Many military spouses run businesses or do gig work, and whether it’s a side hustle or a major operation, the IRS has tax resources, tools and information to help them keep things running smoothly.
Tax resources on IRS.gov
- Small Business and Self-Employed Tax Center – Available at gov/smallbiz, this page has resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.
- Gig Economy Tax Center –The gig economy, also called sharing economy or access economy, is activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website. The Gig Economy Tax Center at gov/gigeconomy has information for gig workers trying to manage their taxes.
- Tax Information for Businesses –Tax information, tools and resources for businesses and self-employed individuals are available at gov/businesses.
- Employer Identification Number – Generally, businesses need an EIN, even if they don’t have employees. An EIN – also known as a Federal Tax Identification Number – identifies a business entity. Businesses can apply online at gov/EIN.
Tools to stay on top of tax deadlines and payments
- Online Tax Calendar – The Online Tax Calendar at gov/taxcalendar, shows due dates and actions for each month. Business owners can see all events or filter them by monthly depositor, semi-weekly depositor, excise or general event types. They can also have calendar reminders sent to their email or import the calendar into their calendar program.
- Electronic Federal Tax Payment System – Businesses can pay their federal taxes online or by phone with EFTPS, a free tax payment system, by visiting gov/EFTPS.
Learn with an IRS video series and then stay up to date with the latest IRS news
- Small Business Tax Workshop – Available in seven languages, this virtual workshop helps new business owners understand and meet their federal tax obligations. Business owners can choose which of the eight lessons apply to them. They can access the workshop at gov/sbworkshop.
- e-News Subscriptions – The IRS offers several e-news subscriptions on a variety of tax topics. There are specific e-newsletters for small businesses, payroll professionals, tax professionals, IRS partners and more. Taxpayers can subscribe by visiting gov/subscribe.
Are you wondering what tax resources are available to you for your business? If so, contact us today.