Best Practices

AKSourceLink: Resources to Get Ready for Tax Time

Published Jan 30, 2014

It is that time of year.  The time when thoughts turn to...taxes.  There are many great sources of information available online.  The IRS, SBA and SCORE all have great websites full of useful information.  Below are some of the top resources for getting ready for tax season.

IRS- The Internal Revenue Service has a whole host of tools to make tax time a little easier.    

IRS Business & Specialty Toll Free number, 1-800-829-4933, open Monday – Friday, 7:00 a.m. – 7:00 p.m. your local time (Alaska & Hawaii follow Pacific Time).

Starting Jan. 13, 2014, Business Tax Filers Can File 2013 Returns

The IRS will begin accepting 2013 business tax returns on Monday, Jan. 13, 2014. This start date applies to both electronically-filed and paper-filed returns.

Business returns include any return that posts on the IRS Business Master File (BMF). BMF returns include a variety of income tax and information returns such as Form 1120 filed by corporations,Form 1120S filed by S corporations,Form 1065 filed by partnerships and Form 1041, the return filed by estates and trusts. It also includes various excise and payroll tax returns, such as Form 720,Form 940Form 941 and Form 2290.  The Jan. 13 start date does not apply to unincorporated small businesses that report their income on Form 1040. The start date for all 1040 filers is Jan. 31, 2014. Although the IRS encourages these small businesses to begin preparing their returns now, it will not be able to accept these or any other individual returns or begin processing them until Jan. 31. This includes sole proprietors who file a Schedule C, landlords who file a Schedule E and farmers who file a Schedule F.

IRS e-News for Small Businesses

If you would like to receive e-News for Small Businesses, please visit this link to subscribe:

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Subscribe-to-e-News-for-Small-Businesses

SBA-  The Small Business Administration has a great website and webinars on a variety of tax related topics.

Filing and paying taxes

http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/establishing-business/tax

There are a variety of great articles and discussion board on taxes.


Affordable Care Act 101 Webinars for Small Business

http://www.sba.gov/healthcare

The SBA and Small Business Majority are holding weekly Affordable Care Act 101 webinars. During the presentation, small business owners can learn about the law and what it means for their company and employees.  Visit the web page above for a complete schedule, but webinars are generally held every Thursday at 11:00 am Pacific Time.


SCORE
-

Top 10 Tax Tips for Small and Growing Businesses

http://www.score.org/all-business/top-10-tax-tips

Taxes are one of the most important issues facing small and growing businesses. And like a company's profits, its annual tax bill will in part reflect the owner's skills and knowledge. Business owners need to be sure that they are meeting all of their responsibilities to the tax man -- and also seizing every opportunity to reduce their taxes.

Content contributed by Lisa Wedin, AKSourceLink.  AKSourceLink is a proud affiliate of U.S.SourceLink, America’s largest resource network for entrepreneurs.