Introduction

View CD Content : IRS and Tax Issues

Business Licenses

Certificate of Occupancy

Business Organization

Fictitious Business Name

Protecting Your Idea

Industrymarks

State Registration of Industrymark

Federal Registration of Industrymark

Patents

Copyrights

Business Insurance

State Sales Tax Number

Other Considerations

Unemployment Insurance Tax

Immigration Act

Health and Safety (OSHA)

Workers Compensation

Minimum Wage

Bar Coding

FEDERAL TAX INFORMATION:

Federal Employer Identification Number/Form SS-4

Record keeping

Accounting Periods & Methods

Changes in accounting methods

Changes in accounting periods

What is business income?

What are business expenses?

Accounting/bookkeeping Expense

Advertising

Amortization

Business Bad Debts

Business Gifts

Business Interest

Car & Truck Expenses

Casualty Losses

Commissions

Contributions

Depreciation of Business Property

Dues and Subscriptions to Professional Publications

Educational Expense

Entertainment

Excise Taxes

Fees

Franchise Payments

Home Office /Business Use of Your Home

Insurance

Inventory

Legal Fees

Licenses

Patents /Copyrights/Agreements not to Compete

Promotional Materials (not considered business gifts)

Rent and Utilities

Repairs & Maintenance

Start-up Costs

Supplies & Materials

Tax Preparation Fee

Taxes

Travel & Entertainment

Health Insurance Deduction for the Self-Employed

General Business Credits

Special Provisions for Corporations

Special Provisions for S-Corporations

Special Provisions for Partnerships

Special Provisions for LLCs

Individual Retirement Arrangement (IRA)

Passive Activities and At Risk Rules

What are business assets?

Basis for Assets

Depreciation

Sale or Other Disposition of Assets

Direct Sellers

Alternative Minimum Tax

What are business taxes?

Penalties

Market Segment Understandings (MSUs)

Market Segment Specialization Program Audit Technique Guides

Disaster Information

Electronically Filing Your Taxes

E-Filing

Tele-Filing

Electronically Paying Your Taxes/EFTPS

What is EFTPS

How does it Work

What taxes can be paid electronically?

Who can use EFTPS?

Who is using EFTPS?

How do I enroll?

Frequently asked questions about EFTPS

Federal Tax Deposits

Importance of Timely Deposits

Business Losses

Net Operating Loss

Hobby Loss

Casualty Loss

Where to File

Changing Your Address

What to do if you receive a notice

Understanding Your Rights

TBOR II

Rights During Tax Disputes

NUMERICAL LISTING OF IRS BUSINESS PUBLICATIONS

1 YOUR RIGHTS AS A TAXPAYER

Declaration of Taxpayer Rights

Examinations, Appeals, Collections, and Refunds

5 APPEAL RIGHTS AND PREPARATION OF PROTESTS FOR UNAGREED CASES

15 EMPLOYER'S TAX GUIDE

Employer Identification Number (EIN)

Who Are Employees?

Family Employees

Employee's Social Security Number (SSN)

Wages and Other Compensation

Tips

Supplemental Wages

Payroll Period

Withholding From Employees' Wages

Advance Earned Income Credit (EIC) Payment

Depositing Taxes

Filing Form 941

Reporting Adjustments on Form 941

Federal Unemployment (FUTA) Tax

How To Use the Income Tax Withholding and Advance Earned Income Credit (EIC) Payment Tables

15 A EMPLOYER'S SUPPLEMENTAL TAX GUIDE

Who Are Employees?

Employee or Independent Contractor?

Employees of Exempt Organizations

Religious Exemptions

Wages and Other Compensation

Employee Fringe Benefits

Sick Pay Reporting

Special Rules for Paying Taxes

Pensions and Annuities

Alternative Methods for Figuring Withholding

Formula Tables for Percentage Method Withholding (for Automated Payroll Systems)

Wage Bracket Percentage Method Tables (for Automated Payroll Systems)

Combined Income Tax, Employee Social Security Tax, and Employee Medicare Tax Withholding Tables

Tables for Withholding on Distributions of Indian Gaming Profits to Tribal Members

17 YOUR FEDERAL INCOME TAX

The Income Tax Return

Income

Gains and Losses

Adjustments to Income

Standard Deduction and Itemized Deductions

Figuring Your Taxes and Credits

51 AGRICULTURAL EMPLOYER'S TAX GUIDE

Taxpayer Identification Numbers

Who Are Employees?

