Starting a business is a big step, and once you open your doors, you have plenty to learn – in a short time – to be successful. Take advantage of free online courses from the SBA and the IRS to learn the basics of important topics related to your small business.
Once you are ready to commit to the Big Step, contact Gateway to Entrepreneurial Tomorrows (GET) at 845-790-5004 to set up a confidential meeting with a counselor to see how we can help you. GET provides assistance primarily to minorities and low income people that want to start their own business or are already in business. Services are free, confidential and bi-lingual.
Below are some helpful links to get you started:
The Virtual Small Business Tax Workshop is composed of nine interactive lessons designed to help new small business owners learn their tax rights and responsibilities. Those lessons are:
• Lesson 1 – What you need to know about Federal Taxes and your new business
• Lesson 2 – How to set up and run your business so paying taxes isn’t a hassle
• Lesson 3 – How to file and pay your taxes using a computer
• Lesson 4 – What you need to know when you run your business out of your home
• Lesson 5 – How to set up a retirement plan for yourself and your employees
• Lesson 6 – What you need to know about federal taxes when hiring employees/contractors
• Lesson 7 – How to manage payroll so you withhold the right amount from employees
• Lesson 8 – How to make tax deposits and file your payroll taxes
• Lesson 9 – What you need to know about Federal Unemployment Taxes (FUTA)
Good Recordkeeping Helps Avoid Headaches at Tax Time
Whether you are an individual taxpayer or a business owner, you can avoid headaches at tax time by keeping good records during the year.
Schedule C: Who needs to file and how to do it
This presentation is for Schedule C filers who are one-owner businesses or self-employed taxpayers. Good recordkeeping is very important to the business owner or self-employed person in order to have everything needed when it comes time to file a tax return. Schedule C is filed annually as an attachment to Form 1040, the individual tax return.
Business Taxes for the Self-Employed: The Basics – Webinar (March 29, 2011)
Learn the basics about reporting profit or loss from a business or profession. Other topics discussed include: estimated tax payments, self-employment tax, Schedule C, husband and wife businesses, business expenses and recordkeeping.
Starting a SEP or SIMPLE IRA Plan
SEP and SIMPLE IRA plans provide business owners like you, an inexpensive, hassle-free way to plan for retirement for you and your employees.