IRS Marks National Small Business Week With Useful Tips
Utica, NY (WIBX) - It's National Small Business Week and in recognition of the event, the IRS is informing small business owners about products that can provide useful information when filing taxes, and staying in compliance with the agency.
Dianne Besunder, IRS Spokesperson for New York State says there are a number of different options small business owners should look into since new legislation was passed during the 2010 Congress. For example she says there is a new healthcare tax credit, "And also accelerated right-offs, and that's basically, if they buy certain assets for their businesses, they can look into ways that they can write off the cost of it much sooner, reduce current year income and safe taxes now," she said.
Besunder says it's an advantage for small business owners to know how they can legally benefit from some of the new provisions of the law. She said, "If you're running a small business, any break that you can get under the law, you should definitely look into and take advantage of." She says some of the products small business owners can benefit from can be found at www.irs.gov. She said small business owners don't necessarily have to be a tax expert but knowing the basics will help them run their business more efficiently.
When visiting the IRS website, go to the Small Business Tax Center to find out about the different products, useful information, scheduled events, including a useful guide from starting a small business to closing one.