Staying Up-to-Date with Tax Laws
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How do I stay current with tax laws?
Even though you may not be a tax professional, staying current with the IRS tax laws is a good idea. This is especially true if you own and operate a business. There are a variety of ways to keep current with what is happening with the IRS and how the tax laws affect you.
- Read financial and business literature. If you are not financially inclined, there are many publications available that are written in non-technical terms. A good financial writer will present information in terms that are understandable by the general population. Examples of good reading material include: Money, local business journals, Wall Street Journal, U.S. Today, Time, and others.
- Take an income tax course. H&R Block offers the most popular one in convenient times and locations. Read professional journals. Each business discipline (accounting, construction, hospitality, etc.) publish their own newsletters, magazines, journals, and other informative literature. By reading information that is specific to your industry, you will only benefit. You need to keep current in order to succeed.
- Visit tax preparation firm websites. These websites are updated with current tax law changes and how they affect taxpayers. Plus, many offer online learning classes. H&R Block (hrblock.com) offers a very user friendly and informative site that taxpayers will enjoy visiting. Visit the IRS online. The IRS website is very informative with a multitude of beneficial features for taxpayers.
- Attend seminars and classes. Many local tax professionals hold classes throughout the year to keep taxpayers informed about current tax laws. Check with your Chamber of Commerce for more information. Sign up for the online newsletter offered by the IRS. It covers tax updates.
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