What New Business Owners Need To Know

	What New Business Owners Need To Know
	Forms of Business - very important! More information. More information. More information. More information.
	Identification Numbers Employer Identification Number (EIN) Payee's Identification Number
	Tax Year
	Accounting Method  - This is important - check with your account regarding which type to choose.
	Business Taxes Income Tax Self-Employment Tax Employment Taxes Excise Taxes Depositing Taxes
	Information Returns
	Penalties Waiver of penalty.
	Business Expenses Business Start-Up Costs Depreciation Business Use of Your Home Car and Truck Expenses
	Recordkeeping Why Keep Records? Kinds of Records To Keep How Long To Keep Records Sample Record System
	How To Get More Information Internal Revenue Service Small Business Administration Other Federal Agencies

  More Small Business information

Small Business and Self-Employed One-Stop Resource From: http://www.irs.gov/businesses/small/index.html
	Online Classroom The Small Business/Self-Employed online classroom has a series of self-directed workshops on a variety of topics for small business owners. Tax Scams - How to Recognize and Avoid Them To help the public recognize and avoid abusive tax schemes, the IRS offers an abundance of educational materials. Participating in an illegal scheme to avoid paying taxes can result in imprisonment and fines, as well as the repayment of taxes owed with penalties and interest. Education is the best way to avoid the pitfalls of these “too good to be true” tax scams.

Join the SB/SE Mailing List
The SB/SE Mailing List is a nationwide list server and provides information about IRS small business and self-employed outreach products and programs.

Employment Taxes for Small Businesses
The subject of employment taxes is not as formidable when you consult our comprehensive resources.

Treasury, IRS Warn of Identity Theft Scheme Involving Bogus E-mail, Web site
IR-2004-60 — E-mail-based scheme attempts to trick taxpayers into revealing personal information.

The Small Business Resource Guide CD-ROM is Here!
The 2004 Small Business Resource Guide CD ROM, Pub 3207, Catalog Number 26757M, is now available. This year the guide has a new look, enhanced navigation features, and "drop-down" menus to view topics. Also, a list of topics is provided on the CD cover.

Rate Our Products and the Small Business/Self-Employed Community Website
Help us to help you! We want to know how our products fit your needs as a businessperson. In our efforts to make a better, more informative, and more "user friendly" product or Web site, we need your input.

Small Business Products Online Ordering
Looking for a tool to help you meet your tax requirements? Choose from our free products, developed especially for the Small Business/Self-Employed person, and obtain updated information on existing products. Order today online or by calling 1-800-829-3676.

2003 & 2004 Tax Changes for Businesses
At tax time, many business owners want to make sure they are aware of the latest changes that could affect their taxes. If you are one of these owners, here are some tax changes that may affect you.

2004 Standard Mileage Rates Set — 800,000 More Businesses Eligible
IR-2003-121 — Rates for business, charitable, medical and moving expense purposes. Taxpayers using not more than 4 vehicles at the same time may use the standard business mileage rate.

Starting, Operating, or Closing a Business
Whether you are a budding entrepreneur, or an established business owner, you will find everything you need to start and manage your business venture.

Self-Employed Individuals or Independent Contractors
We have heard your requests, and are pleased to offer a community dedicated to providing information related to self-employment. Get the basics on self-employment, filing requirements, your reporting responsibilities as an independent contractor, useful forms and publications, and more.

Small Business Forms and Publications
Now you can select and download multiple small business and self-employed forms and publications, or you can call 1-800-829-3676 to order forms and publications through the mail. If you are an aspiring entrepreneur, and are unsure of which tax publications may be relevant to you, please consult our Starting a Business section, which provides an overview of your federal tax responsibilities.

Small Business Resources
This section offers links to a broad range of resources across federal and state agencies.

Filing Late and/or Paying Late: Information You Should Know
Before you decide not to file your tax return on time or not pay all of your taxes when they are due, consider this.

Barter Exchanges
The Internet has provided a medium for new growth in the bartering exchange industry. This section provides helpful information on bartering.

Employees - Retirement Plans
Retirement plans are vehicles which may be used to set aside tax-deferred compensation for use by individuals at their retirement.

IRS Non-Retaliation Policy - Section 1203
IRS has a zero tolerance policy for retaliation and has had a written non-retaliation policy in place since 1998. Section 1203 of RRA'98 provides mandatory termination of IRS employees under various specific instances of misconduct and provides a number of key taxpayer safeguards.

Employer ID Numbers (EINs)
The resources in this section provide a full explanation about the EIN, also known as a federal tax identification number.