Business Tax Foundations

Discover how to complete and submit business tax forms. Learn what needs to be submitted to the IRS, when it needs to be submitted, and the essentials of completing these tax forms.

Introduction

• Business taxes foundations

1. Quarterly Taxes: Federal and State Level

• Business taxes 101
• EIN numbers and setting up to pay taxes
• Registering and using EFTPS
• Filing 941 interim payment reports
• Quarter-end 941 forms
• Quarterly 941 reconciliation
• What is SUTA or SUI?
• SUTA: Reducing your rate
• Filing SUTA: The big quarterly hit
• Filing FUTA: The little quarterly hit

2. Annual Taxes: Federal and State Level

• Creating W2s
• What's in a W2?
• Submitting your W3
• W3 filings with the government
• State W3s: The other W3 form
• Form 1099: The different types
• 1099-INT forms
• K-1s: For partnerships and investments
• The 940 form
• Record keeping and ordering tax forms

3. Monthly Taxes: State Level

• Sales tax basics
• Sales tax record keeping
• Filing sales tax forms
• Internet businesses and sales taxes

4. Business Owner Taxes

• Business owner taxes: Annual payments
• Business owner taxes: Doing quarterlies
• Using a SEP to reduce your annual taxes
• The pass-through tax break

Conclusion

• Next steps