Free and cheap resources for home-based businesses - directory of available government publications and services

Home Office Computing, March, 1992

Educational Expenses (#508) explains how, if you take educational courses, you may be able to deduct these expenses from your taxes.

Examination of Returns, Appeal Rights, and Claims for Refund (#556) explains the procedures for the examination of items of partnership income, deduction, gain, loss, and credit.

Interest Expense (#545) tells you how to deduct interest payments on loans.

Moving Expenses (#521) explains how you can deduct moving expenses when you relocate.

Sales and Other Dispositons of Assets (#544) explains how to figure gain and loss on such transactions as trading or selling an asset used in a business, along with the tax results of different types of gains and losses.

Self-Employed Retirement Plans (#560) discusses retirement plans (Keogh plans) for self-employed individuals and certain partners in partnerships.

Self-Employment Tax (#533) explains the self-employment tax (i.e., Social Security tax) that self-employed people must pay.

Tax Guide for Small Business (#334) explains the federal tax laws that apply to businesses, including the four major forms of business organizations--sole proprietorships, partnerships, corporations, and S corporations--along with the tax responsibilities for each. There are also invidual leaflets for these three types: Tax Information on Corporations (#542), Tax Information on Partnerships (#541), and Tax Information on S Corporations (#589).

Tax Information for Direct Sellers (#911) gives you helpful information if your business involves selling products to others on a person-to-person basis, such as door-to-door sales, sales parties, or by appointment in your home.

Taxpayers Starting a Business (#583) shows sample records that a small business can use if it operates as a sole proprietorship. Records like these will help you prepare complete and accurate tax returns and make sure you pay only the tax you owe.

Travel, Entertainment, and Gift Expenses (#463) explains what expenses you may deduct for business-related travel, meals, entertainment, and gifts, along with the reporting and record-keeping requirements for these expenses.

Free Tax Advice from Experts

Internal Revenue Service, 1111 Constitution Ave. New, Washington, DC 20224; (800) 829-1040, or contact your local IRS office.

Private studies show that your chances of saving money on your tax bill are the same whether you go to the IRS or to a high-priced consultant for help. The problem is that most people don't know how to call the IRS to get the right answer. If the person at the IRS hotline seems a little unsure of an answer, or if you just want another opinion, ask the IRS person to have a specialist call you back. Within 7 to 10 business days you should get a call from an IRS expert whose specializes in your area of interest.

Fix Bad Credit

Contact your County Cooperative Extension Service, listed under county government in your phone book. Or Consumer Credit Counseling Service, National Foundation for Consumer Credit, 861 Second Ave., Suite 100, Silver Spring, MD 20910; (301) 589-5600, (800) 388-CCCS.