find tax breaks and other deductions to lower taxes, which means more money in the business owner's pocket.
Where to Find Tax Help
When small business owners are looking for tax help, the best place to go may be straight to the source—the IRS. IRS tax help is published on the federal website, but owners can also call the IRS directly to ask questions about their taxes and find out what they need to avoid an audit. IRS agents can also update the owner on the latest tax regulations to ensure that they know what they need to provide come tax time.
Federal tax help may be available for businesses of all sizes. The federal government may include deductions that can help small businesses of a certain type avoid large tax payments or issues with the IRS. Small business owners should contact the government or their SBA for more information on getting help with taxes through the government.
The best way to ensure taxes go well are to follow good financial practices—document everything, keep all receipts and invoices for at least seven years, use a professional business software system and access a professional to help you with any complicated tax returns. This will help you avoid an audit from the IRS and keep your business taxes simple.