IRS Publication 334 – Tax Guide for Small Business
IRS Publication 334 is a comprehensive resource for small business owners who need to understand their federal tax obligations. The publication covers a wide range of topics, including:
- How to determine if you are self-employed
- What types of business expenses are deductible
- How to report your business income and expenses on your tax return
- Tax credits that may be available to small businesses
Here are some of the key things small business owners should know about IRS Publication 334:
- The publication is available for free on the IRS website.
- It is updated annually to reflect changes in the tax law.
- Links to relevant forms and links to up-to-date versions.
- There are also several appendixes that provide additional information on topics such as recordkeeping and tax credits.
- It is a great reminder of why you pay a CPA.