Employer ID number (EIN) An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity. Find out if you need an EIN and how to apply for one. Recordkeeping Unless you are a professional bookkeeper, you probably don't like to spend valuable business time keeping records. But keeping good records can actually help you save money. Business name change Explanation for businesses on how to make a name change. Businesses with employees If you operate a business and have employees, then this section has the information you will need. You will find resources on hiring, recordkeeping and other topics such as employment taxes, and wage reporting requirements. Educating your employees about tax compliance Use these communication products to help your employees understand their tax compliance responsibilities and find IRS resources to help them file and pay their taxes on time. Paying independent contractors If you pay independent contractors, you may have to file Form 1099-NEC, Nonemployee Compensation to report payments for services performed for your trade or business. What is taxable and nontaxable income? You can receive income in the form of money, property, or services. This section lists many kinds of income that are taxable or nontaxable. Filing and paying your business taxes This section discusses business taxes you may have to pay and the forms you may have to file. It also discusses taxpayer identification numbers. Filing a Beneficial Ownership Information Report (BOIR) Find out if your company is required to report information about the individuals who directly or indirectly own or control it. E-file form 940, 941 or 944 for small businesses Learn your options for e-filing form 940, 941 or 944. Estimated taxes Federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. There are two ways to pay as you go: withholding and estimated taxes. Business tax credits A list of forms for claiming business tax credits, and a brief explanation about when carryovers, and credits cease. Intangibles Intangible Property is property that has value but cannot be seen or touched. Generally, you can either amortize or depreciate intangible property. Closing a business There is more involved in closing your business than just locking the doors. This section provides procedures for getting out of business, including what forms to file and how to handle additional revenue received or expenses you may incur. IRS tax calendar for small businesses and self-employed View the tax calendar online, or subscribe to or import into your calendar program. Retirement plans The advantages of a retirement plan are numerous. There are economic, business and tax advantages for your business, for your employees and for you. A retirement plan may give you an important competitive edge in attracting and keeping the best employees - and help you plan for your own retirement years.
