initiative
hometaxgapfaqresourcewho
faq

In this section, NSBA provides answers to the most common questions. Click on each question for a complete answer.

  1. What are the filing requirements for self-employed individuals?
  2. What is considered taxable and nontaxable income?
  3. What is the estimated tax, and does it apply to me?
  4. How do I know what business expenses I can deduct?
  5. I can't keep up with all the changes in the tax law as it affects my business. Can you help?
  6. What should I do if I am filing my taxes late and/or paying my taxes late?
  7. What should I do when I receive a notification of an audit?
  8. How can I make sure I'm getting good tax advice and not being "taken in" by an unscrupulous tax preparer?
  9. How do I recognize tax scams?
  10. I have heard that there are some practices that are seen by the IRS as "red flags" for special attention or even an audit. What are they and how should I be prepared?
  11. I don't know what records I should keep and for how long. What are some good recordkeeping tips?
  12. What are some of the most common small-business errors in preparing tax filings and how can I avoid them?