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Small business tax tips

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BeccaNorman44

This document discusses key small business tax tips including different forms of business like sole proprietorships and corporations, obtaining an employer identification number, choosing an accounting method and tax year, common business taxes and deductible expenses, the importance of record keeping and types of records to maintain, and lists the IRS publication on starting a business and keeping records as an information source.

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Small Business Tax Tips Presented By Paul Bax
Forms of Business Sole Proprietorships Partnerships Corporations S Corporations Limited Liability Company
Employer Identification Number (EIN)
TAX YEAR
ACCOUNTING METHOD
BUSINESS TAXES Income Tax Self-Employment Tax Employment Tax Excise Tax
Business Expenses Business Start-Up Costs Depreciation Business Use of Your Home Car and Truck Expenses
RECORD KEEPING Why Keep Records Kinds of Records To Keep Supporting Documents Recording Business Transactions How Long To Keep Records
Information Source: IRS Publication 583 (Rev. January 2007) Starting a Business and Keeping Records

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Small business tax tips