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    I have collected information here to assist you with the overall requirements by the IRS so that you can plan your business a little better. However, as we all know there will be ammendments to these points raised below from time to time and you would be best to confirm anything you read on this page with the relevant department. You can simply do this by the internet at http://www.irs.gov/ when you think you need to.

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    o these points raised below from time to time and you would be best to confirm anything you read on this page with the relevant department. You can simply do this by the internet at http://www.irs.gov/ when you think you need to.

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    .irs.gov/ when you think you need to.

    The first pointy I would like to raise is the type of business you are in - this will determine what taxes you must pay and how you pay them. Here are the four basic types of business taxes.

    - Income Tax

    - Self-Employment Tax

    - Employment Taxes

    - Excise Tax

    Let's run through them -

    1. Your Income Tax

    Just about all businesses apart from partnerships must file an annual income tax return. You

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