A Helping Hand With Taxing Matters

 

www.irs.ustreas.gov/bus_info/sm_bus
What it's good for: Comprehensive tax information furnished by the IRS and tailored for small businesses, plus links to other useful tax-related sites, such as www.tax.gov (which covers the tax- and wage-reporting basics).
Don't waste your time if: You seek tax loopholes.
What our CEOs had to say: "Excellent tax information for small businesses," one panelist said. It's great for "getting a handle on tax issues relating to a start-up," said another. Still, one CEO disliked the site and said he couldn't find valuable advice there.
What you ought to know: The IRS also offers online sites not specifically devoted to small businesses, including www.irs.ustreas.gov, a guide for filing electronic tax returns.

www.smbiz.com
What it's good for: News and tax tips are updated daily. It also has a host of useful links to other sites.
Don't waste your time if: You need answers to specific tax questions.
What our CEOs had to say: They agreed that the site is valuable mostly as a "link farm," in the words of one of them. They generally faulted its design as lacking pizzazz.
What you ought to know: The genesis of the site is the Small Business Tax Review, a newsletter published since 1980 by the A/N Group, in Melville, N.Y., a provider of tax news and analyses for small businesses.

www.taxcast.com
What it's good for: Tax-law summaries and a trove of tax documents mostly suited to accountants and financial planners.
Don't waste your time if: You want a fast, easy-to-understand tour through the tax landscape. One business owner said the site, though rich in complex information, was "too sterile" and "does not keep my interest."
What our CEOs had to say: They applauded its many links and other resources, but craved a more inviting format. "It's very vanilla," said one panelist.
What you ought to know: Affiliated sites furnish many kinds of Ernst & Young tax help. One example is www.ey.com, a site well known for financial counseling for individuals and families.

www.taxmama.com
What it's good for: A joyful and occasionally informative romp through the tax world for inexperienced businesspeople. This site's "personal commentary and humor make it unintimidating," said one CEO. Another recommended it only for tax filers with rudimentary questions.
Don't waste your time if: You're looking for a highly professional format or need more than a casual presentation of everyday tax issues.
What our CEOs had to say: This is a site "more geared toward the consumer than toward businesses," said one CEO. Another echoed the assessment, saying, "It just doesn't have the kind of information I need" as a business owner. However, a third CEO said that this is a "great site with good information."
What you ought to know: The site's founder, Eva Rosenberg, holds the Enrolled Agent credential, which the U.S. Treasury Department issues to qualified accountants. Rosenberg claims to respond to every E-mail query she receives.

www.taxprophet.com
What it's good for: Basic facts. The site's a good do-it-yourself reference for those who are just starting a business and can't afford an accountant. "If you know what you're looking for," one CEO said, "you can do full-text searches of a large tax-law database," which will give you a heap of hits to sift through. You just need to have the time to do it.
Don't waste your time if: You want quick answers to your questions.
What our CEOs had to say: It's better to leave to an accountant the kind of time-consuming tax research that's available on the site. "I don't have the time to just browse," one CEO said, and "it's cheaper for me to call my accountant for a quick answer." But for those with the stomach for truly in-depth tax research or an education in tax law, the site may be useful, according to another reviewer.
What you ought to know: In the spirit of fulfilling Robert Sommers's mission of educating its users about everything to do with taxes, the site posts advisories about tax scams on an online bulletin board.

The bottom line
For overall tax advice that's accessible and relevant to small businesses, our CEOs favored the IRS site, Dtonline .com, and Bankrate.com. The reviewers singled out Bankrate.com for its supe- rior ease of navigation, and they appreciated TaxProphet.com's extensive tax- research database. They lauded Smbiz.com for links to other tax-related sites. The panelists scorned TaxMama.com in many respects yet couldn't help liking it for its sheer fun.

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