·Selecting a Business Structure Selecting a Business Structure provides a brief description of each type of business structure and what tax forms are required to report income, employment taxes and other required forms.
·Employer Identification Number (EIN) Employer Identification Number (EIN) covers if an EIN is needed, how to apply for one, and other related FAQ for EINs.
·Business Taxes Business Taxes covers Income, Self-Employment, Employment and Excise Taxes. ·Recordkeeping Recordkeeping covers FAQ and also has links to IRS Publications such as Pub 583, Starting a Business and Keeping Records. There is also a link to a virtual Small Business Tax Workshop of 9 lessons for what a new business owner needs to know about federal taxes. ·When Do I Start My Tax Year? When Do I Start My Tax Year – this can be confusing. Most of our clients will need to file a calendar year return, i.e. January 1 through December 31.
·Selecting an Accounting Method Selecting an Accounting Method – This references IRS Pub 538 – Accounting Periods and Methods. For small businesses, they are allowed to use the cash method even if they have inventories, but the rules need to be reviewed to assure they qualify.
·Checklist for Starting a Business Checklist – this just links them back to each topic they need to cover when starting a new business.