Tax Tips for the Self Employed

It’s tax time in the US. As a small business owner tax time is no fun. But happily there is a lot of information out there to help you out.

The IRS has put together a series of small business tax workshops, phone forums and webinars. These tax helps are sponsored and presented by IRS partners. The phone forums and webinars are free and for the workshops most of them are free but a few do have fees associated with them (check the one you are interested in for specifics). Click here for more information.

Self Employed? Here is the IRS section on information, tax forms, and tips for the self employed. Click here.

The IRS also has a series of products for the small business owner. A Tax Calendar, Small Business Resource Guide, and Small Business Tax Responsibilities are just some of the titles you can find here.

Also before you file your taxes go through this simple checklist to see if it would be better to hire a tax professional.

Here are the reasons why you would hire a tax professional:

• If you are not fully familiar with how to prepare taxes.
• If you do not understand the tax code in your state.
• If you have to itemize your deductions.
• If you do not want to deal with the IRS one on one.
• If you own a business.
• If you don’t understand the questions on the tax form.
• If you have stocks, bonds or other mutual funds.
• If you’re retired and are unsure of your tax status.
• If you’ve researched online, but are more confused by the answers than ever.

There are so many things you may not be aware of that can save you time, money and a headache that wonít quit by hiring a tax professional.
With tax laws constantly changing, sometimes it is better to put yourself in the hands of someone who is knowledgeable in this area, than stressing over what and how to do it yourself.

H&R Block has a great online solution for small business owners. Taxcut software online or download. From Basic to Premium there is a tax solution for your needs.

With the H&R Block Online Solution you can purchase a package that pairs you with a tax professional from begining to end. Get your taxes done right.