Yes, folks, it's that time of year again. Tax time is on the way. (Stop running away...you can't hide. Sorry. Nice try though!)
It's almost the end of January, which means that some of you are just beginning to pull together the scraps and napkins you wrote out your financial plans on, and others are patiently waiting for that last 1099 to come in from the projects you worked on as an Independent Contractor so you can file everything on 1 February. Others are just starting their businesses and are looking a little confuzzled as we sit here and throw around terms like IRA, 1099, I-9, and the like.
Despite what some folks might say, Uncle Sam can be pretty helpful when it comes to dealing with the issues involved in taxes. Now, I'm not saying it's all fun and games, but there's no reason to throw the tea over the side of the boat just yet. If you're trying to figure out how to get an Employer ID Number (EIN) so you can hire your very first employee, or you need to know what business expenses are legitimate, here's a little tip:
Before you call up the CPA and ask a question that will get you a bill for $200 an hour, try hitting the IRS website for the answers. Yeppers, it's there, and it's free of charge. You can even learn about tax scams, file your return electronically or *gulp* pay your taxes there too.
Oh, and by the way...that EIN issue? Answered here, along with an online application form. Those business expenses? Find the list of deductable expenses, along with links to the publications that explain them, here.
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