Taxable Wages

Social Security and Medicare Taxes

Income Tax Withholding

Advance Earned Income Credit (EIC) Payment

Deposit Requirements

Form 943

Adjustments on Form 943

Federal Unemployment (FUTA) Tax

Records You Should Keep

Reconciling Wage Reporting Forms

Income Tax Withholding Methods

Advance Earned Income Credit (EIC) Payment Methods

225 FARMER'S TAX GUIDE

Chap 1 - Importance of Good Records

Chap 2 - Filing Requirements and Return Forms

Chap 3 - Accounting Periods and Methods

Chap 4 - Farm Income

Chap 5 - Farm Business Expenses

Chap 6 - Soil and Water Conservation Expenses

Chap 7 - Basis of Assets

Chap 8 - Depreciation, Depletion, and Amortization

Chap 9 - General Business Credit

Chap 10 - Gains and Losses

Chap 11 - Dispositions of Property Used in Farming

Chap 12 - Installment Sales

Chap 13 - Casualties, Thefts, and Condemnations

Chap 14 - Alternative Minimum Tax

Chap 15 - Self-Employment Tax

Chap 16 - Employment Taxes

Chap 17 - Retirement Plans

Chap 18 - Excise Taxes

Chap 19 - Your Rights as a Taxpayer

Chap 20 - Sample Return

Chap 21 - How To Get More Information

334 TAX GUIDE FOR SMALL BUSINESS

Chap 1 - Filing and Paying Business Taxes

Chap 2 - Accounting Periods and Methods

Chap 3 - Dispositions of Business Property

Chap 4 - General Business Credit

Chap 5 - Business Income

Chap 6 - How To Figure Cost of Goods Sold

Chap 7 - Figuring Gross Profit

Chap 8 - Business Expenses

Chap 9 - Figuring Net Profit or Loss

Chap 10 - Sample Returns

Chap 11 - Your Rights as a Taxpayer

463 TRAVEL, ENTERTAINMENT, GIFT, AND CAR EXPENSES

Chap 1 - Travel Expenses

Chap 2 - Entertainment Expenses

Chap 3 - Business Gift Expenses

Chap 4 - Local Transportation Expenses

Chap 5 - Record keeping

Chap 6 - How To Report

502 MEDICAL AND DENTAL EXPENSES

What Form Is Used?

How Much Can You Deduct?

What Expenses Can You Include This Year?

Whose Medical Expenses Can You Include?

Decedents

Medical Care

Medical Expenses

Impairment-Related Work Expenses (Business or Medical)

Insurance Reimbursement

Sale of Medical Property

Settlement of Damage Suit

How To Figure Your Deduction

505 TAX WITHHOLDING AND ESTIMATED TAX

Chap 1 - Tax Withholding for 2000

Chap 2 - Estimated Tax for 2000

Chap 3 - Credit for Withholding and Estimated Tax for 1999

Chap 4 - Underpayment Penalty for 1999

Chap 5 - How To Get More Information

508 EDUCATIONAL EXPENSES

Qualifying Education

Non-qualifying Education

What Educational Expenses Are Deductible?

