National Small Business Week is currently underway, from April 29 to May 5. This yearly event is put on by the U.S. Small Business Administration and recognizes outstanding entrepreneurs and small business owners from all across the 50 states and U.S. territories. Various other organizations also participate by creating awareness and providing helpful resources including webinars, videos, blogs, articles, and other valuable content catered to small business owners.
Resource provided by the IRS
During National Small Business Week – and any time of the year – small business owners can visit the IRS channel to watch a series of videos that can help them navigate tax topics that affect their business.
The small business playlist on the official IRS YouTube channel features several videos that might be short, but that pack in a lot of helpful information. The videos walk business owners through topics such as:
- Estimated Taxes – covers who needs to make quarterly estimated tax payments and how people can make them.
- Some Taxpayers Can File their Employment Taxes Annually – discusses when and how to report to the IRS employment taxes withheld from employee paychecks.
- How to Voluntarily Correct the Classification of Your Workers – covers how to reclassify workers as employees who were initially considered independent contractors.
- Your Taxes in the Sharing Economy – reviews the tax responsibilities of people who participate in the gig economy, including people who use an app or website to rent out a spare room or offer rides in their car.
Are you a small business looking for someone to manage some of these tasks? PAYDAY Workforce Solutions provides peace of mind by helping you remain compliant with all mandated payroll related taxes so you can concentrate what you do best: running and growing your business. Give us a call at 714-467-3434 to learn more!