Bootstrapping entrepreneurs need as many low to no-cost resources as they can get their hands on to start and run their businesses.
A good, free resource for start-up tax information to check out is the IRS Virtual Workshop. The surprisingly modern interactive site is designed to help new businesses owners understand federal tax obligations and procedures. Users can choose from nine different lessons:
- What you need to know about federal taxes and your new business;
- How to set up and run your business so paying taxes is not a hassle;
- How to file and pay your taxes using a computer;
- What you need to know when you run your business out of your home;
- How to set up a retirement plan for yourself and your employees;
- What you need to know about federal taxes when hiring employees/contractors;
- How to manage payroll so you withhold the right amount from employees;
- How to make tax deposits and file your payroll taxes using a computer;
- What you need to know about Federal Unemployment Taxes (FUTA).
The site is a good place to start your education on federal business taxes or to brush up on information you may want to ask your CPA about.
