e-News for Small Business, Issue 2019-09

IRS celebrates Small Business Week

Below you will find business-related tax information in recognition of this week’s National Small Business Week campaign, sponsored annually by the Small Business Administration and in partnership with the IRS.

IRS urges data security, paying estimated taxes; highlights tax benefits, online resources

The IRS has many online resources to help small business owners and self-employed individuals handle the tax aspects of their business.

New requirement applies to any business seeking a tax ID number; IRS offers data security tips

Starting May 13 an important change will affect the way the IRS issues employer identification numbers, or EINs.

IRS urges businesses to make estimated tax payments so they don’t owe

Business owners and those who are self-employed can avoid a surprise tax bill by making estimated tax payments during the year.

IRS spotlights expanded tax benefits for depreciation and expensing

In some cases, tax reform changes that impact depreciation and expensing allow small business owners to write off the cost of certain property more quickly.

Backup withholding rate now 24 percent, bonuses 22 percent; workers urged to do a Paycheck Checkup

Recent tax reform legislation lowered the backup withholding tax rate to 24 percent and the withholding rate that usually applies to bonuses and other supplemental wages to 22 percent. Using the IRS Withholding Calculator can help employees figure their correct withholding amount.

Helping businesses be more successful.

Questions or Request? Please email us at: Info@WindhamChamber.com

Windham Region Chamber of Commerce
1010 Main St., P.O. Box 43
Willimantic CT 06226
Phone: (860) 423-6389
Fax: (860) 423-8235

Corporate Sponsors

Hit Music i98.3 Logistics Consulting
WILI 1400 AM
Eversource

A very special thank you to our Corporate Sponsors for your dedication and continued support to our region.

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