Special Edition Tax Tip 2016-06: IRS Marks Small Business Week 2016 with Four Webinars

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Issue Number:    Special Edition Tax Tip 2016-06

Inside This Issue

IRS Marks Small Business Week 2016 with Four Webinars

As the nation celebrates Small Business Week May 1-7, the IRS will host four free webinars. The webinars will help small business owners with their taxes. The IRS also highlights popular products and services available on IRS.gov.

Here are some details about the free webinars:

1. Tax Tips for Your New Business, May 2. Small business owners and tax professionals with small business clients who may be starting new endeavors are the focus of this webinar.

Topics include:

• Deciding if it’s a business or hobby
• Selecting a business structure.
• Understanding business taxes.
• Recordkeeping requirements.
• Choosing a tax preparer.
• Finding out where to go for IRS help.

2. Staying Afloat: Planning for Emergencies Before they Happen, May 3. Small business owners, tax professionals and payroll organizations learn about emergency preparedness in this broadcast.

Topics include:

• Business continuity planning.
• How to create an emergency plan.
• Employee preparedness.
• Payroll continuity and supply chain protection.
• Protecting your records and data.
• What happens after a disaster is declared.
• IRS resources to help you plan.

3. Worker Classification: Employee or Independent Contractor? May 4. This webinar is in Spanish. It teaches Spanish-speaking small business owners, tax professionals and payroll organizations how to classifying workers.

Topics include:

• Differences between employees and independent contractors.
• Common law rules.
• Form SS-8.
• Employment tax obligations.
• Voluntary classification settlement program.

4. Tip Reporting and Tips vs. Service Charges, May 5. This webinar provides small business owners, employers, tax professionals and payroll organizations with details on tips and reporting.

 Topics include:

• Recordkeeping and reporting responsibilities.
• Understanding the difference between tips and service charges.
• Filing Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips.

All four webinars are an hour long and start at 2 p.m. (ET). Live Q&A sessions with IRS experts will be available. To register and to find out more visit the Webinars for Small Businesses page on IRS.gov.

Many other IRS products and services provide small business owners with the help they need. Here are three pages that you can check out anytime:

• The Small Business and Self-Employed Tax Center is your complete tax resource. For example, you can link to a list of free workshops and events offered in your area. Or visit the IRS Video Portal to watch videos on a wide range of topics, including prior live webinars.
• The Self-Employed Individuals Tax Center is for sole proprietors and others who are in business for themselves. This site has many useful tips and references to the tax rules that a self-employed person may need to know.
• The Online Learning and Educational Products page has tools that can help you learn about taxes on your own time, and at your own pace. For example, the IRS Tax Calendar for Businesses and Self-Employed has important tax dates for your business.

Visit IRS.gov to get small business forms and publications. You can also call 800-TAX-FORM (800-829-3676) to get them by mail.

Follow the IRS on Twitter. The IRS has three key accounts: @IRSnews, @IRStaxpros and @IRSenEspanol. For all the IRS Small Business Week information, keep an eye on these IRS Twitter accounts and the key hashtags: #IRSsbw16 and #DreamSmallBiz.

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