Taxes
Even though personal income tax is
a voluntary tax according to the Constitution of the United States, paying
business taxes are unavoidable.
Businesses face greater tax challenges. Not only does a business have to pay
income taxes, but a business needs to pay payroll, sales, use, property, and a
host of other taxes.
Ignorance of tax regulations will not keep you from paying hefty penalties.
The IRS has put together one of the best tax
sites on the Web. Then again, since the IRS is taxes, which we are paying for,
they should!
IRS
Digital Daily
From here you can get forms and instructions, prior year forms, links to
state tax forms.
IRS
EFTPS Questions and Answers
After July 1, 1997, most businesses will be required to make FICA, FUTA,
and corporate income tax payments, This page contains comprehensive
information on the new program including questions and answers.
IRS
Electronic Services
This area discusses what electronic filing options are available and how
to access the services.
IRS
Forms and Publications
With a keyword searchable database that then links directly to the
document.
IRS
News Stand
Including every official news release for the current tax year.
IRS
Regulations
Includes tax regulations issued since August 1, 1995.
IRS
Tax Info for Business
This section is dedicated to business taxpayers. Files and forms are
downloadable in a variety of formats.
IRS
Tax Info for You
This section is dedicated to personal tax filing.
IRS
Tax Statistics
A wealth of information on the financial composition of individuals,
corporations, partnerships, and other tax entities.
IRS
Taxpayer Help and Education
The IRS has included some of the most frequently asked tax questions here.
A full transcript of the IRS's Tele-Tax system is available online for those
who prefer reading (and printing) the information over listening to it.
Sales Taxes and
Electronic Commerce
Prop
13 Meets the Internet
This report discusses the sometimes frightening nature of sales taxes and
state and local government's reliance on them as a primary funding source. The
article estimates that state and local governments lost over $3.3 billion in
sales tax revenues in 1994 alone from mail-order and online sales. With the
dramatic increase in online sales expected in the next few years, this loss
will only increase.
Web
Tax Shuffle
Taken from the November 5, 1996 issue of PC Magazine, this article by
Sebastian Rupley talks about the tax haven that exists on the Internet. Part
of the murkiness stems from existing laws. Sebastian writes, "Federal law
dictates that an electronic purchase from an out-of-state vendor may be taxed
by the buyer's state, but the merchant selling the product has no
responsibility to collect the taxes or even to report the transaction."
Rupley discusses how several online businesses are trying to address the
issue.
Taxes and
Organization Structure
American
Express Small Business Exchange
Some of the best small business tax information available on the Web.
Their Small Business Tax Primer gives you a good overview of some of the tax
laws relating to how your business's structure. Within each primer they
explain what is meant by an "S corporation" with the use of links.
The site also walks you through personal income taxes, employment taxes, sales
taxes, and property taxes. For the real meat of the site, click on Back to
Starting Your Business and find resources on pricing, wholesalers, financing,
and insurance.
The
Business Incorporating Guide
How your business is organized determines what types of taxes you will
pay. For those interested in incorporating their business, Corporate Agents,
Inc. has created a site with incorporating information readily available.
Registered
Agents, Ltd.
Registered Agents is a business that helps small businesses incorporate.
Even if you're not thinking of incorporating right now, there's some great
information on this site.
Small
Business Survival Tips
A listing of seven small business survival tips. The first tip discusses the
process of converting a corporation to a sole proprietorship and warns that
corporations can lose their ability to shield majority owners from personal
liability if they don't pay franchise, payroll, or other taxes. The remaining
tips include exiting a partnership, controlling expenses, signing personal
guarantees, and giving your business a financial physical.
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