Small Business Taxes

How to file taxes for a business or small business

As a business owner, it is important to understand your federal, state and local tax requirements. This will help you file your tax returns correctly with the IRS using your online IRS EIN Tax ID and make your payments on time. The business structure you choose when starting a business will determine what taxes you must pay and how to pay them.

Disaster Tax Relief

The Internal Revenue Service (IRS) offers special tax help Pensacola FL to individuals and businesses recovering from a natural disaster or emergency.

Find information on tax relief for the COVID-19 pandemic.

Get your refund faster

If you live in a federally declared disaster area, you may be able to get reimbursement faster by filing an amended return. You will need to claim disaster-related losses on your prior year tax return.

Get guidance from the IRS on how to file an amended return or request an extension after a disaster.

Estimated taxes

Estimated tax is the method used to pay taxes on income that is not subject to withholding. This includes self-employment income, interest, and dividends. You may also have to pay estimated tax if the amount of income tax that is withheld from your salary, pension, or other income is not enough.

Tax incentives for saving energy consumption

Energy-efficient appliances and energy-saving upgrades can provide you or your business with tax credits and savings.

Find out if you are eligible for state, local, utility and federal incentives

Tax deductions for charitable business donations

Small businesses and individuals generally have the same requirements when claiming a federal tax deduction for charitable donations (PDF, download Adobe Reader). But there are some important issues that companies need to be aware of.

  • Donated services are not deductible. Expenses related to a donation, such as travel or supplies, may be deductible. 
  • The inventory of donated non-food products must be reported according to certain specific requirements. These requirements are different from donated vehicles.
  • Donated food must be reported according to specific requirements.
  • Donated intellectual property must be reported in accordance with specific requirements.

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