Tax Tip 2019-58: Recapping highlights from National Small Business Week 2019

 

IRS Tax Tips May 13, 2019

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Issue Number: Tax Tip 2019-58 Recapping highlights from National Small Business Week 2019 The IRS continues to highlight many resources available to help small business owners and self-employed individuals understand and meet their tax obligations. Here's a recap of key topics covered in IRS Tax Tips during this year's Small Business Week. How small businesses can connect with the IRS over social media. The IRS just launched its newest Twitter account created to offer information directly to small businesses. The Twitter handle @IRSsmallbiz joins several other IRS accounts that small business owners can visit on social media sites. Taking care of business: recordkeeping for small businesses. Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve. Whether they cut hair or cut lawns. Keeping good records is an important part of running a successful business. It pays for employers to file payroll taxes electronically. Business owners who file payroll and employment taxes using paper forms should consider filing these electronically. This tip has information on some of the forms employers can file electronically. Businesses should review depreciation deductions rules. This deduction can benefit eligible business taxpayers. The Tax Cuts and Jobs Act made changes to the rules around depreciation that will affect many businesses.  Small businesses can benefit from deducting vehicle costs on their taxes. Businesses that use a car or other vehicle may be able to deduct the expense of operating that vehicle on their taxes. Share this tip on social media -- #IRSTaxTip: Recapping highlights from National Small Business Week 2019. https://go.usa.gov/xmE8F   Back to Top         Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message.

 

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