Free small business video conference set

NORWAY — “Reaching Out to Small Business Owners about Filing Requirements and Business Recordkeeping for Federal Tax Purposes” will be presented by Shawn Savage via video conference technology on Wednesday, November 14, from 5:30 to 7 p.m. at Norway Memorial Library.

Shawn Savage works for the Internal Revenue Service as Senior Stakeholder Liaison, Communications and Stakeholder Outreach Small Business/Self-Employed Division. He leads IRS’ efforts to provide tax professionals and the small business community with the latest tax information and resources the IRS has to offer.

Savage holds a Bachelor of Science degree in Business Administration with concentrations in Accounting, Finance and Marketing from the University of Maine at Orono.

One of the biggest challenges faced by people starting out or already in business is understanding and meeting their federal tax filing requirements. For some it’s a new, different and potentially overwhelming experience for them. This program will give small business owners information about IRS resources to help them learn about their federal tax responsibilities and avoid common pitfalls.

This session will discuss some basic tips for business owners to avoid potential problems such as classifying workers properly, paying estimated tax payments, protecting financial and tax records to name a few. There will also be a discussion on how easy it is to find federal tax information when you need it.

Well-organized records make it easier to prepare a tax return and help provide answers if a return is selected for examination, or to prepare a response if an IRS notice is received. Topics that will be covered include:

What kinds of records should I keep? Why should I keep good books and records? How long should I keep records? How long should I keep Employment Tax Records? How should I record my business transactions?

This program is free of charge. Pre-registration is required by 5 p.m. on November 13. To register, call 743-5309 ext. 1 or stop by the Information Desk at Norway Memorial Library.