IRS Small Biz

Add an extra layer of protection to your #Smallbiz by signing up for an Identity Protection PIN. It’s a 6-digit number that prevents someone else from filing a tax return using your Social Security number. Check out this tax tip to learn more: ow.ly/AG2W50WoC0M

Deductions lower your income, which can lower your tax payment or increase your #IRS refund. Make sure you are keeping good records to show the expenses or losses you want to deduct. ow.ly/73Z650WjPUm

Keeping track of your business expenses or losses allows you to claim the right tax deductions from the #IRS. The system you use to record business transactions will be more effective if you follow good recordkeeping practices. See: ow.ly/OJ9L50WjPZX

Closing your #Smallbiz can be a difficult and challenging task. The #IRS has steps you’ll need to take to close your business from a federal tax perspective. Learn more: ow.ly/frB250WpW9Z

If you receive a suspicious #IRS email or text, do not click links or open attachments. Forward phishing emails to [email protected] and delete them. Protect your #Smallbiz from fraud. Details: irs.gov/phishing

DYK you can authorize a designated user to view tax information and make payments for several tax forms in an #IRS Business Tax Account? Take a look at: ow.ly/A7ES50Wh1RR

Changed your business name? Get the details on how you can submit the change to the #IRS and find out if you need a new Employer Identification Number (EIN). ow.ly/Jv9850WpUYH

If you’re a business owner or authorized user interested in accessing and managing your business tax information, be sure to create an #IRS Business Tax Account. Visit ow.ly/jRTZ50WgQ4S

Did you know there are retirement plans for self-employed individuals and small business owners? Get the details: ow.ly/hFWg50WnfoL #IRS

#IRS tip: Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation. Learn more: ow.ly/R2Wh50WnffK

#Smallbiz owners, never stop learning. Check out the #IRS small business tax workshops, meetings and seminars that are happening in your state or nearby city. ow.ly/yGRU50WnfKU

Did you know you can get an Employer Identification Number, or EIN, for free directly from the #IRS in minutes? Apply today: ow.ly/xqow50Wng1t

Running a #Smallbiz? Don’t just protect your finances. Learn how to protect your business from phishing schemes and report them: irs.gov/phishing

#IRS reminder to #Smallbiz owners: Keep all records of employment taxes for at least four years after filing the 4th quarter for the year. Learn more, including what records should be included at: ow.ly/8e3c50Wh874

When starting up a business, you should first decide what form of business entity you want to create. Here’s everything you need to know about S corporations: ow.ly/BVaT50WnGRz #IRS

You can pay taxes, view records, get messages and do more with an #IRS Business Tax Account. Check out this #IRS tool at ow.ly/jRTZ50WgQ4S

The #IRS provides a disaster loss workbook for businesses designed to help you compile a room-by-room list of belongings or business equipment. See Publication 584-B, Business Casualty, Disaster and Theft Loss Workbook: irs.gov/pub584b

Anyone who needs to pay their federal tax bill has several options to make a payment to the #IRS quickly and securely. irs.gov/payments

Review any #IRS letter carefully. Compare it with your tax return. If you agree, make notes and keep it for your records. If you disagree or more info is needed, take action and follow the steps on the notice. Stay on top of your tax records: ow.ly/1lVB50VZrhg

Take a look at some basic questions and answers from the #IRS about the limitation on the deduction for business interest expense: ow.ly/7CrC50WjPGo