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A Few Useful Links for Taxpayers and Business Owners

This is only a few useful links of popular topics from the IRS website

Are you my Dependant

Informatoin you will need, Marital status, relationship to the dependent, and the amount of support provided. Basic income information. When you have gathered this information, hit begin to start the interactive quiz.

Sign in to your IRS Account

Log into your IRS account to get transcripts, check balance due, make estimated payments, get tax notices and more.

Get an Identity Protection Pin to protect against Identity Theft

An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN). The IP PIN is known only to you and the IRS. It helps us verify your identity when you file your electronic or paper tax return. Even though you may not have a filing requirement, an IP PIN still protects your account. If you are a confirmed victim of tax-related identity theft, they will mail you a CP01A Notice with your new IP PIN each year. If you don't already have an IP PIN, you may get an IP PIN as a proactive step to protect yourself from tax-related identity theft.

Get an EIN

Get an EIN for your new business. Hours of operation Monday to Friday, 7 a.m. to 10 p.m. Eastern Standard Time. Step 1: Determine your eligibility You may apply for an EIN online if your principal business is located in the United States or U.S. Territories. The person applying online must have a valid Taxpayer Identification Number (SSN, ITIN, EIN). You may only apply for one EIN per day.

Tax Guide for Small Business

Publication 334, Tax Guide for Small Business. This publication provides general information about the federal tax laws that apply to you if you are a self-em- ployed person or a statutory employee. This publication has information on business income, expenses, and tax credits that may help you, as a small business owner, file your income tax return..

Medical and Dental Expenses

Publication 502 - Medical and Debtal Expenses explains the itemized deduction for medical and dental expenses that you claim on Schedule A (Form 1040), including: What expenses, and whose expenses, you can and cannot include in figuring the deduction. How to treat reimbursements and how to figure the deduction. How to report the deduction on your tax return and what to do if you sell medical property or receive damages for a personal injury.

Child and Dependant Care Expenses

Publication 503. This publication explains the tests you must meet to claim the credit for child and dependent care expenses. It ex- plains how to figure and claim the credit. You may be able to claim the credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who isn't able to care for them- selves. The credit can be up to 35% of your employ- ment-related expenses. To qualify, you must pay these ex- penses so you (or your spouse if filing jointly) can work or look for work. This publication also discusses some of the employ- ment tax rules for household employers.

Tax Information for Homeowners

Publication 530, This publication provides tax information for homeowners. This publication explains how you treat items such as settlement and closing costs, real estate taxes, sales taxes, home mortgage interest, and repairs. The following topics are explained. • What you can and can’t deduct on your tax return. • The tax credit you can claim if you received a mort- gage credit certificate when you bought your home. • Why you should keep track of adjustments to the basis of your home. (Your home's basis is generally what it cost; adjustments include the cost of any improve- ments you might make.) .

Tax Information for Corporations

Publication 542, This publication discusses the general tax laws that apply to ordinary domestic corporations. It explains the tax law in plain language so it will be easier to understand. However, the information given does not cover every situation and is not intended to replace the law or change its meaning.

Depreciation

Publication 946, Depreciation. This publication explains how you can recover the cost of business or income-producing property through deductions for depreciation (for example, the special depreciation allowance and deductions under the Modified Accelerated Cost Recovery System (MACRS)). It also explains how you can elect to take a section 179 deduction, instead of depreciation deductions, for certain property and the additional rules for listed property.

Tax Information for Partnerships.

Publication 541, Tax information for Partnerships.This publication provides supplemental federal income tax information for partnerships and partners. It supplements the information provided in the Instructions for Form 1065, U. S. Return of Partnership Income; the Partner's Instructions for Schedule K-1 (Form 1065).

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Useful Links

We have put together a few useful links that you may find useful.

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