Most businesses start out small. As a new business owner you need to know your federal tax responsibilities. This page provides links to basic federal tax information for people who are starting a business. It also provides information to assist in making basic business decisions. The list should not be construed as all-inclusive. Other steps may be appropriate for your specific type of business.
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Is it a Business or a Hobby?
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Selecting a Business Structure
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Employer Identification Number (EIN)
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Business Taxes
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Recordkeeping
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When Do I Start My Tax Year?
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Selecting an Accounting Method
There are various options for entering a business of your own. The most common entry options are:
- Buying an Existing Business
- Purchasing a Franchise Business
- Joint Ventures, Distributorships or Strategic Alliances
- Starting a New Business
- Financing an Expansion
- Choosing A Location For Your Business
No matter how small the business is, money is necessary to start a small business. The money to start a small business can come from a variety of sources and it generally takes several sources to provide all the money that is needed. Some of the sources that may be available to help you start your small business are listed below:
- Personal Resources
- Banks
- Non-Bank Lenders
- SBA Financing
- Venture Capitalists
- Angel Investors
- Sale of Stock
- Other Financing Methods to Consider
- Tips for Getting and Using Small Business Credit
