Latest IRS Updates and News Releases
IRS Webinar: Help for Charities
Thursday, Dec. 18 at 11 a.m. Pacific
- Section 501(c)(3) Exempt Purposes
- Key activities including
- Private benefit or inurement activities
- Lobbying or legislative activities
- Filing requirements
- Unrelated business income activities
- Failing to operate with an exempt purpose
SHOP Marketplace Webinar Series
The Center for Medicare and Medicaid Services, CMS, is offering a webinar series for small business employers, agents, brokers and other interested stakeholders, about important changes in the Small Business Health Options Program (SHOP). The webinar will be offered every Tuesday, 2-3 pm ET from December 2, 2014, through February 24, 2015, (except December 23 and 30).
Small Business Development Center Offers Free On-line Courses
Small businesses and entrepreneurs in Washington State now have unlimited access to more than 1,400 online courses and video tutorials, for a limited time, at no-cost for 90 days. This no-cost access is made available through a partnership between the Washington Small Business Development Center (SBDC), the Global Classroom, an online business education provider, and Microsoft Corporation.
This unique, cloud-based online course delivery and management platform allows 24/7 access to hundreds of online courses supporting business leadership, sales and marketing, information technology, human resources, communications, and business innovation, decision making strategies, problem solving, onboarding new employees, critical thinking, management essentials and much more.
Get started here: https://wasbdc.globalclassroom.us/portal/.
Be sure to check out all of the SBDC events and workshops at https://cba.wsbdc.org/events.aspx
Affordable Care Act 101 Webinars for Small Business
The SBA and Small Business Majority are holding weekly Affordable Care Act 101 webinars. During the presentation, small business owners can learn about the law and what it means for their company and employees. Visit the web page above for a complete schedule and to register. Webinars are also offered in Spanish. See the page above for dates and to register.
Small Business Workshops – Seattle SBA Education and Training Center
Small Business Taxes & Bookkeeping for the Small Business Owner - 2nd & 4th Thursday of each month - 9:00 am to 11:00 am
Learn about important information regarding your tax responsibilities as a small business owner. Topics covered:
- What taxes to pay and when they are due
- How to choose the right accountant and the right accounting software
- How to document expenses and activities
- How to take care of employee and contractor payroll taxes
- The difference between city, county, state, and federal taxation
- What the tax advantages are for the sole proprietor or for business entities in general
Workshops are held at the 4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Please pre-register by calling 206-553-2664 or e-mail firstname.lastname@example.org.
SBA and SCORE also offer a variety of other workshops for small business owners – find out more here: http://www.sba.gov/about-offices-content/2/3157
Seattle SCORE Workshops
SCORE offers workshops designed to give you the skills necessary to start your own successful business.
Jan 7, Feb 4 -- Starting a New Business
Feb 17 – Understanding Financial Statements
4th & Battery Building - 2401 Fourth Avenue, Suite 450, Seattle
Spokane SCORE Workshops
Spokane Regional Business Center (SRBC), 801 W. Riverside Avenue, Suite 444, Spokane
Jan 7, Feb 4, Mar 4 -- Starting a New Business
Check website for other workshop topics and registration information.
Employer's Introduction to L&I Workshops
This workshop is designed for new businesses or businesses that plan to hire workers for the first time. It explains an employer’s rights and responsibilities and provides an overview of the services and resources available at Labor and Industries.
Jan 27 – Vancouver -- 9 a.m. to 12 p.m.
Jan 28 – Tumwater -- 9 a.m. to 12 p.m.
Feb 4 – Tukwila -- 9 a.m. to 12 p.m.
Feb 19 – Bellingham -- 9 a.m. to 12 p.m.
Feb 24 -- Yakima -- 9 a.m. to 12 p.m.
New Business Tax Workshops – Washington State Department of Revenue
Learn the basics of Washington State taxes. This free workshop will help you understand your tax reporting responsibilities. Tax reporting classifications, deductions, sales tax collection, and recordkeeping requirements will be discussed. You'll also have the opportunity to ask questions regarding taxes that apply specifically to your business. To find out when the next workshop will be held in your area, and to register, see the link above. Can’t attend a workshop in person? Watch an online workshop or tutorial.
IRS Updates & News Releases:
Did you know? One of the best ways to get information is by visiting the IRS Small Business Tax Center where you can learn everything from how to get an Employer Identification Number (EIN) online to how to best navigate an audit.
New Standard Mileage Rates Now Available; Business Rate to Rise in 2015
The Internal Revenue Service has issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
- 57.5 cents per mile for business miles driven, up from 56 cents in 2014
- 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
- 14 cents per mile driven in service of charitable organizations
The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil. The rate for medical and moving purposes is based on the variable costs, such as gas and oil. The charitable rate is set by law. Taxpayers always have the option of claiming deductions based on the actual costs of using a vehicle rather than the standard mileage rates.
Post-Appeals Mediation for Offers in Compromise Available Nationwide
The Internal Revenue Service is releasing a revenue procedure today providing rules for the nationwide rollout of post-Appeals mediation for Offer in Compromise (OIC) and Trust Fund Recovery Penalty (TFRP) cases. Post-Appeals mediation is available to help resolve disputes after unsuccessful negotiations with the IRS Office of Appeals and is available for both factual and legal issues. Eligibility criteria and complete procedures for initiating a post-Appeals mediation request for both examination and collection issues are in Revenue Procedure 2014-63, which will be published in Internal Revenue Bulletin 2014-53 on Dec. 29, 2014.
Tips from IRS for Year-End Gifts to Charity
IRS YouTube Videos:
Year-End Tax Tips: English
Charitable Contributions: English | Spanish | ASL
Exempt Organizations Select Check: English | Spanish | ASL
The Internal Revenue Service reminds individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Some of the changes taxpayers should keep in mind include rules for charitable contributions of clothing and household items and guidelines for monetary donations. See the full article for details.
Health Care Tax Tips
Check out the tax tips for your health care questions on this page.
The Affordable Care Act and Employers
Information on Key Tax Provisions Affecting Employers
Tax Facts about the Affordable Care Act for Individuals and Families
Details on Key Provisions Affecting Individuals
IRS.gov has information about the health care law and its effect on your taxes
There is a lot of information in the news and online about the health care law and its effect on your taxes. For the most current answers to questions you may have, visit IRS.gov/aca. From the individual shared responsibility provision to the definition of minimum essential coverage, the IRS website covers a wide range of health care topics and how they relate to your taxes.