Accounting Resources: A Guide to Taxes

The United States tax system has been impacted by considerable changes over the decades. These changes are reflected in historical events such as war, changes in the economy and society spending. Taxes are financial payments made to the government. Every citizen and business that meets the income requirements must file income tax. It is essential to use the correct file forms. To file taxes you must first determine your filing status (whether your married, single or a business entity) and exemptions. Then you must calculate your income and deductions. Use these numbers to determine, income tax, credit and additional taxes. Once you calculate your total payments you can see how much you under or over paid. If there are any inconsistencies or failure to file taxes a person or a business can be fined heavily. These resources will help answer fundamental and basic questions concerning taxes.

Businesses & Non-Profits

Getting Started

• Tax Empty Letters: A guide to filing IRS tax exemption.
• Healthcare Tax Credit: A guide to qualifying for the healthcare tax credit.
• Business Forms & Publications: Several dorms and publications for small business and the self-employed.
• Small Business: Business tax guide to federal taxes for income tax, self-employment tax and employment taxes.
• Setting up a Non Profit: This paper provides help and advice for filing for nonprofit tax exemption.

Organization/Bookkeeping

• Quick guide to bookkeeping: A list of basics for small business bookkeeping.
• Bookkeeping Taxes: A list of PDF files that provide bookkeeping tools.
• Keeping Your Books in Order: Steps to creating effective accounting and bookkeeping for your business.
• Tips for Bookkeeping: Eight bookkeeping tips for small businesses
• Organize for Easier Accounting: Four tips to organizing for proper accounting.

Reporting/Filing

• Tax Reporting and Withholding Information: A tax reporting and withholding quick reference guide.
• Tax Filing Deadlines: Deadlines by month for filing taxes.
• Filing an Extension: Help on filing a valid extension.
• Filing Taxes: FAQ’s for filing taxes.

Individuals & Families

• Keep Your Refund: Tips for getting the most out of your refund.
• Record Keeping: Answers to common questions about record keeping.
• Tax Preparation Tips: Tips for making tax preparation simpler.
• Automatic Revocation: Explains the process of the automatic revocation tax-exempt status.
• Tax Tips: A list of tax tips for making tax season easier.
• Choosing a Tax Preparer: The University of Michigan provides a guide to finding the right tax preparer for your situation.
• Getting out of Debt: Three basic thought-out tips to getting on the road to being debt free.
• Tax Rights: A collection of resources detailing the rights of taxpayers.
• Saving Money: According to the Federal Reserve saving is the key to getting out of debt.
• Do you Need a Tax Preparer?: The Sacramento County of Public Law Library gives advice for choosing a tax preparer if your tax return is complicated.