For small businesses doing taxes are daunting. There’s a lot to know and the IRS makes changes every single year. Businesses need to know these changes and how to apply them to their tax returns. Hiring a tax consultant to do their returns is not cheap. There are some helpful tools and resources to enable a business owner to figure their own taxes.
- Turbotax.intuit.com has the single best tool a business owner can have in their arsenal. Their TurboTax for Business is inexpensive and current versions are preloaded with IRS changes, and it literally does the tax figuring for you. Next year simply download the update.
- The IRS.gov website is a wealth of current information, forms and help. They even have phone numbers to aid tax payers. The site can help to categorize the business, which can throw the whole equation off if the correct category isn’t chosen. It also tells taxpayers what to look for if/when hiring a tax preparer.
- There’s also IRSvideos.gov where they have short videos on workshops for business taxes. Tax.gov also offers this help.
- The SBA.gov site has fact sheets with tax breaks explained.
- Tax.gov also has a tax calendar, which can come in very handy, year-around. It offers suggestions for when to file, what and when to pay, etc.
- MBDA.gov (Minority Business Development Agency) has a blog that can be very helpful with tax season resources.
The stress build-up some people get just knowing that April 15 is coming up can be enough to make them throw their hands up in confused desperation. Help is here, tools are available.














