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National Small Business Week

National Small Business Week Tip #6: Your Library Is Here To Help

Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

National Small Business Week Tip #5: Tax Tips 101

Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

Small business owners and individuals who are self-employed have lots of questions and concerns about taxes. The IRS Tax Calendar has a wealth of tax tips, contact information and handy schedules. The IRS Small Business and Self-Employed Tax Center has links for everything from publications and forms to helpful newsletters.

National Small Business Week Tip #3: Adding Up Business Expenses

Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

There are many expenses in owning a small business. Although not every expense can be used as a business deduction, certain portions of car, travel, business use of your home, entertainment and gift expenses can be claimed. Knowing which expense is deductible and keeping good records is vital. For a specific lists of deductions, see Publication 463, Travel, Entertainment, Gift and Car Expenses and Publication 535, Business Expenses.

National Small Business Week Tip #2 - Good Records Are a Good Bet

Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

Today's tip is to keep good records for success. By keeping good records, small business owners can:
  • Monitor the progress of their business
  • Prepare their financial statements
  • Identify source of receipts
  • Keep track of deductible expenses
  • Prepare their tax returns
  • Support items reported on tax returns
For more information, see IRS Publication 583, Starting a Business and Keeping Records.

National Small Business Week Tip #1: Start Out Right

Each year, the U.S. Small Business Administration recognizes the contributions of small businesses to the success of the economy. This week, National Small Business Week is May 23-29.

Getting started with your small business can be overwhelming. You've got questions, but who has answers? The U.S. Small Business Administration has lots of resources for people just getting started with their business. Try the Small Business Planner for a step-by-step guide through the process. For more help and tips, visit the IRS Tax Calendar.