5 Essential Online Tax Tools for Small Business Owners from IRS.gov

Have questions about small business taxes? Need a quick tutorial in any aspect of business taxes? Perhaps all you want is a reminder of key tax dates and deadlines?

IRS.gov is a resource-rich site home to numerous online tools designed specifically for small business owners and the self-employed. Whether you are looking for answers or just need to improve your financial literacy, IRS.gov has a lot to offer. Here’s a quick look at some of what’s available from IRS.gov.

1. IRS Virtual Tax Workshop for New Small Businesses

The IRS Virtual Small Business Tax Workshop is a self-paced interactive online tax information and training tool that can help new small business owners understand and navigate their tax obligations year-round. The workshop consists of nine stand-alone lessons that cover such topics as:

• An explanation of federal tax obligations for new business owners
• How to set up and run your business so paying taxes isn’t a hassle
• How to set up a retirement plan for yourself and your employees
• How to manage payroll withholding

2. IRS Video Portal for Small Business Taxpayers

Enter www.taxes.gov in your browser and you’ll find the IRS Video Portal (the official URL is www.irsvideos.gov). Here you’ll find quick video clips and webinars designed to explain a variety of tax topics (from audits to deductions to changing your business). The small business section  is a great resource, particularly if you are an employer.

3. IRS Retirement Plans Navigator

Finding and managing the right retirement plan for your business is a big undertaking that involves understanding the law as well as the options that fit your needs. The IRS’ online Retirement Plans Navigator helps small employers find and compare a variety of retirement plan options based on their particular requirements. The tool also helps you maintain your plan in accordance with changing tax laws. You can make appropriate plan changes without having to notify the IRS.

4. IRS Small Business Tax Calendar

Navigating the tax year as a business owner is no mean feat, and whether you’re a freelancer, a start-up or a growing small business, the tax landscape is ever changing. This is where the free IRS Small Business Tax Calendar can help. Available as a printed color wall calendar, a desktop or online application, the calendar logs key business tax dates and reminders. Plus, the calendar is updated every year to include tax, financial and business management tips – specifically for small business owners.

5. Small Business and Self-Employed Tax Center

To access the above tools and more, check out the IRS’s Small Business and Self-Employed Tax Center. Subscribe to regular e-newsletter updates; find out about small business tax workshops in your state, and, of course, access information and forms related to small business tax requirements.

Related Resources

• SBA Small Business Tax Guide
• Small Business Cents – Subscribe to this blog for regular tips and information about managing your business tax and finances.
• SBA.gov Community – Filing and Paying Taxes Discussion Board – Post your tax questions.

About the Author

Caron Beesley is a small business owner, a writer, and marketing communications consultant. Caron works with the SBA.gov team to promote essential government resources that help entrepreneurs and small business owners start-up, grow and succeed. Follow Caron on Twitter: @caronbeesley