How To Treat Reimbursements

Employer-Provided Educational Assistance

Record keeping

Illustrated Example Using Form 2106-EZ

529 MISCELLANEOUS DEDUCTIONS

Deductions Subject to the 2% Limit

Deductions Not Subject to the 2% Limit

Nondeductible Expenses

How To Report

533 SELF-EMPLOYMENT TAX

General Information

Who Must Pay Self-Employment Tax

Self-Employment Income

Figuring Self-Employment Tax

Reporting Self-Employment Tax

535 BUSINESS EXPENSES

Chap 1 - Deducting Business Expenses

Chap 2 - Employees' Pay

Chap 3 - Meals and Lodging Furnished to Employees

Chap 4 - Fringe Benefits

Chap 5 - Employee Benefit Programs

Chap 6 - Retirement Plans

Chap 7 - Rent Expense

Chap 8 - Interest

Chap 9 - Taxes

Chap 10 - Insurance

Chap 11 - Costs You Can Deduct or Capitalize

Chap 12 - Amortization

Chap 13 - Depletion

Chap 14 - Business Bad Debts

Chap 15 - Electric and Clean-Fuel Vehicles

Chap 16 - Other Expenses

536 NET OPERATING LOSSES

NOL Steps

How To Figure an NOL

When To Use an NOL

How To Claim an NOL Deduction

How To Figure an NOL Carryover

NOL Carryover From 1999 to 2000

538 ACCOUNTING PERIODS AND METHODS

User Fees

Accounting Periods

Accounting Methods

Cash Method

Accrual Method

Inventories

Change in Accounting Method

541 PARTNERSHIPS

Forming a Partnership

Terminating a Partnership

Exclusion From Partnership Rules

Tax Year

Partnership Return (Form 1065)

Penalties

Partnership Income or Loss

Partner's Distributive Share

Partnership Distributions

Transactions Between Partnership and Partners

Basis of Partner's Interest

Disposition of Partner's Interest

Adjusting the Basis of Partnership Property

Form 1065 Example

542 CORPORATIONS

Business Taxed as a Corporation

Nontaxable Exchange of Property for Stock

Capital Contributions

Paying and Filing Income Taxes

Income and Deductions

Figuring Taxable Income

Figuring Tax

Accumulated Earnings Tax

Distributions to Shareholders

Sample Returns

544 SALES AND OTHER DISPOSITIONS OF ASSETS

Chap 1 - Gain or Loss

Chap 2 - Ordinary or Capital Gain or Loss

Chap 3 - Ordinary or Capital Gain or Loss for Business Property

Chap 4 - Reporting Gains and Losses

547 CASUALTIES, DISASTERS, AND THEFTS

Casualty

Theft

Loss on Deposits

Proof of Loss

Figuring a Loss

Deduction Limits

Figuring a Gain

When To Report a Gain or a Loss

Disaster Area Losses

How To Report Gains and Losses

551 BASIS OF ASSETS

Cost Basis

Adjusted Basis

Other Basis

553 HIGHLIGHTS OF 1999 TAX CHANGES

Chap 1 - Tax Changes for Individuals

Chap 2 - Tax Changes for Businesses

Chap 3 - IRAs and Other Retirement Plans

Chap 4 - Excise Taxes

Chap 5 - Exempt Organizations

Chap 6 - Foreign Issues

Chap 7 - Taxpayer Rights

554 OLDER AMERICANS' TAX GUIDE

1999 Filing Requirements

Taxable and Nontaxable Income

Social Security and Equivalent Railroad Retirement Benefits

Sale of Home

Adjustments to Income

Standard Deduction

Itemized Deductions

Credit for the Elderly or the Disabled

Child and Dependent Care Credit

Earned Income Credit

Estimated Tax

556 EXAMINATION OF RETURNS, APPEAL RIGHTS, AND CLAIMS FOR REFUND

Examination of Returns

Appeal Rights

Claims for Refund

560 RETIREMENT PLANS FOR SMALL BUSINESS

Definitions You Need To Know

Simplified Employee Pension (SEP)

SIMPLE Plans

Qualified Plans (Keogh Plans)

583 STARTING A BUSINESS AND KEEPING RECORDS

What New Business Owners Need To Know

Forms of Business

Identification Numbers

Tax Year

Accounting Method

Business Taxes

Information Returns

Penalties

Business Expenses

Record keeping

Where To Go for Help

587 BUSINESS USE OF YOUR HOME

Qualifying for a Deduction

Figuring the Deduction

Deducting Expenses

Depreciating Your Home

Day-Care Facility

Sale or Exchange of Your Home

Business Furniture and Equipment

Record keeping

Where To Deduct

Schedule C Example

Instructions for the Worksheet

How To Get More Information

Help With Unresolved Tax Problems

590 INDIVIDUAL RETIREMENT ARRANGEMENTS

Chap 1 - Traditional IRAs

Chap 2 - Roth IRAs

Chap 3 - Education IRAs

Chap 4 - Simplified Employee Pension (SEP)

Chap 5 - Savings Incentive Match Plans for Employees

911 DIRECT SELLERS

Who Is a Direct Seller?

Basic Tax Information

Business Income

Capital Expenses

Cost Recovery

Business Expenses

Business Use of Your Home

Travel and Transportation