- · The IRS does have a website that may offer some assistance. There is a withholding calculator on their website that can help you define how much money should be set aside for federal tax purposes for small home based businesses.
- · Enough cannot be said about a great accountant that handles your small business tax finances. This is a wonderful source for information as well as advice on withholding amounts for federal taxes as it relates to your individual small business situation. The account will be making a best guess estimate, but has enough insight and material garnered from you that a rough estimate is thorough in addition to being more accurate. An accountant will know what questions and issues may arise for you personally as it relates to your home based business tax deductions, expenses and answer any questions you may have.
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