In support of National Small Business Week, May 5-11, the Internal Revenue Service said that it is emphasizing the many IRS online resources available to help small business owners and self-employed individuals handle the tax aspects of their business.
For more than 50 years, the week has recognized the important contributions of America’s entrepreneurs and small business owners.
For this year’s Small Business Week, the IRS will issue a series of news releases and tax tips focused on key topics such as:
■ Withholding taxes
■ Data security tips
■ Estimated tax payments
■ Business credits and deductions
■ Expanded tax benefits for depreciation and expensing.
The IRS also has products and information on the sharing economy, including a Sharing Economy Tax Center, to help people quickly find answers to tax questions, as well as helpful tips and tax forms for business taxpayers.
For more information on the efforts, go to irs.gov
A YouTube video, Your Taxes in a Sharing Economy, also helps those working in the sharing economy understand their tax responsibilities.
More details are available at irs.gov