Do you know how many different business taxes you must pay? Which record-keeping process is most efficient? Do you compile all legally required information and avoid tracking and stockpiling useless data? These and other issues vital to entrepreneurs are covered in the Small Business Tax Education Program (STEP), a cooperative effort of the IRS and local organizations.
The comprehensive STEP program--much of which is free--is available through workshops, seminars and in-depth tax courses offered by community colleges, Small Business Development Centers, business associations and the IRS. Instructors provide training in starting a business, record-keeping, preparing business tax returns, self-employment tax issues and employee taxes. Entrepreneurs can also learn how to use Federal Tax Deposit Coupons, how to deal effectively with various IRS offices, and what help is available--and how to get it--from other federal, state and local agencies. Technical information on a series of tax topics specific to your business situation is also available.
While some courses are offered free of charge as a community service, those provided by educational facilities may end up costing you for materials and tuition. If you're preparing to start your own business, getting ready to hire your first employees or having a difficult time understanding your business tax rights and responsibilities, get in STEP by calling the IRS (800-829-1040). Ask for the Taxpayer Education Coordinator nearest you.