Following my recent article here is one more about useful Internet services of IRS.  Ron Consolino reports:

Though the IRS may be the agency everyone loves to hate, it only manages the tax laws and policies that Congress passes. To its credit, the agency has taken several initiatives to benefit owners and the self-employed by providing much-needed guidance to tax procedures and requirements without those confusing “Gov-speak” terms.

One of the chief improvements is a special Web site, www.irs.gov/smallbiz. This is an authoritative place to give yourself a tax tune-up.

A section called “A-Z Index for Business,” for example, covers a tremendous amount of tax territory and includes much of the site’s most useful information. This is where you’ll find information on online learning and educational products, record keeping, employer ID numbers and selecting a business structure.

There’s also help answering a key tax-related question: Is what you are doing a true business or merely a hobby? If the IRS decides your “business” is really just a hobby, your expenses may not be deductible. Look for its eight-point checklist to see how you stack up.

Also visit the “Industries/Professions” section for specific information about tax regulations that may apply to your type of business.

The advice and information under “Operating a Business” are helpful for just about any type of small business.

If you have employees, you’ll find resources on hiring, employment taxes and wage reporting requirements. You can learn about business tax credits and estimated taxes. The all-important Business Expenses section defines the types of costs you can and cannot deduct from your taxes.

For the self-employed and independent contractors, there’s a full section that covers filing requirements, when a tax identification number is necessary, a listing of special publications and forms, and other valuable information.

The entire article is available here.

Oh, you are small business owner..  So, be aware of every dollar that goes out the door. But before you run to your local bookstore to buy a “complete tax guide” take a look on a new IRS service “Small Business Filing Season Central” claimed to be a one-stop assistance center for filing your business returns.

Easy to use, new tax forms, publications, highlights of recent tax law development, where to file, what are typical tax fraud scams…

This service is an ultimate tool to keep abreast of the latest tax-related issues that could affect your business and after all TO SAVE YOUR MONEY.