Friday, September 01, 2006

I got 2 letters from the IRS!

Yesterday I came home to find two manila envelopes marked "Time Sensitive" from the IRS. I got a little wigged out at first but after I opened them I wasn't too concerned.

I'm starting up a small business (details in a few weeks) and of course I went to the IRS website to get the scoop (and an EIN). I also ordered (for free!) a small business tax workshop DVD and a tax calendar - you can go here and order one yourself if you like. I think that the IRS is doing a really great job with the educational materials for small business owners - this DVD includes a series of videos which talk about tax issues important to small businesses, which you can also watch online.

If you've ever thought about setting up your own business, this is a pretty good place to start. As a sole proprietor with no employees, my taxes will be pretty straightforward, but there's lots of guidance if your situation is more complicated.

4 comments:

Flexo said...

Neat! I got my EIN last year but haven't used it for anything yet. I ordered the DVD. Thanks for letting me know about this. :>

prlinkbiz said...

Hey girl great for getting your own biz going. You may want to rethink being sole propritetor- your assets are literally on the line. Do some research, you might find that an LLC ( or S or C Corp) might be a better entity, both for tax and legal protection purposes. You can set one up yourself very inexpensively ($80 here in AZ).

Wanda said...

Good luck with your own business ... can't wait to hear more about it1!

SavvySunshine said...

I ordered some of the products. Thanks for the head-up!

Sunshine