Federal Income Tax Obligations

The thought of spending time reading about income taxes probably rates right up there with having a root canal without painkillers. What's more, if you're like most small business owners, you pay an accountant or other professional adviser to handle your taxes.

So why should you spend your time reading about income taxes? One good reason is that you'll have a much better understanding of the various tax choices that your tax pro may lay out for you. Also, with a little knowledge on selected topics, you'll be able to identify potential tax advantages - and tax traps - in time to do something about them. Wouldn't it be nice not to hear your tax pro say, "I could have saved you a lot of money if you had told me sooner that you were thinking about . . . ."

In helping you take control of your federal income taxes, our goal is to call your attention to those income tax provisions most likely to affect a small business owner. For starters, we've tackled these topics:

Business Tools

Among the Business Tools are a selection of common IRS tax forms. They are in Adobe Acrobat .pdf format, and you will need Acrobat Reader 4.0 to view the files and print them. A free version of Acrobat 4.0 is available in the Business Tools area as well.